Panic in market as Gold prices plummet by Rs 7,700 in minutes

In an unprecedented market swing, gold prices tumbled by Rs 7,700 in just six minutes on Wednesday evening marking the steepest single-day fall of 2025. The sharp 6% decline on the Multi Commodity Exchange (MCX) sent shockwaves through investors and traders alike. Experts attribute the sudden slump to easing global tensions, low festive demand, and profit-booking by major investors.

From Record High to Sudden Low

Gold, which recently touched a lifetime high of Rs 1,32,294 per 10 grams last Friday, plunged to Rs 1,20,575 in the second half of Wednesday’s session. By market close, it settled at Rs 1,21,198, still down by over Rs 7,000. The precious metal is now nearly Rs 12,000 cheaper than its record high, signaling a dramatic reversal in momentum within a week.

Silver Follows the Same Path

Silver mirrored gold’s downward trend, sliding 4% to dip below Rs 1,44,000. It ended the session at Rs 1,43,819 per kg, a loss of Rs 6,508 from the previous close. The metal is now about 16% lower than last week’s record of Rs 1,70,415 — another major correction in the bullion market.

Experts Warn of More Pain Ahead

Market analysts expect the slide to continue. Anuj Gupta, Director of Y Wealth Management, said, “With geopolitical risks easing and trade tensions softening, gold’s ‘safe haven’ appeal is weakening.” He predicted that prices could fall further by Rs 10,000, possibly testing the Rs 1.10–1.15 lakh range soon.

A Golden Wake-Up Call

The dramatic plunge has reminded investors that even the safest assets are not immune to volatility. As the global market stabilises, gold’s glitter seems to have dimmed at least for now.

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