Gold And Silver Prices Today: Bullion Falls As Stronger Dollar Weighs

Gold and silver prices traded lower on Friday, with both precious metals declining by nearly 1 per cent in domestic and international markets as a stronger US dollar and escalating geopolitical tensions in the Middle East weighed on investor sentiment.

On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at ₹1,42,392 per 10 grams, down 0.30 per cent from the previous close of ₹1,42,821.

During the session, gold fell as much as ₹1,079, or 0.75 per cent, to an intraday low of ₹1,41,742 per 10 grams before recovering some losses. It later traded around ₹1,42,376, down 0.31 per cent.

Silver futures for September delivery also opened lower at ₹2,18,280 per kg, compared with the previous close of ₹2,19,375. The white metal slipped nearly 1 per cent to an intraday low of ₹2,17,325 per kg after touching a high of ₹2,20,000 during the session.

Global bullion markets also remained under pressure. COMEX gold declined 0.48 per cent to around $4,030 an ounce, while COMEX silver slipped 0.41 per cent to $57.80 an ounce.

Commodity market experts attributed the weakness in bullion prices to the strengthening US dollar index, which climbed above the 101 mark amid heightened geopolitical uncertainty.

Escalating US-Iran tensions strengthened the dollar and pressured bullion.

MCX gold remained weak below ₹1,42,000, while silver also traded lower, with both metals facing key resistance levels.

Market experts believe the near-term outlook for both precious metals remains weak unless prices break above their immediate resistance levels.

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