Prices of gold and silver experienced a decline on Monday, with both precious metals dropping around 0.70%. On the Multi Commodity Exchange (MCX), the gold contract for October 5, 2026, fell to ₹153,500 per 10 grams from the previous closing of ₹154,381 per 10 grams.
By 10:30 AM, gold was trading at ₹153,553 per 10 grams, down ₹828 or 0.54%. During the trading session, gold reached a low of ₹153,050 per 10 grams and a high of ₹154,059 per 10 grams.
Silver prices also saw a decrease. The December 4, 2026, silver contract was priced at ₹240,004 per kilogram, down from the previous closing of ₹241,603 per kilogram. At the time of reporting, silver was trading at ₹239,914 per kilogram, reflecting a drop of ₹1,689 or 0.70%. In the current trading session, silver hit a low of ₹239,893 per kilogram and a high of ₹241,122 per kilogram.
In the international market, both gold and silver prices were under pressure. Gold on COMEX traded down 0.75% at $4,391 per ounce, while silver was down 0.76% at $66 per ounce. Analysts attribute the decline in precious metal prices to the strengthening dollar index, which remains above 100, marking its highest level in four weeks. Additionally, easing global tensions are also considered a factor contributing to the drop in these metals.
The dollar index measures the value of the U.S. dollar against six major currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc.