Gold prices in India are down by ₹5000, fourth fall in five days

Mumbai: Gold and silver prices dipped lower in Indian markets today. On MCX, gold futures slipped by 0.4% i.e. ₹51,140 comparing to last month high of ₹56,200 for per 10 gram. This is fourth fall in five days.

Silver futures on MCX declined 0.75% to ₹67,982 per kg whereas it came close to ₹80,000 per kg level last month.

In the previous session, gold futures had risen 0.6% while silver had gained 0.55%.
From that levels, gold is now down about ₹5,000. Silver took sharp steep of about ₹13000.

MCX, India’s largest commodity derivatives exchange, has witnessed an all-time record delivery in silver contracts via the exchange platform. A total of 139.965 tons of silver, valued at ₹937 crore, has been delivered in MCX silver contracts expiring in August/September.

In global markets, gold rates were flat today as a stronger US dollar offset the boost in safe-haven appeal from weak global equities. Spot gold was little changed at $1,929.30 per ounce, after it fell to near a two-week low of $1,906.24 in the previous session.

Among other precious metals, silver fell 0.2% to $26.66 per ounce while platinum was steady at $901.29.