On Wednesday, gold prices in the Indian market experienced a slight decline, while silver prices saw an increase. Domestic futures markets showed a modest decrease in gold trading, while silver prices continued to rise.
Gold Prices Decline on MCX
On Wednesday morning, the Multi Commodity Exchange (MCX) saw a slight decrease in gold prices. April 4th, 2025 delivery gold futures fell by 0.04%, or ₹37, trading at ₹85,989 per 10 grams. Similarly, June 5th, 2025 delivery gold futures decreased by 0.03%, or ₹28, settling at ₹86,765 per 10 grams.
Delhi's gold market had seen a ₹1,100 increase on Tuesday, pushing the price of 99.9% pure gold to ₹89,000 per 10 grams and 99.5% pure gold to ₹88,600 per 10 grams. However, on Wednesday, the market showed price instability and a slight decrease.
Silver Prices Continue to Rise
Silver prices are on the rise. On the MCX, May 5th, 2025 delivery silver futures increased by 0.42%, or ₹408, trading at ₹96,664 per kilogram. In Delhi's gold market, silver prices rose by ₹1,500 on Tuesday, reaching ₹98,000 per kilogram.
International Gold and Silver Market Conditions
International gold and silver markets experienced price fluctuations. On COMEX, gold futures rose 0.07%, or $1.90, to $2,922.50 per ounce. However, the spot gold price fell 0.19%, or $5.57, to $2,912.32 per ounce.
Silver prices increased in the global market on Wednesday. COMEX silver futures rose 0.68%, or $0.22, reaching $32.60 per ounce, while the spot silver price increased by 0.12%, or $0.04, trading at $32.02 per ounce.
Market Impact
Experts attribute the volatility in gold prices to the rising value of the US dollar in the global market and the potential for interest rate hikes. Conversely, the increased demand for silver in industrial applications is driving up its price. Considering the current market conditions, investors are advised to consider investments in gold and silver.
