<p><strong><a href="https://www.mid-day.com/business/business-news/article/gold-and-silver-prices-fall-sharply-as-dollar-strength-and-global-cues-weigh-on-metals-23630612" rel="nofollow">Gold and silver prices traded lower</a></strong> on Thursday as investors closely monitored safe-haven demand and ongoing geopolitical uncertainties, reported IANS.</p>
<h2>Gold futures slip below Rs 1.60 lakh</h2>
<p>On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery declined during the trading session. The yellow metal fell as much as 0.42 per cent or Rs 687 to touch an intraday low of Rs 1,59,319 around 12 pm.</p>
<p>Later, gold was trading at Rs 1,59,400, down 0.38 per cent or Rs 606. During the session, <strong><a href="https://www.mid-day.com/business/business-news/article/us-israel-attack-iran-gold-silver-prices-fluctuate-on-mcx-amid-inflation-worries-and-geopolitical-risks-23630991" rel="nofollow">it touched an intraday high</a></strong> of Rs 1,59,992. Earlier in the day, gold opened at Rs 1,59,900 on the commodity exchange.</p>
<h2>Silver prices witness sharp decline</h2>
<p>Silver futures for July 3 delivery also traded lower on the MCX. The white metal declined 1.4 per cent or Rs 3,864 to hit an intraday low of Rs 2,70,401. It was later trading at Rs 2,70,810, down 1.26 per cent or Rs 3,455, as per IANS.</p>
<p>During the session, silver touched an intraday high of Rs 2,73,196 after opening at Rs 2,72,275. Analysts said MCX silver opened sharply lower and continued to trade cautiously above the Rs 2,72,000 level.</p>
<h2>Key levels to watch for silver</h2>
<p>As per IANS, market experts believe the Rs 2,75,000 to Rs 2,76,000 range remains a key resistance zone for silver prices. They said a sustained move above these levels could support a recovery towards Rs 2,78,000 to Rs 2,80,000.</p>
<p>On the downside, analysts warned that if silver falls below Rs 2,71,000, prices may decline further towards the Rs 2,68,000 to Rs 2,67,000 range.</p>
<p>Experts added that the short-term trend in silver will continue to depend on safe-haven buying and developments related to global geopolitical tensions, reports the news agency.</p>
<h2>Gold outlook remains cautious</h2>
<p>For gold, analysts said MCX gold opened with a mild gap lower and continued to hold above the Rs 1,59,500 level during the session.</p>
<p>They added that the near-term outlook for gold remains cautious, with price direction likely to depend on global risk sentiment and geopolitical developments.</p>
<h2>International precious metals market also weak</h2>
<p>COMEX gold was down 0.21 per cent at USD 4,525.80 per ounce, while COMEX silver declined 1.06 per cent to USD 75.37 per ounce, reported the news agency. The weakness in global prices contributed to the pressure seen in domestic gold and silver futures.</p>
<h2>Crude oil prices move higher</h2>
<p>Meanwhile, <strong><a href="https://www.mid-day.com/business/business-news/article/stock-market-updates-sensex-and-nifty-turn-volatile-amid-rising-crude-oil-prices-23626579" rel="nofollow">crude oil prices rose </a></strong>in the international market. Brent crude increased 1.55 per cent to USD 106.65 per barrel, while US WTI crude climbed nearly 2 per cent to USD 100.11 per barrel.</p>
<p><strong>(With IANS inputs)</strong></p>

Gold and silver prices fell on Thursday in both domestic and international markets as investors remained cautious due to geopolitical uncertainties 

Gold and silver prices decline on MCX amid cautious market sentiment

Sensex falls 135 points, Nifty ends flat amid volatile trade and geopolitical concerns

On the MCX, gold futures slipped below Rs 1.60 lakh, while silver prices dropped more than 1 per cent due to geopolitical uncertainties and changing safe-haven demand

Gold slips below Rs 1.60 lakh while silver drops over 1 per cent amid tensions

Gold futures slip below Rs 1.60 lakh

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Home / Business / Business News / Article / Gold slips below Rs 1.60 lakh while silver drops over 1 per cent amid tensions