Gold, Silver Prices Dip Further After Trading Higher— Check Prices In Mumbai, Chennai, Other Cities

Gold and silver saw further dip on Wednesday after trading higher on Monday. The yellow metal was trading at Rs 97, 600 per 10 gm, as per the India Bullion Association, the commodity was trading higher at Rs 98,210 per 10 gm on Monday. In the last six months, the highest price that the yellow metal had soared to was Rs 1,00,470 on June 15. Price of the commodity has gone as low as Rs 95,780 on June 28.

Last week, the highest price that the commodity rose to was Rs 97,580 on July 7 on the back of Trump's roll out of fresh tariffs and safe haven demand. The prices had slipped to Rs 96,790 on July 9.

In New Delhi, the price stood at Rs 97,260 per 10 gm on Wednesday compared to Rs 97, 820 per 10 gm on Tuesday. Gold price in Mumbai was Rs 97,430 per 10 gm, against Rs 97,990 per 10 gm the previous day.

In Kolkata, the rate was Rs 97, 300 per 10 gm, while in Bengaluru the rate stood at Rs 97,500. The price of the precious commodity was the highest in Chennai, trading at Rs 97,710 per 10 gm.

In the United States, gold was trading lower at $3,338.20 an ounce.

Aug. 5 futures for the yellow metal was flat as it was trading at Rs 97,208 according to the Multi Commodity Exchange.

Silver surged on Tuesday, standing at Rs 111,700 per kg, compared to Rs 113,080 per kg on Tuesday. Sept. 5 futures for the commodity saw a 0.03% advance to stand at Rs 1,11,525 per kg.

It was trading at $38.11 in the United States on July 16.

On Monday, MCX Silver futures for Sept. 5 had hit a fresh record high of Rs 1,14,875 during trade. The silver futures for December have also hit a high of Rs 1,16,566 according to the Multi Commodity Exchange.