In the bullion market, gold and silver prices declined for the second consecutive week. Investor sentiment was shaken by a stronger US dollar, higher Treasury yields 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 declined 1.8 per cent during the week to settle at 1,40,906 rupees per 10 grams. Meanwhile, Silver futures for the September contract shed three per cent to close at 2,16,013 rupees per kilogram.
At the Commodity Exchange (COMEX), Gold futures for the August contract lost 2.3 per cent during the week to settle at 4,018.8 dollars per troy ounce. Silver futures for the September contract plunged almost 6.4 per cent over the week to end at 56.33 dollars per troy ounce.
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