Gold Price Today: MCX Gold Slips, Silver Extends Winning Streak

Gold and silver traded mixed on Thursday morning, with gold prices slipping on profit booking while silver extended its gains for a third consecutive session.

Investors remained focused on expectations that the US Federal Reserve is unlikely to raise interest rates in the near term, supporting overall sentiment in the precious metals market.

On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at ₹1,43,882 per 10 grams, down ₹548 or 0.37 per cent from the previous close.

During morning trade, gold declined further to ₹1,43,797, down ₹633 or 0.44 per cent, after touching an intraday low of ₹1,43,771. The yellow metal also reached an intraday high of ₹1,44,448.

Silver outperformed gold, with September futures rising as much as 0.84 per cent to an intraday high of ₹2,32,339 per kg. The white metal later traded at ₹2,30,790, up ₹406 or 0.18 per cent, after opening at ₹2,31,196, reflecting continued buying interest.

In the international market, gold slipped 0.14 per cent to $4,076 per ounce, while silver edged 0.14 per cent higher to $60.59 per ounce.

Analysts said profit booking weighed on gold after COMEX prices retreated from their recent peak, while investors awaited the US non-farm payrolls report for clues on the Federal Reserve’s interest rate outlook.

Lower crude oil prices and softer US economic data limited gold’s losses.

Easing inflation expectations and prospects of steady interest rates continued to support silver, helping it outperform gold.

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