Gold and silver prices today witnessed extreme volatility across domestic and global markets, with silver futures on MCX plunging nearly 27% intraday, marking one of the sharpest single-session declines in recent years. Gold prices also corrected sharply after recent record-level rallies, reflecting heightened global uncertainty and aggressive profit booking.
The sell-off comes amid stronger US dollar movements, shifting Federal Reserve expectations, and geopolitical risk recalibration, which triggered rapid unwinding of leveraged positions in precious metals.
Silver Price Today: MCX Records Sharpest Intraday Fall
Silver futures bore the brunt of the sell-off, collapsing within hours of the opening.
MCX Silver (India) – 30st January 2026 Closing Bell Data
- Current Price: ₹2,91,922 per kg
- Intraday Change: −₹1,07,971 (−27%)
- Day’s High: ₹4,01,989 per kg
- Day’s Low: ₹3,12,136 per kg
- Opening Price: ₹4,00,000 per kg
- Previous Close: ₹4,10,704 per kg
The magnitude of the fall reflects forced liquidation, margin pressures, and aggressive profit-taking, particularly after silver’s steep run-up in recent sessions.
Global Silver and Gold Price Intraday Volatility – 30st January 2026
COMEX Silver (Global)
- Previous Close: $115.8080
- Open: $115.9050
- Day’s Range: $74.4065 – $118.4655 (+35.25% intraday change)
The unusually wide trading range highlights thin liquidity and rapid position unwinding by speculative traders globally.
MCX Gold (India)
- Previous Close: ₹1,49,653
- Opening Price: ₹1,67,899
- Day’s Range: ₹1,49,075 – ₹1,68,000 (+12.7% intraday change)
Global Gold Price (COMEX / TradingView)
- Previous Close: $5,379.35
- Open: $5,384.71
- Day’s Range: $4,682.91 – $5,451.01 (+16.4% intraday change)
Gold prices, while relatively more resilient than silver, also declined sharply as investors booked profits and repositioned portfolios, reflecting heightened global volatility and monetary policy uncertainty.
Gold’s sharp intraday range reflects uncertainty over monetary policy and recalibrated safe-haven demand amid global economic concerns.
What Triggered the Sharp Fall in Gold and Silver?
- Stronger US Dollar – A firm dollar reduced the appeal of dollar-denominated commodities, putting downward pressure on gold and silver prices.
- Federal Reserve Expectations – Markets reassessed interest-rate expectations, reducing demand for non-yielding assets like precious metals.
- Profit Booking at Elevated Levels – Both metals recently traded near lifetime or multi-year highs, prompting institutional investors to lock in gains.
- High Leverage in Silver – Silver’s sharper fall reflects higher exposure to leveraged and speculative positions compared to gold.
Silver’s dual role as an industrial and precious metal makes it more vulnerable during sudden macro shifts.
Market Outlook
Analysts expect continued volatility, especially in silver, as markets digest global macro cues. Gold may find support from safe-haven demand, but prices remain highly sensitive to US dollar movements, central bank signals, and global geopolitical developments.
Investors should monitor:
- US Federal Reserve commentary
- Dollar index trends
- Margin requirement changes on MCX
- Global geopolitical developments
The gold and silver price today, 31st January 2026, highlights a sharp shift in market sentiment. Silver’s 27% intraday crash on MCX stands out as a rare and significant event, while gold’s correction signals caution after a strong rally. This episode underscores the risks of volatility and leverage in commodity markets amid evolving global conditions.
Global Perspective: Markets from London to New York echoed similar trends, with COMEX silver recording unprecedented swings and gold reacting to shifting safe-haven flows. The global context amplifies domestic impacts, reinforcing the importance of a cross-market view for investors.
