₹1,000 to ₹45,732 per gram. Silver futures on MCX crashed 3% or about ₹1,500 to about ₹47,337 per kg. The tumble in gold and silver prices came as risk sentiment improved after surprisingly better U.S.
job numbers provided further signs that the global economy is picking up faster than anticipated.This put pressure on perceived safe-haven assets like gold and bonds.
US data released on Friday showed that 2.5 million people were newly employed last month, following a record drop of more than 20 million in April.
The jobless rate fell to 13.3% last month from 14.7% in April."Global risk appetite also seems to be supported by growing optimism over global economic recovery as many nation lift lockdown restrictions.