New Delhi, Dec. 31 -- Gold prices dropped by almost 1% while silver rates crashed 6% in morning trade on the MCX on Wednesday, December 31, due to profit booking at record high levels. MCX gold February futures dropped 0.75% to Rs.1,35,644 per 10 grams, while MCX silver March futures crashed over 6% to Rs.2,35,373 per kg. Around 9:15 am, MCX gold was 0.63% down at Rs.1,35,800 per 10 grams, while MCX silver was down 6.23% at Rs.2,35,373 per kg.

Traders booked profits in precious metals as they are at unprecedented highs, clocking strong gains this year. Domestic spot gold prices have jumped 76% this year, while silver prices have soared almost 170%.(This is a developing story. Please check back for fresh updates.)

Published by HT Digital...