Gold and Silver Prices Plummet in Indian Futures Markets

Gold and silver prices declined in India's futures markets on Wednesday, August 19. The spot demand for gold fell, causing its price to drop to Rs 1,53,600 per 10 grams. Silver prices also decreased by over Rs 4,000 to Rs 2,28,396 per kilogram.

The MCX (Multi Commodity Exchange) saw a decline in gold futures with a business turnover of 837 lots. The price fell by Rs 636, or 0.41 percent, to Rs 1,53,626 per 10 grams. In the international market, gold futures rose 0.10 percent to US$4,338.74 per ounce.

Silver contracts for September delivery on the MCX also fell by Rs 4,023 or 1.73 percent to Rs 2,28,396 per kilogram. The white metal was up 0.99 percent at US$62.74 per ounce globally.