Precious metal investors witnessed a downward trend as both gold and silver prices opened with notable losses across domestic and international trading platforms. Market fluctuations have kept investors on edge, especially with crucial economic cues, including the release of the US Federal Reserve’s July policy meeting minutes, taking center stage.
International Comex Market Trends
In the international bullion market, selling pressure dragged both key precious metals lower. On the Comex, gold witnessed a downward correction, trading lower by approximately 0.31%, while silver prices experienced a sharper drop, declining around 1.53% per ounce as global investors adjusted their positions ahead of key macroeconomic data releases.
Domestic Slump on the Multi Commodity Exchange (MCX)
Mirroring global sentiments, domestic futures trading on the Multi Commodity Exchange (MCX) also reflected weak momentum.
Gold Prices: Gold futures slipped on the exchange, trading near the ₹1.54 lakh per 10 grams mark, reflecting an immediate dip as morning trade progressed.
Silver Prices: Silver faced steeper correction in the futures market, tumbling sharply to hover around the ₹2.30 lakh per kilogram threshold.
Current Retail Bullion Rates in India
For retail buyers and investors tracking physical bullion, rates varied across purities. Standard 24-karat gold traded near ₹1,54,410 per 10 grams, while 22-karat gold—frequently preferred for jewelry purchases—stood around ₹1,41,543 per 10 grams. Meanwhile, 18-karat gold trended near ₹1,15,808 per 10 grams, and retail silver prices across major Indian bullion markets were observed near ₹2,31,160 per kilogram. Market experts advise tracking global currency movements and upcoming inflation data before making fresh investment moves.