Gold and silver futures continued to trade lower in the domestic market on Wednesday, with both metals opening weak. At the time of writing, gold futures in the domestic market were trading near ₹1,44,700 per 10 grams, while silver futures were around ₹2,24,200 per kg.
In the international market, too, gold and silver futures were trading with losses.
Gold futures decline
Gold futures opened lower on the Multi Commodity Exchange (MCX). The benchmark August gold contract opened at ₹1,45,000 per 10 grams, down ₹1,529 from its previous close of ₹1,46,529.
At the time of writing, the contract was trading at Rs 1,44,705, down ₹1,824. During the session, it touched a high of ₹1,45,000 and a low of ₹1,44,370. Gold futures had touched their highest level of the year at ₹1,80,779.
Silver loses sheen
Silver futures also opened on a weak note. The benchmark July silver contract on MCX opened at ₹2,22,579 per kg, down ₹3,255 from its previous close of ₹2,25,834.
At the time of writing, the contract was trading at ₹2,24,227, down ₹1,607. During the session, silver touched a high of ₹2,24,227 and a low of ₹2,22,578. Silver futures had touched their highest level of the year at ₹4,20,048 per kg.
Gold, silver weak in global market
In the international market, gold and silver futures were trading lower. On Comex, gold opened at $4,130 per ounce, compared with the previous close of $4,149.40 per ounce. At the time of writing, it was trading at $4,084.40 per ounce, down $65.20. Gold prices had touched their highest level of the year at $5,586.20 per ounce.
Note: MCX gold futures prices are in rupees per 10 grams, while MCX silver futures prices are in rupees per kg. Comex gold and silver futures prices are in dollars per ounce. Last traded prices are as of the time of writing.
