Silver Price Crash: Gold and silver prices have fallen sharply. In a single day, the price of silver has fallen by more than Rs. 1 lakh, while gold has become cheaper by more than Rs. 33,000 per 10 grams. Experts had already predicted a major decline in the prices of precious metals, which had reached historical levels. The wedding season is about to begin, and gold and silver are the most popular items purchased for weddings. On Thursday, the price of silver on the MCX (Multi Commodity Exchange) touched its highest level of Rs. 4,20,000 per kg, which has now fallen to Rs. 2,91,000 per kg. In 24 hours, the price of silver has dropped by Rs. 1,29,000.

Massive Drop in Silver Price
The price of 1 kg of silver has fallen by more than one lakh rupees in a single day. On the Multi Commodity Exchange, silver closed at Rs. 3,99,893 per kg last Thursday. However, when futures trading closed on Friday, the price of silver with a March 5th expiry crashed, falling rapidly to Rs. 2,91,922. This means silver became cheaper by Rs. 1,07,971 per kilogram.

Silver rate today city – wise

The price of one kilogram of silver in Delhi is Rs. 3,50,000.
The price of one kilogram of silver in Mumbai is Rs. 3,50,000.
The price of one kilogram of silver in Ahmedabad is Rs. 3,50,000.
The price of one kilogram of silver in Chennai is Rs. 3,50,000.
The price of one kilogram of silver in Kolkata is Rs. 3,50,000.
The price of one kilogram of silver in Hyderabad is Rs. 3,50,000.
The price of one kilogram of silver in Jaipur is Rs. 3,50,000.
The price of one kilogram of silver in Bhopal is Rs. 3,50,000.
The price of one kilogram of silver in Lucknow is Rs. 3,50,000.

In Chandigarh, the price of one kilogram of silver is ₹3,50,000.

US Dollar

The dollar is showing strength again. The US dollar index has risen back above 97. A strong US dollar is negative for both gold and silver. The prices of these metals are determined globally in US dollars. A stronger dollar makes them more expensive for foreign buyers, leading to decreased demand.