Gold, Silver Prices Slip Lower — Check Rates In Delhi, Mumbai, Chennai, Bengaluru And Other Cities

Gold prices slipped marginally along with Silver on Monday after a stable range of trade last week. The yellow metal was trading at Rs 99,820 per 10 gm, as per the India Bullion Association, the commodity was trading at Rs 99,950 per 10 gm on Friday.

Gold has been seeing a steady climb for nearly last six months, as traders heightened activity in the safe haven asset following first announcement of tariffs by US on other nations. In the last six months, the highest price that the yellow metal had soared to was Rs 100,82 on June 22. The price of the commodity has gone as low as Rs 87,100 on April 7.

Last week gold prices increased by 0.79% and closed at $3,362 levels. On MCX prices closed higher by 1.98% and closed at 99,754 levels. There was risk premium safe haven demand paired with political economical uncertainty that supported the gold prices.

In New Delhi, the price stood at Rs 99,470 per 10 gm compared to Rs 99,600 per 10 gm on Friday. The gold price in Mumbai was Rs 99,640 per 10 gm, against Rs 99,770 per 10 gm the previous day.

In Bengaluru, the rate stood at Rs 99,720 while in Kolkata, it was Rs 99,510 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 99,930 per 10 gm.

Gold spot price was trading lower at $3,347 an ounce.

Aug. 5 futures for the yellow metal was trading 0.02% lower at Rs 99,734 according to the Multi Commodity Exchange.

Silver prices corrected by 2.95% and closed at $37.01 levels due to correction in industrial metals after putting 50% tariff on copper. On MCX silver prices corrected by 2.47% and closed at 110258 levels. Recently silver made a new high of 1,16,641 levels.

The precious metal price was at Rs 1,10,570 per kilogram on India Bullion Association. Aug. 5 futures for silver was trading 0.03% lower at Rs 1,10,224 according to the Multi Commodity Exchange.