MCX shares crack 4%, down 20% in 3 days as gold, silver rout deepens for third consecutive day
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Shares of Multi Commodity Exchange (MCX) slipped as much as 4% to their day's low of Rs 2,145 on the BSE on Monday, after gold and silver prices extended decline for a third day in a row. With today's fall, the stock is down 20% in just three trading sessions. On February 2, MCX Silver futures due March 5, 2026 were down Rs 10,000 or 3.7% Rs 2,55,652 per 10 grams. Meanwhile, Gold futures for April 2, 2026 delivery edged lower by Rs 4,252 or 3 to Rs 1,43,501 per kg. Any sharp correction in gold and silver directly weighs on volume visibility and near-term earnings expectations, prompting selling pressure in the stock. Market volatility has been fuelled by speculation over US monetary policy following the nomination of Kevin Warsh as the next Federal Reserve chair by US President Donald Trump, a development that has strengthened the dollar and weighed on precious metals. While Warsh, a former Fed governor, is seen as an advocate of ...