Gold and silver prices faced selling pressure on Monday, July 13, opening the week on a sluggish note. The downward trend is being driven by an appreciating US dollar and surging crude oil prices, triggered by escalating US-Iran tensions and a hawkish stance from the US Federal Reserve, which have collectively pushed investors toward the greenback.
On the Multi Commodity Exchange (MCX), gold futures for the benchmark August contract opened lower at ₹1,42,633, down ₹845 against the previous close of ₹1,43,478 per 10 grams. At the time of reporting, the contract plummeted further by ₹1,658 to trade near ₹1,41,820. During the session, it touched an intraday high of ₹1,43,633 and a low of ₹1,41,557. Gold futures had previously hit a record high of ₹1,80,779 earlier this year.
Silver futures witnessed a similar downtrend. The benchmark September contract on the MCX opened at ₹2,18,648 per kilogram, registering a drop of ₹4,016 from the previous close of ₹2,22,664. At the time of reporting, the metal was trading at ₹2,17,775, down ₹4,889. It recorded an intraday high of ₹2,18,667 and a low of ₹2,17,277 during the day. Earlier this year, silver prices had peaked at an all-time high of ₹4,20,048.
In the international market, precious metals remained weak on Comex. Gold futures opened at $4,106.60 per ounce, down from the previous close of $4,113.70, and were trading around $4,075.60 at the time of writing, marking a decline of $38.10. Gold had touched a peak of $5,586.20 per ounce this year.
Meanwhile, Comex silver futures opened at $59.71 per ounce against the previous close of $60.16. At the time of reporting, it was down $1.40, trading near $58.76 per ounce. The metal had reached its highest level of $121.79 earlier this year.
MCX, Comex पर भाव
MCX | Open | Last Close | LTP |
Gold | 1,42,633 | 1,43,478 | 1,41,820 |
Silver | 2,18,668 | 2,22,664 | 2,17,775 |
Comex | Open | Last Close | LTP |
Gold | 4,106.60 | 4,113.70 | 4,075.60 |
Silver | 59.71 | 60.16 | 58.76 |
(Note: On MCX, gold futures prices are quoted in rupees per 10 grams and silver in rupees per kilogram. On COMEX, futures prices for both are quoted in dollars per ounce. The Last Traded Prices (LTP) reflect rates at the time of writing.)
