Gold and silver prices opened sharply lower on the Multi Commodity Exchange (MCX) on Monday as escalating tensions in the Gulf pushed oil prices higher, raising fresh worries about inflationary pressures. At the same time, stronger-than-expected U.S. economic data reinforced concerns that interest rates could remain higher for longer.
In the domestic market, MCX silver futures for July 2026 delivery were down Rs 5,537 (2.23%) to Rs 2,43,000 per kg. Gold futures for August 2026 delivery slipped Rs 1,792 (1.15%) to Rs 1,53,802 per 10 grams. In the previous session, silver crashed nearly 7%, while gold dipped over 2%.
