<p><a href="https://www.mid-day.com/business/business-news/article/gold-prices-in-mumbai-fell-nearly-rs-2000-on-wednesday-as-peace-talks-weigh-on-safe-haven-demand-23636602" rel="nofollow">Gold and silver prices traded lower</a> on Monday, with gold slipping below the Rs 1.44 lakh mark on the Multi Commodity Exchange (MCX) amid weak global cues and cautious investor sentiment.</p>
<p>On the Multi Commodity Exchange (MCX), August gold futures opened at Rs 1,44,180 per 10 grams, slightly higher than the previous close of Rs 1,44,162.</p>
<p>However, the early gains did not last. By around 10 am, gold was trading at Rs 1,43,470 per 10 grams, down Rs 692 or 0.48 per cent from the previous close.</p>
<p>During the session, the contract touched an intraday high of Rs 1,44,180 --&nbsp; its opening level, before slipping to a low of Rs 1,42,690 down Rs 1,472 or 1.03 per cent from the previous close at around 2pm.</p>
<h2>Mumbai bullion prices</h2>
<p>In the Mumbai bullion market, standard gold (99.5) opened at Rs 1,41,343 per 10 grams, while pure gold (99.9) was quoted at Rs 1,41,911 per 10 grams.</p>
<p>Silver spot rates stood at Rs 2,21,600 per kg, as per PTI.</p>
<h2>Silver futures trade lower</h2>
<p>Silver futures for September remained largely flat in early trade before moving lower.</p>
<p>The contract opened at Rs 2,23,912 per kg compared with the previous close of Rs 2,23,472. By around 10 am, silver was trading at Rs 2,23,174 per kg, down Rs 298 or 0.13 per cent.</p>
<p>So far in the session, silver touched a high of Rs 2,24,248 per kg and a low of Rs 2,22,641, a decline of Rs 831 or 0.37 per cent.</p>
<h2>International prices remain under pressure</h2>
<p>The weakness in domestic prices mirrored the global trend.</p>
<p><a href="https://www.mid-day.com/business/business-news/article/gold-silver-prices-today-bullion-prices-rise-after-muharram-holiday-gold-tops-rs-1-43-lakh-on-mcx-23637009" rel="nofollow">COMEX gold declined </a>0.41 per cent to USD 4,078 per ounce, while COMEX silver fell more than 1 per cent to USD 58.52 per ounce.</p>
<p>Commodity market analysts said several global factors continued to weigh on bullion prices. "Gold remained under pressure as investors turned cautious amid renewed geopolitical tensions and expectations that the US Federal Reserve could keep interest rates higher for longer," analysts said, reported IANS.</p>
<p>They added that a stronger US dollar and higher US Treasury yields also reduced the appeal of non-interest-bearing assets like gold.</p>
<h2>Geopolitical tensions and US data in focus</h2>
<p>According to analysts, <a href="https://www.mid-day.com/business/business-news/article/gold-price-updates-prices-in-mumbai-nears-1-5-lakh-mark-hits-record-high-on-mcx-amid-global-turmoil-23613162" rel="nofollow">safe-haven demand for gold received only limited support</a> after fresh exchanges between the US and Iran over the weekend strained the fragile ceasefire. "While the recent US-Iran peace framework had eased concerns over energy-driven inflation by pulling crude oil prices lower, renewed attacks on vessels near the Strait of Hormuz have revived uncertainty over the region," they said, as per IANS.</p>
<p>Market participants are now awaiting a series of key US economic indicators, including consumer confidence, ADP employment data, weekly jobless claims and non-farm payrolls. These reports are expected to provide fresh clues on the Federal Reserve's interest rate path and the future direction of the US dollar, reported IANS.</p>
<h2>Rupee strengthens slightly, crude oil moves higher</h2>
<p>In the currency market, the Indian rupee opened five paise stronger at 94.35 against the US dollar, compared with its previous close of 94.40, as per reports.</p>
<p>Meanwhile, oil prices edged higher, with Brent crude rising about 1 per cent to USD 72.78 per barrel. US West Texas Intermediate (WTI) crude gained more than 2 per cent to trade near USD 71 per barrel, as per agencies.</p>
<p>&nbsp;</p>

Gold, silver prices declined on Monday, with MCX gold slipping below Rs 1.44 lakh per 10 grams amid weak global cues, stronger USD and expectation of FED hike

Gold, silver prices decline as stronger dollar and Fed rate outlook weigh on bullion

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On the Multi Commodity Exchange (MCX), August gold futures opened at Rs 1,44,180 per 10 grams, slightly higher than the previous close of Rs 1,44,162

Gold falls below Rs 1.44 lakh, silver slips amid weak global cues

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