Gold, silver futures fall on MCX and Comex amid global uncertainty

Gold and silver futures opened lower on both MCX and Comex, with prices remaining under pressure during Wednesday's trading session despite ongoing global uncertainties

Global tensions pushed gold and silver futures prices lower on Wednesday (July 15). Futures opened lower in both the global and domestic markets. On Comex, gold slipped to around $4,040 per ounce, while silver was trading near $58.75 per ounce. At the time of writing, gold futures on MCX were trading at around ₹1,41,300, while silver futures were trading at around ₹2,22,450.

 

Gold prices decline 

Gold futures opened lower. On MCX, the benchmark August gold contract opened at ₹1,41,148, down ₹1,109 from the previous close of ₹1,42,257. At the time of writing, the contract was trading at ₹1,41,300, down ₹957. During the session, it touched a high of ₹1,41,589 and a low of ₹1,40,740. Gold futures have touched a record high of ₹1,80,779 this year.

 

Silver also falls 

Silver futures also opened on a weak note. On MCX, the benchmark September silver contract opened at ₹2,21,926, down ₹1,263 from the previous close of ₹2,23,189. At the time of writing, the contract was trading at ₹2,22,460, down ₹729. During the session, it touched a high of ₹2,22,497 and a low of ₹2,21,064. Silver futures touched a record high of ₹4,20,048 per kg this year.

 

Gold and silver weaken in the international market

 

Gold and silver futures were also trading lower in the international market. On Comex, gold opened at $4,059.80 per ounce, compared to the previous closing price of $4,069.70 per ounce. At the time of writing, it was trading at $4,037.50 per ounce, down $32.20. Gold futures had touched a record high of $5,586.20 this year.

On Comex, silver futures opened at $59.04 per ounce, compared to the previous closing price of $59.10. At the time of writing, they were trading at $58.75 per ounce, down $0.34. Silver futures had touched a high of $121.79 this year.

  Prices on MCX and Comex 

MCX	Open	Last Close	LTP
Gold	1,41,148	1,42,257	1,41,300
Silver	2,21,926	2,23,189	2,22,460
Comex	Open	Last Close	LTP
Gold	4,059.80	4,069.70	4,037.50
Silver	59.04	59.1	58.75

  Note: On MCX, gold futures prices are quoted in rupees per 10 grams and silver futures prices in rupees per kilogram. On Comex, both gold and silver futures prices are quoted in US dollars per ounce. The Last Trading Price (LTP) values are as of the time this report was written.