Gold and silver prices traded lower on Monday as a stronger US dollar and growing expectations of higher US interest rates offset safe-haven demand arising from escalating geopolitical tensions in the Middle East.
On the Multi Commodity Exchange (MCX), gold futures for the August 5 contract opened at ₹1,42,633 per 10 grams, down ₹845 or 0.58 per cent from the previous close of ₹1,43,478.
During the session, gold fell as much as 1.33 per cent to an intraday low of ₹1,41,557. At around 10 a.m., the contract was trading at ₹1,42,100, down ₹1,378 or 0.96 per cent.
Silver futures for the September 4 contract also declined, falling up to 2.41 per cent to an intraday low of ₹2,17,277 per kilogram. The metal was last trading at ₹2,18,665, down ₹3,999 or 1.80 per cent.
