Gold and Silver Rate Today (July 9): Gold prices in India remained on investors’ radar on Thursday as domestic bullion markets tracked mixed global cues. While retail gold rates in several cities witnessed marginal fluctuations, futures traded on the Multi Commodity Exchange (MCX) stayed under pressure amid a stronger U.S. dollar, rising crude oil prices and renewed geopolitical tensions in the Middle East.
According to the news agency IANS report, On the Multi Commodity Exchange (MCX), gold futures for the August 5 contract opened at Rs 1,45,200 per 10 grams, down Rs 192 from the previous close of Rs 1,45,392. During the session so far, MCX gold touched an intraday low of Rs 1,44,750, down Rs 642 or 0.44 per cent and a high of Rs 1,45,356. On the other hand, Silver futures (September 4) too witnessed selling pressure in early trade, falling as much as 0.83 per cent or Rs 1,932 to hit an intraday low of Rs 2,28,925 per kg.
Market experts believe short-term volatility may continue as investors react to global economic developments and central bank signals. Those purchasing gold for weddings or long-term investment are advised to compare rates across jewellers, verify BIS hallmark certification and monitor daily price movements before making a purchase.
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