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- Gold & Silver Crash On Jan 30, 2026: MCX Gold Down 12%, Silver Plunges 26% | Latest Rates
New Delhi37 minutes ago
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A decline was seen in the gold and silver market on January 30 (Friday). By the end of trading (11:55 pm), silver on MCX fell by Rs 1,06,092 (26.53%) due to profit booking. The price of 1 kg silver came to Rs 2,93,801. In the last trading session, the price of silver had reached Rs 3,99,893.
Gold also fell by Rs 20,323 (12%) on MCX. 10 grams of gold came to Rs 1,49,080. In the last trading session, gold was at Rs 1,69,403. Apart from this, a decline of up to 23% was recorded in gold and silver ETFs on Friday.
In the bullion market on Friday, silver became cheaper by Rs 40,638 and gold by Rs 9,545. According to India Bullion and Jewelers Association (IBJA), the price of one kg silver has come down to Rs 3,39,350 per kg. At the same time, the price of 10 grams of 24 carat gold has come down to Rs 1,65,795.
Why are prices different in MCX and bullion market?
MCX : Multi Commodity Exchange is an online platform where gold and silver trading takes place. Like the stock market, bids are made every second due to which the prices continuously go up and down.
Bullion: This is where you buy physical gold and silver. There is an expense associated with bringing, transporting and storing physical gold.
Keep these 2 things in mind while buying gold
1. Buy only certified gold: Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). This number can be alphanumeric i.e. something like this – AZ4524. Hallmarking shows how many carats the gold is.
2. Price Cross Check: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
4 ways to identify real silver
- Magnet Test: Real silver does not stick to magnets. If it sticks then it is fake.
- Ice Test: Place ice on silver. Ice will melt much faster on real silver.
- Smell Test: Real silver has no smell. Fakes may smell like copper.
- Cloth Test: Rub the silver with a white cloth. If black mark appears then it is genuine.
Read this news also…
Indian households have more gold than the country’s GDP: 34,600 tonnes of gold worth ₹450 lakh crore, country’s GDP ₹370 lakh crore
The total value of gold held by Indian households has crossed $5 trillion (₹450 lakh crore). This figure is more than the country’s total GDP of 4.1 trillion dollars i.e. Rs 370 lakh crore. This has happened due to gold prices reaching record high. According to a report by Morgan Stanley, about 34,600 tonnes of gold is deposited in Indian homes.
Currently the value of gold is around Rs 1.38 lakh per 10 grams. Whereas in the international market, gold is trading beyond $ 4,500 per ounce (about 28 grams). If we convert it into rupees then its value is around Rs 1.30 lakh per 10 grams. Read the full news…
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