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Gold and Silver Extend Losses in Friday Trading Session
Gold and silver prices witnessed a sharp decline in domestic markets on Friday. Both precious metals also traded lower on the Multi Commodity Exchange (MCX), reflecting profit-booking and softer global trends.
Precious metal prices traded lower in the Indian bullion market on Friday, with both gold and silver witnessing notable declines.
According to market data, 24-carat gold was trading 0.9 per cent lower at ₹1,58,190 per 10 grams, while silver fell 1.8 per cent to ₹2,60,890 per kilogram.
The weakness was also reflected in futures trading on the Multi Commodity Exchange of India (MCX).
MCX Prices
- Gold for the June contract was trading nearly 1 per cent lower at ₹1,54,263 per 10 grams.
- Silver for the July contract declined 0.8 per cent to ₹2,59,999 per kilogram.
Precious Metals Market Snapshot
| Commodity | Market | Price | Change |
|---|---|---|---|
| Gold (24 Carat) | Bullion Market | ₹1,58,190 / 10 gm | -0.9% |
| Silver | Bullion Market | ₹2,60,890 / kg | -1.8% |
| Gold (June Contract) | MCX | ₹1,54,263 / 10 gm | Nearly -1.0% |
| Silver (July Contract) | MCX | ₹2,59,999 / kg | -0.8% |
Market Outlook
Analysts attribute the decline to:
- Profit-booking after recent gains
- Fluctuations in global precious metal prices
- Movements in the US dollar
- Changes in investor sentiment toward safe-haven assets
Gold and silver prices often react to developments in global financial markets, inflation expectations, central bank policies, and geopolitical events.
Despite today’s decline, precious metals continue to attract investor interest as a hedge against economic uncertainty and inflation.
Market participants will closely monitor international economic indicators, currency movements, and global risk sentiment for further direction in bullion prices.
