Gold-Silver Rates: Fall in gold and silver continues, prices decreased by more than 2 percent

Mumbai, 23 June. There was a decline in the prices of gold and silver on Tuesday. The reason for this is believed to be the dollar index continuously remaining above 100 and the fear of increase in interest rates at the global level. On Multi Commodity Exchange (MCX), the gold contract for August 5, 2026 opened at Rs 1,46,776 with a weakness of Rs 1,412 or 0.95 percent as against the previous closing of Rs 1,48,188. At 9:43 am it was at Rs 1,46,927, a weakness of Rs 1,191 or 0.80 per cent.

In the trading so far, gold has touched a high of Rs 1,46,528 and a low of Rs 1,47,090. More weakness was seen in silver along with gold. The silver contract for July 03, 2026 opened at Rs 2,27,676 with a decline of Rs 6,634 or 2.83 percent compared to the previous closing of Rs 2,34,310. Currently it opened at Rs 2,28,283 with a decline of Rs 6,027 or 2.57 percent. In the trading so far, silver has touched a low of Rs 2,27,125 and a high of Rs 2,28,800.

According to experts, the reason for weakness in gold is the dollar index remaining above 100, which was at 100.795 today. This is the highest level of the dollar index in the last one year. The dollar index measures the US dollar’s position against six major world currencies – the euro, the Japanese yen, the pound sterling, the Canadian dollar, the Swedish krona and the Swiss franc.

The reason for this increase is the possibility of the US Fed increasing interest rates this year to control inflation. Apart from this, experts further said that now investors are keeping an eye on the US employment and unemployment data coming this week, as these can prove to be the next big factor affecting gold prices.