Indian Gold Futures Open Lower, Silver Follows Trend Amid Geopolitical Tensions

On Friday, MCX recorded another day of falling precious‑metal prices. The 5‑August‑2026 gold contract began trading at ₹1,42,821 for 10 g and, after a modest dip, settled at ₹1,42,392. By 11 a.m., the price had weakened further by ₹870, translating to a 0.61% reduction, landing at ₹1,41,951. Throughout the session, gold oscillated between a floor of ₹1,41,742 and a ceiling of ₹1,42,393. Silver mirrored the downward bias, with the September 4 2026 contract opening at ₹2,19,375 per kg and later quoted at ₹2,18,491, down ₹884 or 0.40%. The metal’s intra‑day range was ₹2,17,325 to ₹2,18,884. On the international front, COMEX gold slipped 0.48% to $4,030 per ounce while silver fell 0.41% to $57.80 per ounce. The price pressure is largely driven by a strengthening dollar index, which has risen above 101 as US‑Iran confrontations intensify in the Middle East.