Gold, Silver Prices Fall Up To 4.5%, ETFs Slip Too - Here's Why

Gold and silver prices declined on February 17, pressured by thin trading volumes and a stronger US dollar, which weighed on the investor sentiment in the bullion market.

In the domestic physical market, 24-carat gold fell 1.88 per cent from the previous close to Rs 1,52,200 per 10 grams, according to data from the India Bullion and Jewellers Association (IBJA). Fine silver prices tumbled 2.73 per cent to Rs 2,34,380 per kilogram as against its previous close.

In the domestic derivatives market, the April gold futures contract on the Multi Commodity Exchange (MCX) fell up to 2.27 per cent to an intraday low of Rs 1,51,244 per 10 grams. The March silver futures slipped as much as 4.40 per cent to the day’s low at Rs 2,29,352 per kilogram.

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