Silver slides to ₹2.11 lakh per kg as gold prices dip

Silver prices on the Multi Commodity Exchange plunged to around ₹2.11 lakh per kilogram on Wednesday, marking the sharpest drop since the metal’s January high of ₹4.20 lakh. The December‑4 futures closed at ₹2,11,485 per kg on Tuesday and slipped to ₹2,08,601 within two hours of Wednesday’s trade, a fall of ₹2,884. ABP News also reported the MCX spot price fell to ₹2,09,935 per kg, down 0.26%. In the domestic market the Indian Bullion and Jewellers Association showed the price fell from ₹2,08,750 on 19 Oct to ₹2,05,850 on Wednesday, a drop of ₹2,900, and was ₹5,068 lower than the 16 Oct close of ₹2,10,918. Gold futures moved in the same direction. MCX 10‑gram 24‑carat gold closed at ₹1,46,519 on Tuesday and opened at ₹1,45,689 on Wednesday, a decline of ₹830. ABP News noted a 0.31% fall to ₹1,46,179. Domestic 24‑carat gold fell from ₹1,45,944 on Monday to ₹1,44,060 on Wednesday, a drop of ₹1,884. Prices of lower‑karat gold also slipped: 22‑carat at ₹1,43,483, 20‑carat at ₹1,31,959, 18‑carat at ₹1,08,045 and 14‑carat at ₹84,275 per 10 g. Investors are advised to seek market expert advice before trading gold‑silver ETFs.## Context The MCX is India’s primary platform for trading metal futures, so price swings quickly affect jewellery retailers and buyers, especially ahead of Diwali when demand usually rises.