Gold and silver prices declined during the week as investors remained cautious amid persistent geopolitical uncertainties, a stronger US dollar, and expectations that the US Federal Reserve may maintain a hawkish stance on interest rates if tensions in West Asia escalate.
On the Multi Commodity Exchange (MCX), gold futures for the August contract fell 2.6 per cent to settle at ₹1,43,478 per 10 grams. Silver futures for the September contract dropped 6.2 per cent to close at ₹2,22,664 per kilogram.
In the international market, COMEX gold futures for the August contract slipped 0.3 per cent to settle at 4,113.7 dollars per troy ounce, while silver futures for the September contract declined nearly 1.5 per cent to end the week at 60.16 dollars per troy ounce.
