Mumbai, April 24: Gold and silver prices opened lower on Friday, with both precious metals declining by nearly half a percent.
On the Multi Commodity Exchange (MCX), gold started at ₹151,167, compared to the previous session’s closing price of ₹151,761.
By 9:40 AM, the June 5, 2026 gold contract was down 0.47 percent, or ₹718, trading at ₹151,043. During the session, gold reached a low of ₹151,039 and a high of ₹151,457.
In contrast, silver opened at ₹239,200, down from the previous session’s closing price of ₹241,513. The May 5, 2026 silver contract fell by 0.35 percent, or ₹842, to ₹240,671. Silver’s trading session saw a low of ₹239,200 and a high of ₹241,382.
Internationally, gold and silver are also experiencing selling pressure. As of the latest updates, gold on COMEX was down 0.83 percent at $4,684 per ounce, while silver fell 0.92 percent to $74.81 per ounce.
Manav Modi, a commodity analyst at Motilal Oswal Financial Services, noted that the decline in gold and silver prices is attributed to the strengthening of the US dollar, rising yields, and uncertainty due to tensions in the Middle East.
He further mentioned that crude oil prices surpassing $100 per barrel pose a risk of inflation, adding pressure on gold and silver. Additionally, better-than-expected preliminary PMI data from the US has reinforced economic strength, reducing expectations for immediate interest rate cuts, which has also impacted gold prices.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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