India Gold Prices Drop Amid Weak Demand, Geopolitical Jitters

Gold and silver prices declined in India on August 19 due to weak spot demand and profit-taking by market participants.

The MCX saw gold futures for October delivery fall Rs 636, or 0.41%, to Rs 1.53 lakh per 10 grams, while silver futures for September delivery declined Rs 4,023, or 1.73%, to Rs 2.28 lakh per kg.

Gaurav Garg of Lemonn said gold was showing some recovery after the previous session's decline, supported by easing US Treasury yields.

Jateen Trivedi of LKP Securities added that gold is likely to remain volatile as geopolitical developments continue to influence safe-haven demand.