Gold Slumps, Silver Gains in Futures Trade

Gold prices fell sharply in futures trade on Wednesday, while silver extended its gains, reflecting divergent trends in the precious metals market amid mixed global cues. 

On the Multi Commodity Exchange (MCX), gold contracts for August delivery declined by Rs 1,853, or 1.26 per cent, to Rs 1,44,676 per 10 grams. The contract recorded a business turnover of 1,585 lots. 

Market analysts attributed the decline in gold



prices to weak spot demand and negative global signals. In the international market, gold futures fell 0.64 per cent to USD 4,090.94 per ounce in New York, further weighing on domestic sentiment.

The contrasting movement in gold and silver prices highlights the differing market dynamics influencing the two precious metals, with gold pressured by weak demand and silver benefiting from stronger investor interest and positive global trends.