Gold and Silver Prices Continue Downward Trend on MCX Amidst Weak Market Conditions

Gold prices continued to fall on the Multi Commodity Exchange (MCX) on September 4, amidst weak market conditions. The COMEX gold price dropped by 0.59% to approximately USD 4,478.5 per troy ounce in the international market. On the MCX, the gold October 5 contract fell by Rs 1,025 or 0.65%, touching an intraday low of Rs 1,54,750 per 10 grams. According to Ponmudi R, CEO of Enrich Money, 'Immediate support is at Rs 1,54,000-153,500, with next support at Rs 1,52,000-151,500.' The gold December 2026 futures were down by Rs 615 or 0.39% to trade at Rs 1,56,860 per 10 grams in business turnover of 8003 lots. Meanwhile, the silver price on MCX also fell, with a drop of Rs 1,737 or 0.72%, touching an intraday low of Rs 2,40,420 per kg.