A huge fall was seen in the prices of gold and silver on January 31, 2028 (Saturday). This crash-like situation in gold and silver has worried investors. In fact, on Thursday, the price of silver on MCX had reached its highest level of ₹ 4,20,000 per kg, which has now fallen to ₹ 2,91,000 per kg. This means that silver prices have fallen by ₹1,29,000 in 24 hours. Similarly, the price of gold on MCX, which had reached close to ₹1,80,000 per 10 grams, has now fallen to ₹1,50,849 per 10 grams. This means that gold prices have also fallen by about ₹30,000.
gold and silver prices
Huge fluctuations were being seen in the prices of gold and silver on the Multi Commodity Exchange of India (MCX) for the last few days. A huge jump in prices was recorded on Thursday. However, this rise stopped on Friday. The reasons behind this included profit booking by investors, weak US dollar, keeping interest rates stable by the Federal Reserve and high inflation in the US.
Gold and silver prices on COMEX
This fall in the prices of gold and silver was seen not only in the domestic markets but also in the international markets. On COMEX, the silver rate had reached its highest level of $119 per ounce, which is now down to $85.250 per ounce after a huge fall. Similarly, gold rates, which had crossed $5500 an ounce, have now fallen to $4,879.60 an ounce.
what experts say
Market experts have also expressed concern over this fall in the prices of gold and silver. Brokerage firm Motilal Oswal has also said that gold prices are moving towards their monthly low. He also predicted a huge fall in silver prices tomorrow. Before the start of 2026, a huge surge in gold and silver prices was seen in 2025. Subsequently, market experts including Robert Kiyosaki, author of the “Rich Dad Poor Dad” series and a famous investor, have also predicted a significant rise in gold and silver prices in 2026.