Mumbai, July 15: Ongoing tensions in the Middle East have resulted in a decline in gold and silver prices on Wednesday. Both precious metals saw a drop of nearly half a percent.
According to the Multi Commodity Exchange (MCX), the futures contract for gold set for August 5, 2026, opened at ₹141,148, down ₹1,109 from the previous closing of ₹142,257.
By 9:54 AM, gold was trading at ₹141,650, reflecting a decrease of ₹607 or 0.43 percent. During the trading session, gold reached a low of ₹140,740 and a high of ₹141,695.
Silver prices also experienced a downturn. The futures contract for silver due on September 4, 2026, opened at ₹221,926, compared to the previous closing of ₹223,189.
So far, silver has traded at ₹222,580, down ₹609 or 0.27 percent.
Internationally, both gold and silver are facing selling pressure. Gold is priced at $4,040 per ounce, down 0.71 percent, while silver is at $58.84 per ounce, down 0.45 percent.
Experts suggest that the decline in gold and silver prices is attributed to the ongoing tensions in the Middle East, which have kept the dollar index above 100, thereby exerting upward pressure on the prices of these precious metals.
Additionally, strong signals from global markets have led to a positive opening for the Indian stock market on Wednesday. The Sensex and Nifty opened with gains of nearly half a percent in early trading.
Most global markets are showing an upward trend, with Tokyo, Hong Kong, Bangkok, Seoul, and Jakarta in the green. Only Shanghai is in the red. The U.S. stock market closed in positive territory on Tuesday, with the Dow Jones showing slight gains and the technology index Nasdaq rising by 0.90 percent.
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