Chandigarh:- Gold prices have witnessed a huge fall in the Indian market today. The price of gold has fallen by more than 5% on the Multi Commodity Exchange. Today, gold opened at Rs 1,40,158 but soon it came down to Rs 1,36,403 per 10 grams. Gold has recorded a decline of more than Rs 8,000 compared to the previous close.
Along with gold, silver prices have also fallen sharply. Silver was sold so fast that it had to put a lower circuit of 6% (the price fell so much that trading had to be stopped). The price of silver has fallen by Rs 13,606 per kg to Rs 2,13,166. This is a big shock for investors as prices have come down much faster than expected.
According to market experts, the growing war between the US and Iran has raised fears of rising inflation across the world. Due to this, it is expected that central banks may increase interest rates. When there is a possibility of increasing interest rates, investors start withdrawing money from gold and silver, due to which such a sharp decline in prices is being seen.