Gold prices crashed in India, reflecting a similar trend in global markets. On MCX, April gold futures tanked 4.25% or ₹1,800 per 10 gram to ₹40,416 as of Friday’s close. Silver saw a much bigger fall with futures on MCX stumbling 8% or ₹3,679 per kg to ₹40,460. This is quite a reversal in price movement for the precious metals. In India, gold had surged closer to a new high of about ₹45,000 per 10 gram earlier this week. In global markets too prices briefly flirted with $1,700 an ounce on Monday.