Mumbai, May 18: Gold and silver began the week on a downward trend on Monday. However, both precious metals quickly turned positive during early trading.
On the Multi Commodity Exchange (MCX), gold contracts for June 5, 2026, opened at ₹1,58,076, reflecting a decline of ₹471 or 0.29% from the previous close of ₹1,58,547. Yet, early trading saw a rebound, with prices rising by ₹133 or 0.08% to ₹1,58,680 by 9:15 AM. Throughout the trading session, gold reached a low of ₹1,57,547 and a high of ₹1,58,547.
Silver contracts for July 3, 2026, opened at ₹2,67,400, down by ₹4,486 or 1.64% from the last closing price of ₹2,71,886. Early trading also showed an uptick, with prices increasing by ₹764 or 0.28% to ₹2,72,650. During the session, silver hit a low of ₹2,64,949 and a high of ₹2,74,145.
On a global scale, gold and silver prices are experiencing a decline. In COMEX, gold is down by 0.39% at $4,543 per barrel, while silver has dropped by 2.28% to $75.778 per barrel.
Experts attribute the global decline in gold and silver prices to the US 10-year bond yield rising to 4.65%. This has strengthened the dollar, putting additional pressure on precious metal prices.
Despite this recent dip, both gold and silver have delivered strong returns over the past year. Gold has gained over 40% and silver has surged more than 131% in dollar terms.
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