Gold and silver prices continue to decline in the domestic market. On the Multi Commodity Exchange (MCX), gold is trading near ₹98,800, and silver near ₹1,05,800. International markets also show a softening trend in prices. Both metals are trading below their record highs.
Gold Prices Fall in Domestic Market
On Thursday, August gold futures on MCX opened at ₹98,847 per 10 grams, down ₹482. Intraday, it ranged from a low of ₹98,749 to a high of ₹98,847. At the time of writing, it was trading at ₹98,799, down ₹530. It is noteworthy that gold has reached a high of ₹1,01,078 per 10 grams so far this year.
Silver Prices Also Decline
Silver prices also remain weak. July silver futures on MCX opened at ₹1,06,501 per kg, down ₹892. At the time of writing, it was trading at ₹1,05,864, down ₹1,529. The intraday high was ₹1,06,695, and the low was ₹1,05,651. Silver reached a high of ₹1,09,748 per kg in 2024 so far.
International Market Also Sees Decline
The international market, COMEX (Commodity Exchange USA), also shows softening prices for gold and silver.
- Gold: COMEX gold opened at $3,387.10 per ounce. The previous closing was $3,408.10, while at the time of writing, it was trading at $3,341.40, down $36.70. COMEX gold has reached a high of $3,509.90 per ounce this year.
- Silver: Silver opened at $36.75 per ounce, but at the time of writing, it was trading at $35.81, down $1.10. COMEX silver has reached a high of $38.90 this year.
Current Market Prices (LTP) on MCX and COMEX:
| Metal | Exchange | Opening Price | Previous Close | Current Price |
|---|---|---|---|---|
| Gold | MCX | ₹98,847 | ₹99,329 | ₹98,799 |
| Silver | MCX | ₹1,06,501 | ₹1,07,393 | ₹1,05,864 |
| Gold | COMEX | $3,387.10 | $3,408.10 | $3,341.40 |
| Silver | COMEX | $36.75 | $36.91 | $35.81 |
(Note: MCX prices are in Indian Rupees – gold per 10 grams, silver per kg. COMEX prices are in US Dollars per ounce.)
