01 July,2026 03:47 PM IST | Mumbai | mid-day online correspondent
Weak global sentiment weighs on gold and silver prices. Representational Pic
Gold prices extended their losses for the third consecutive trading session on the Multi Commodity Exchange (MCX) on Wednesday, falling more than 1 per cent, as weak global cues continued to weigh on investor sentiment.
Silver prices also traded lower, with both precious metals opening below their previous closing levels and remaining under pressure during early trade.
August gold futures opened at Rs 1,41,634 per 10 grams, Rs 897 lower than the previous close of Rs 1,42,531.
The weakness continued after the opening bell. By around 10 am, gold was trading at Rs 1,41,230 per 10 grams, down Rs 1,301 or 0.91 per cent from the previous close.
During the session, the contract touched an intraday high of Rs 1,41,634 (its opening level) before falling to a low of Rs 1,40,552 per 10 grams or by Rs 1979 which is 1.39 per cent from the previous close.
In Mumbai, 24-karat gold (99.9 per cent purity) is priced at Rs 1,40,780 per 10 grams, while 22-karat gold costs Rs 1,29,050 per 10 grams.
The price of 18-karat gold (75 per cent purity) stands at Rs 1,05,590 per 10 grams.
Silver also remained under pressure in early trade.
July silver futures opened at Rs 2,21,456 per kg, compared with the previous close of Rs 2,27,043 per kg. In early trade, the contract was trading at Rs 2,22,190 per kg, down Rs 4,853 or 2.14 per cent from the previous close.
The metal touched an intraday high of Rs 2,22,583 per kg, while the day's low was recorded at Rs 2,21,000 per kg until now.
Globally, gold futures declined by 0.94 per cent to USD 3,970.15 per ounce in New York.
COMEX gold traded lower in early trade on Wednesday. The precious metal opened at 3,994.90 and touched an intraday high of 4,032.00 before slipping to a low of 3,973.00. At market open, COMEX gold was trading at 3,994.90, down 43.60 points or 1.08 per cent from its previous close.
At the interbank foreign exchange market, the rupee opened at 94.67 against the US dollar on Wednesday. It later fell to 94.75, down 19 paise from Tuesday's closing level of 94.56.On Tuesday, the rupee had settled 5 paise lower against the US dollar.
The local currency opened lower and extended its losses during the morning session, while forex experts said the Reserve Bank of India (RBI) is likely to continue rebuilding its foreign exchange reserves whenever fresh foreign inflows enter the country, as per PTI.
Brent crude, the global oil benchmark, was trading 0.38 per cent higher at USD 73.23 per barrel in futures trade. Higher crude oil prices generally increase India's import bill, which can add further pressure on the rupee, reported PTI.
