The effect of weak signals in the global market and the strength of the dollar was visible on the prices of gold and silver on Monday (September 7). The prices of both the precious metals fell by about 0.3 percent in the Indian market. The price of gold was around Rs 1.52 lakh per 10 grams, while the price of silver fell from Rs 2.37 lakh to around Rs 2.36 lakh per kg.
On the Multi Commodity Exchange (MCX), the gold contract expiring on October 5, 2026, opened at Rs 1,52,279 per 10 grams, compared to Rs 1,52,767 earlier. At 10 am, gold was trading at Rs 1,52,358 per 10 grams, down by Rs 409 or 0.27 percent. In the current trading session, gold touched a low of Rs 1,52,225 and a high of Rs 1,52,483.
Silver prices also fell. The silver contract expiring on December 4, 2026, opened at Rs 2,37,176 per kg, while the previous closing was Rs 2,37,658. At 10 am, silver was trading at Rs 2,36,985 per kg, down Rs 673 or 0.28 per cent. During the session, silver touched a low of Rs 2,36,423 and a high of Rs 2,37,658. Precious metals remained under pressure in the international market. Gold prices fell 0.62 per cent to $4,450 an ounce, while silver fell 0.56 per cent to $66 an ounce.
According to experts, strong employment data from the US has been important for the market. With this data, the possibility of increasing interest rates in the upcoming meeting of the US Central Bank has increased. This has increased pressure on precious metals like gold and silver. Apart from this, the rise in dollar index is also negative for gold and silver. The dollar index is currently trading around 99, and the strengthening of the dollar has put further pressure on precious metal prices.
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