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Commodities

Indian Gold and Silver Prices Plummet Amid Weak Demand

Guavy AI Editorial Team
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Gold and silver prices fell in India's futures market on August 19, as weak spot demand and selling by market participants weighed on domestic prices.

The Multi Commodity Exchange (MCX) saw gold futures for October delivery drop ₹636, or 0.41%, to ₹1.53 lakh per 10 grams, with a business turnover of 837 lots.

Silver futures for September delivery declined ₹4,023, or 1.73%, to ₹2.28 lakh per kg, with a business turnover of 2,577 lots.

Gaurav Garg, Head of Research at Lemonn, attributed the gold price recovery to easing US Treasury yields, but cautioned that investors remained cautious ahead of the US Federal Reserve meeting minutes.

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