Gold and silver prices declined in the domestic futures market on Thursday, with gold falling by around 2% and silver dropping by nearly 5% on the Multi Commodity Exchange (MCX) before the close of trading. The decline extended to international commodity markets, where both precious metals also recorded losses.
Gold and silver futures fell on the Commodity Exchange (COMEX) on the morning of October 23. According to the available preliminary data, gold prices declined by approximately 0.78% to $4,000.80 per troy ounce. Silver prices fell by around 1.84% to trade at approximately $53.995 per ounce. Both metals had faced selling pressure in previous trading sessions as well.
Gold and silver futures contracts recorded declines on the domestic Multi Commodity Exchange (MCX). According to the available data, gold futures for December delivery fell by approximately ₹900 to trade at ₹1,42,400 per 10 grams.
Silver prices declined by around ₹3,500 to approximately ₹1,96,141 per kilogram, taking silver futures below the ₹2 lakh-per-kilogram mark.
MCX futures prices may differ from prices quoted in local bullion markets. Futures prices should not be treated as the final purchase prices of gold or silver available at retail jewellery stores.
According to the available market details, the price of 24-carat gold was reported at approximately ₹1,42,750 per 10 grams, while 18-carat gold was quoted at around ₹1,07,063 per 10 grams.
The available data for 22-carat gold may contain a typing error. Its exact price requires confirmation from the relevant jewellers or a reliable market source before publication.
Prices of 24-carat, 22-carat and 18-carat gold vary according to purity.
