Gold Silver Price: The bullion market witnessed a sharp correction on Friday after a continuous upward trend in recent days. Prices of both gold and silver fell significantly on the Multi Commodity Exchange (MCX), bringing relief to investors as well as families planning purchases for weddings and other occasions.

Silver Falls by Around 30,000 Rupees Per Kg

Silver recorded the steepest decline in recent sessions. On May 13, silver was priced at around 3,04,000 Rupees per kilogram, but it has now dropped to nearly 2,74,000 Rupees per kilogram.

This means silver has become cheaper by nearly 30,000 Rupees per kg in just two days, creating volatility in the market.

Market experts say the fall is mainly due to profit booking after a strong rally, along with pressure from global market conditions.

Gold Prices Also Decline

Gold prices also witnessed a noticeable correction. On May 13, 24-karat gold was priced at around 1,64,000 Rupees per 10 grams, which has now fallen to approximately 1,59,000 Rupees per 10 grams. This marks a decline of nearly 5,000 Rupees per 10 grams.