Silver crashes Rs.56000/kg from August peak; gold slides 23000/10 grams. What's driving the selloff in precious metals
New Delhi, Oct. 23 -- Silver prices showed no signs of recovery as the white metal extended its losing streak in Friday's trade, falling another Rs.6,800 per kg to Rs.1,92,800, its lowest level since December 2025.
MCX gold prices were also down marginally, declining 0.29%, while hovering around a nearly three-month low of Rs.1.40 lakh per 10 grams. Precious metals have faced heavy selling pressure in October as the Middle East conflict showed no signs of easing, keeping the possibility of further US Federal Reserve rate hikes in focus.
The weakness has deepened October losses, putting both metals on track for a second consecutive monthly decline. Rising bond yields, driven by elevated crude oil prices, have emerged as a key challenge f...
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