Gold falls ₹214, silver declines ₹1,921 as investors book profits
In the global market, gold was trading near $4,680 per ounce on Comex, while silver was around $67.80 per ounce
 "Gold falls ₹214, silver declines ₹1,921 as investors book profits")
Gold and silver futures weakened on Tuesday as investors booked profits at higher levels. Gold prices had risen to a three-month high after the US Treasury unexpectedly announced higher buybacks of long-term government bonds.
In the global market, gold was trading near $4,680 per ounce on Comex, while silver was around $67.80 per ounce. On the Multi Commodity Exchange (MCX), gold futures were trading near ₹1,63,150 per 10 gram at the time of writing, while silver futures were around ₹2,42,600 per kg.
Gold weakens
Gold futures opened lower on MCX. The benchmark October gold contract opened at ₹1,63,015 per 10 gram, down ₹214 from the previous close of ₹1,63,229.
At the time of writing, the contract was trading at ₹1,63,172, down ₹57. During the session, it touched a high of ₹1,63,450 and a low of ₹1,62,015. Gold futures had touched their highest level of the year at ₹1,80,779.
Silver loses shine
Silver futures also opened lower. The benchmark September silver contract on MCX opened at ₹2,42,299 per kg, down ₹1,921 from the previous close of ₹2,44,220.
At the time of writing, the contract was trading at ₹2,42,601, down ₹1,619. During the session, it touched a high of ₹2,43,445 and a low of ₹2,42,299. Silver futures had touched their highest level of the year at ₹4,20,048 per kg.
Gold, silver weak in international market
In the international market, gold and silver futures were trading lower.
On Comex, gold opened at $4,710.10 per ounce. The previous closing price was $4,697.80 per ounce. At the time of writing, gold was trading at $4,680.10 per ounce, down $17.70. Gold prices had touched their highest level of the year at $5,586.20 per ounce.
Comex silver futures opened at $68.96 per ounce. The previous closing price was $68.59. At the time of writing, silver was trading at $67.80 per ounce, down $0.79. Silver prices had touched their highest level of the year at $121.79 per ounce.
MCX, Comex prices
Note: MCX gold futures prices are in rupees per 10 gram, 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.