Gold and silver prices declined in early trading on the Multi Commodity Exchange (MCX) on Thursday, April 23, with silver dropped a sharp fall of over Rs 6,000 per kilogram and gold dropping by around Rs 1,000. Silver, which had closed at Rs 2,48,364 per kg in the previous session, opened at Rs 2,42,501 and fell further by Rs 6,144 to Rs 2,42,220 in early trade.
Gold delivery had settled at Rs 1,52,657 per 10 grams in the previous session. It opened lower at Rs 1,52,051 and declined by Rs 938 to Rs 1,51,719 in early trading.
The domestic bullion market also saw a decline in prices. According to GoodReturns data, 24-carat gold fell by Rs 1,200 to Rs 1,53,550 per 10 grams. Similarly, 22-carat gold dropped by Rs 1,100 to Rs ds1,40,750, while 18-carat gold declined by Rs 900 to Rs 1,15,160. Silver prices in the retail market also slipped by Rs 5,000 per kg to Rs 2,60,000.
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Previous Session Overview
In the previous session, gold showed some volatility. It opened at Rs 1,53,335 per 10 grams, rose to Rs 1,53,699 during the day, and was trading at around Rs 1,52,545 by late evening, up by Rs 874. Silver for June delivery was trading at around Rs 2,60,000 per kg during the previous session.