Daijiworld Media Network – Mumbai

Mumbai, Jul 31: Gold and silver futures traded lower on Friday as profit booking, a stronger US dollar and escalating geopolitical tensions weighed on investor sentiment.

On the Multi Commodity Exchange (MCX), the August gold contract opened Rs 303 lower at Rs 1,42,929 per 10 grams compared to the previous close of Rs 1,43,232. During the session, it slipped to an intraday low of Rs 1,42,253 before trading at Rs 1,42,504, down Rs 728 or 0.51 per cent.

The October 2026 gold contract also declined, trading Rs 820 or 0.57 per cent lower at Rs 1,44,020 per 10 grams.

Ponmudi R, CEO of Enrich Money, said immediate resistance for gold is in the Rs 1,44,000–1,44,300 range, while a sustained move above Rs 1,44,300 could push prices towards Rs 1,45,300–1,45,700. He added that a fall below Rs 1,43,000 could weaken the recovery trend.

Silver futures also witnessed selling pressure. The September contract opened at Rs 2,18,769 per kg against the previous close of Rs 2,19,967, down Rs 1,198. It later touched an intraday low of Rs 2,18,538 before trading at Rs 2,19,371, down Rs 596 or 0.27 per cent.

In the international market, COMEX gold futures were down 0.49 per cent at around USD 4,109.2 per troy ounce. Spot gold, however, traded at USD 4,078.34 per ounce, up USD 22.77 or 0.56 per cent.

In the retail market, 24-carat gold was priced at Rs 1,44,750 per 10 grams in Delhi, while 22-carat gold stood at Rs 1,32,700.

In Mumbai, Kolkata and Chennai, 24-carat gold was quoted at Rs 1,44,600 per 10 grams, while 22-carat gold was priced at Rs 1,32,550 per 10 grams.

Silver prices remained unchanged across major cities, with the metal trading at Rs 2,35,000 per kg in Delhi, Mumbai, Kolkata and Chennai.