Gold Silver Price: Today, the August gold contract on the Multi Commodity Exchange opened at ₹96,193, down ₹279.
Today, Wednesday, July 9, 2025, there was a decline in gold prices in the domestic futures market, the Multi Commodity Exchange (MCX). The gold contract for August delivery opened at ₹96,193 per 10 grams, down ₹279. The price of gold was ₹96,472 on Tuesday.
At the time of writing, this contract was trading at ₹96,178, down ₹294. During this period, it touched a high of ₹96,257 and a low of ₹96,157. Gold has recorded an all-time high of ₹1,01,078 per 10 grams so far this year.
Silver's Shine Also Faded
Like gold, the price of silver also saw a sluggishness. The September contract for silver opened at ₹1,07,889 per kilogram, down ₹96. Its closing price was ₹1,07,985 on Tuesday.
At the time of writing, this contract was trading at ₹1,07,820, down ₹165. During trading, it made a high of ₹1,07,938 and a low of ₹1,07,800. Silver has touched an all-time high of ₹1,09,748 per kilogram so far in 2025.
Decline in the International Market as Well
Not only the domestic market, but also gold and silver prices declined today on the international commodity exchange, Comex.
Gold opened on Comex at $3,310.60 per ounce, while the previous close was $3,316.90. Currently, it is trading at $3,300.10 per ounce, down $16.80. Gold has recorded an all-time high of $3,509.90 per ounce this year.
Similarly, silver opened at $36.93 per ounce. The previous closing was $36.74. Currently, it is trading at $36.72 per ounce with a slight decline.
Why Gold and Silver Prices are Falling
According to experts, the strengthening of the dollar in recent days and uncertainty about global signals regarding interest rates are putting pressure on precious metals. There is no clarity from the US Federal Reserve regarding interest rate cuts, which has increased investor caution.
In addition, the monsoon situation in India and the distance from the festive season are also affecting domestic demand. In such a situation, the enthusiasm for buying is currently weak and its effect is visible on the prices in the futures market.
Silver's Fluctuations
Silver prices have also made a spectacular jump this year. Between February and March, there was a tremendous rise in silver prices, and it reached ₹1.09 lakh per kilogram. But it has been continuously softening in the last few weeks.
One reason for this is that silver is used more in industrial works, and currently, a decline in industrial demand is being seen due to global economic uncertainties.
What Market Experts Say
In the eyes of market experts, this decline is currently a natural correction. After the rise in prices in the last few months, the possibility of profit booking remains in the market.
In addition, the outflow of capital from foreign investors and the ongoing volatility in global markets have a direct impact on the rates of precious metals. Also, when the dollar index rises, gold and silver prices come under pressure.
