The decline in gold and silver prices shows no signs of stopping, even as the festive season arrives. Notably, gold has now fallen by approximately 25% from its all-time high. Tensions in the Middle East, rising inflation in the United States, and surging crude oil prices are directly impacting gold. Consequently, global markets witnessed another drop in prices today, Friday.

**Prices Plunge in the International Market**
Gold and silver prices have fallen once again in the international market—specifically on the COMEX exchange. Today, October 30, gold on the COMEX dropped by 0.68%, trading at $4,004.00 per ounce. Meanwhile, the price of silver fell by 2.07%, trading at $51.295 per ounce.

**Prices Decline in the Domestic Market**
A decline in gold and silver prices has also been recorded in the domestic market. Today, gold was seen trading at approximately ₹1.41 lakh per 10 grams. Silver also saw a decline, trading at around ₹1.87 lakh per kilogram.

**Where is Gold Trading on the MCX?**
On the Multi Commodity Exchange (MCX), gold for December delivery fell by ₹800, trading at ₹1,41,852 per 10 grams. Silver, meanwhile, saw a drop of ₹2,500, reaching a price of ₹1,87,029 per kilogram.

**How ​​Much Have These Metals Fallen?**
As soon as the markets opened, both gold and silver experienced another decline. The downward trend in these metals has persisted since the beginning of the festive season. Currently, 24-carat gold is trading at approximately ₹142,210 per 10 grams, while 22-carat gold is hovering around ₹130,359 per 10 grams. Meanwhile, 18-carat gold is trading at about ₹106,508 per 10 grams. In the bullion market, silver is trading at approximately ₹187,530 per kilogram.

How far have prices fallen from their record highs?
On January 29 of this year, gold reached an all-time high in the Indian futures market (MCX), hitting a historic peak of ₹193,000 per 10 grams. Currently, however, gold is trading significantly below this peak. On the MCX, gold is trading at ₹142,000 per 10 grams—a level approximately ₹50,000, or 25%, lower than its all-time high. For gold to return to its previous record level of ₹193,000, it would need to see a substantial surge of about 25% from its current price.

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