Silver Prices

US Federal Reserve Chairman Kevin Warsh's speech at Jackson Hole led to a sharp drop in gold and silver prices, influenced by market sentiment on inflation and interest rate hikes. Gold traded at $4,428.54 and silver at $66.42 amid geopolitical tensions and changing investor interest.

The domestic MCX gold price recovered its previous losses, jumping over 1% to cross the ₹1.55 lakh mark per 10 grams

Hindustan Zinc fell as much as 4.7% to its day's low of ₹592.05. NALCO declined 3.8% to ₹369, while Vedanta dropped 3.7% to ₹276.50. Hindalco shed 3% to ₹1,005.30. Hind Copper also declined 2.5% to ₹520.20 during the session.

Gold and silver ETFs experienced significant declines on August 31, driven by hawkish Federal Reserve comments and rising bond yields, increasing inflation concerns amid geopolitical tensions.

MCX gold October futures crashed by more than ₹2,600, or almost 2%, to drop to ₹1,53,640 per 10 grams, while MCX silver September contracts plunged by over ₹4,200, or nearly 2%, to ₹2,32,501 per kg in early deals.

Gold and silver prices today, 28 August: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.

MCX gold October contracts were down 0.57% at ₹1,58,085, while MCX silver September futures were 0.55% down at ₹2,39,320 per kg around 9:15 AM.

MCX gold October futures rose by 0.53% up to ₹1,60,509 per 10 grams, while MCX silver September contracts climbed 0.71% to ₹2,41,341 per kg in early deals on Thursday.

On August 27, MCX gold prices rose in India as uncertainty in Middle East continued to support safe-haven demand. Check retail rates of both gold and silver in your city here.