In the bullion market, gold and silver prices declined over the week amid lingering geopolitical uncertainties, a stronger US dollar, and expectations that the US Federal Reserve would maintain a hawkish stance on interest rates if the conflict in West Asia intensifies.
At the Multi Commodity Exchange, Gold futures for the August contract shed 2.6 per cent during the week to settle at 1,43,478 rupees per 10 grams. Meanwhile, Silver futures for the September contract plunged 6.2 per cent to close at 2,22,664 rupees per kilogram.
At the Commodity Exchange (COMEX), Gold futures for the August contract dipped 0.3 per cent during the week to settle at 4,113.7 dollars per troy ounce. Silver futures for the September contract dropped nearly one and a half per cent over the week to end at 60.16 dollars per troy ounce.
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