International Prices Rise as Indian Metals Trade Mixed

On Monday, July 6, Indian commodity exchanges displayed a split picture. While the domestic gold market stayed almost flat, silver experienced a modest decline of close to 0.5 percent.

The MCX gold contract for August 5, 2026 opened at ₹1,47,135 per 10 g, slipping marginally from the prior close of ₹1,47,378. At 9:52 a.m., the price was ₹1,47,277, a ₹101 (0.07 %) reduction. Throughout the session, gold oscillated between a low of ₹1,47,135 and a high of ₹1,47,509.

Silver’s September 4 contract started at ₹2,36,393 per kg, falling ₹1,017 (0.42 %) from the previous settlement of ₹2,37,410. By the time of reporting, it had eased to ₹2,36,143, a further drop of ₹1,267 (0.53 %). Its trading band spanned ₹2,36,001 to ₹2,37,676.

Across the Pacific, the COMEX market recorded stronger momentum. Gold climbed 1.15 % to $4,173.24 per ounce, while silver surged 2.02 % to $62.29 per ounce, suggesting a more optimistic outlook for precious metals internationally.

The World Gold Council’s latest outlook suggests that, barring major shocks, gold prices could remain confined to a narrow $4,095‑$4,105 range during the July‑December 2026 period. However, persistent geopolitical friction or macro‑economic risks could lift prices higher. Over the previous twelve months, gold has yielded a 24 % return in USD, and silver a striking 67 % gain.