Mumbai, August 3: Gold and silver prices opened on a positive note this Monday, witnessing an increase of nearly one percent.
On the Multi Commodity Exchange (MCX), the gold contract for August 5, 2026, opened at ₹142,002 per 10 grams, compared to the previous closing of ₹141,511 per 10 grams.
By 10:20 AM, gold was trading at ₹141,914 per 10 grams, up by ₹403 or 0.28 percent. During the trading session, gold reached a low of ₹141,550 and a high of ₹142,002.
Silver also experienced a rise alongside gold. The silver contract for September 4, 2026, opened at ₹217,995 per kilogram, up from the previous closing of ₹217,198 per kilogram.
In the ongoing trading, silver was priced at ₹219,347 per kilogram, reflecting an increase of ₹2,149 or 0.99 percent. Silver’s trading range included a low of ₹217,683 and a high of ₹219,399 per kilogram.
International markets also showed a bullish trend for gold and silver. On COMEX, gold rose by 0.32 percent to $4,120 per ounce, while silver increased by 1.24 percent to $58.51 per ounce.
Experts attribute the rise in gold and silver prices to the weakening of the dollar index. The cessation of hostilities between the U.S. and Iran has led to a drop in crude oil prices, reducing the demand for the U.S. dollar and consequently weakening the dollar index.
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.
Additionally, there has been a noted weakness in crude oil prices. As of the time of this report, benchmark Brent crude was down by 5.36 percent at $83.20 per barrel, while WTI crude fell by 6.18 percent to $79.06 per barrel.
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