After rising consistently during the first three trading sessions of the week, gold and silver prices eased on Thursday, July 23, across both domestic and international bullion markets. The decline in global precious metal prices was reflected in the Indian market as well. In early trade, gold prices weakened by around 0.5 percent, while silver also remained under pressure.
Market participants are closely tracking global economic conditions, geopolitical developments, and the monetary policy stance of major central banks. These factors continue to influence demand and pricing for gold, which is widely regarded as a safe-haven asset. Following the gains recorded over the past few sessions, profit booking was also visible in the market on Thursday.
In the international market, gold and silver prices declined on COMEX on Thursday. According to data available at around 9:00 a.m., gold was trading at approximately $4,131.40 per ounce, down about 0.49 percent. Silver also weakened, falling around 0.24 percent to $60.10 per ounce in early trade. The decline followed several consecutive sessions of gains in both precious metals.
According to market experts, movements in the US dollar, bond yields, global economic uncertainties, and geopolitical developments may continue to influence gold and silver prices in the international market.
On India's Multi Commodity Exchange (MCX), gold futures also traded lower on Thursday. At around 9:00 a.m., gold was trading at approximately ₹1,45,230 per 10 grams, down about 0.31 percent. In contrast, silver futures posted a marginal gain, rising around 0.21 percent to approximately ₹2,26,453 per kilogram in early trade, indicating divergent trends in the domestic futures market.
In the domestic retail market on July 23, the price of 24-carat gold was quoted at approximately ₹1,45,880 per 10 grams. The price of 22-carat gold stood at around ₹1,33,173 per 10 grams, while 18-carat gold was quoted at approximately ₹1,09,210 per 10 grams. Actual purchase prices may vary across cities due to local taxes, making charges, and jewellers' margins.
Silver was quoted at approximately ₹2,26,690 per kilogram in the domestic market. Retail silver prices may also vary across cities depending on local market conditions.
