On Tuesday night, a notable decline in gold and silver prices was recorded on the Multi Commodity Exchange (MCX), with silver prices dropping by 5.58% to approximately ₹2,26,513 per kilogram. Similarly, gold prices fell by ₹3,796 or 2.45%, settling at ₹1,50,964 per 10 grams. This decline represents the most substantial drop for gold and silver seen on that day.

Historically, these current prices are significantly lower compared to the all-time highs reached on January 29, when silver peaked at ₹4.20 lakhs and gold hit ₹1.93 lakhs per 10 grams. Since those record highs, silver has become over ₹1.93 lakhs cheaper, while gold has decreased by more than ₹43,000, highlighting a major shift in market dynamics.

This recent decline may be correlated with international trends affecting commodity prices, as indicated by gold's international spot price reported at $4,920 on February 17. Investors are likely to be analyzing these price movements closely, as they reflect broader economic conditions and potential shifts in precious metals market stability.