Mumbai, May 20: Gold and silver prices have experienced a significant decline on Wednesday. Both precious metals fell by more than one percent.
On the Multi Commodity Exchange (MCX), the June 5, 2026 gold contract opened at ₹158,974, a minor drop of ₹106 from the previous close of ₹159,080.
However, the decline accelerated in early trading, and by 10 AM, gold was down by ₹736, or 0.46 percent, trading at ₹158,344.
During the trading session, gold reached a low of ₹157,959 and a high of ₹160,378.
Silver also saw a downturn. The July 3, 2026 silver contract opened at ₹267,230, down ₹2,889, or 1.06 percent, from the previous close of ₹270,119.
As of the time of reporting, silver was priced at ₹267,225, down ₹2,894 or 1.07 percent.
Silver’s trading session saw a low of ₹266,850 and a high of ₹268,464.
In the international market, both gold and silver prices are also declining. Gold is down 0.49 percent at $4,462 per ounce, while silver has fallen 0.17 percent to $73.868 per ounce.
The weakness in gold and silver is attributed to a rising dollar index, which has reached a level of 99.29.
The dollar index reflects the value of the U.S. dollar against six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc.
Meanwhile, the Indian stock market opened lower, with both major indices, Sensex and Nifty, experiencing a decline of over half a percent. This downturn is primarily led by real estate and banking shares.
–
Leave a Comment