Gold and Silver Prices Surge by Nearly One Percent

Mumbai, August 4: Gold and silver prices opened with a notable increase on Tuesday, both precious metals rising by approximately one percent.

On the Multi Commodity Exchange (MCX), the October 5, 2026 contract for gold opened at ₹143,559 per 10 grams, compared to the previous closing of ₹142,915 per 10 grams. By 9:50 AM, gold had gained ₹555 or 0.39%, trading at ₹143,470 per 10 grams. During the trading session, gold reached a low of ₹143,365 and a high of ₹143,915 per 10 grams.

Silver also experienced a price increase. The September 4, 2026 contract for silver opened at ₹218,143 per kilogram, up from the previous closing of ₹216,746 per kilogram. Currently, silver is trading at ₹219,100 per kilogram, reflecting an increase of ₹2,354 or 1.09%. In the ongoing session, silver has seen a low of ₹218,143 and a high of ₹219,896 per kilogram.

Internationally, gold and silver prices have also risen. On COMEX, gold is up by 0.55%, trading at $4,113 per ounce, while silver has increased by 1.98%, priced at $59 per ounce.

Additionally, the World Gold Council’s ‘Gold Demand Trends’ report indicates that total gold demand remained stable at 1,269 tons in the second quarter of 2026. In the first half of the year, demand increased by 2% year-on-year to an estimated 2,522 tons, valued at $380 billion.

In the second quarter, investments in gold ETFs, bars, and coins dropped to 262 tons. This decline was primarily due to a withdrawal of 45 tons from gold-backed ETFs. However, demand for ETFs remained slightly positive in the first half of the year, with a net inflow of 18 tons. Investments in bars and coins remained largely stable, with only a 3% year-on-year decline in the second quarter, while demand in the first half was 21% higher than the same period last year, driven by robust demand in the first quarter.