Gold and Silver Prices Slip Amid Higher Crude Oil, Elevated Dollar

Bullion prices experienced a marginal drop on July 24, as investors opted to book profits in response to higher crude oil prices and an elevated dollar. Gold and silver prices declined on both Comex and MCX markets.

The international spot gold price decreased by 0.16% to $4,043.60 per ounce, while silver dropped 0.46% to $57.78 per ounce during morning trade on Comex.

In the domestic market, gold futures for the August contract traded at a 0.71% decline to Rs 1,41,803 per 10 grams, and silver futures for the September contract fell by 0.9% to Rs 2,17,404 per kilogram from their previous close.

The market is now awaiting fresh triggers from crude oil prices, the US Dollar Index, and the US Federal Reserve's policy decision on July 29.