Gold and silver prices saw a decline in both domestic and international markets on Monday, March 17, 2025, amid ongoing market fluctuations.
In the international market, COMEX gold prices were trading at around $2,993.1 per troy ounce, while spot gold prices hovered around $2,998.38 per ounce at 10:15 AM. The downward trend was reflected in the Indian market as well.
On the Multi Commodity Exchange (MCX), the gold April contract opened at ₹87,831 per 10 grams, marking a decline of ₹160 from the previous close of ₹87,991. The price further dropped to ₹87,750, recording an overall dip of ₹241 during intraday trading. As of the latest update, gold was trading at ₹87,774, down by ₹217 or 0.25%.
Similarly, silver prices also faced a dip. The silver futures contract, maturing on May 5, 2025, opened lower at ₹1,00,358 per kg, falling ₹380 from the previous close of ₹1,00,738. During intraday trading, silver hit a low of ₹1,00,357 and a high of ₹1,00,682. At the time of writing, silver was trading at ₹1,00,443, reflecting a loss of ₹295.
Analysts attribute the decline in gold and silver prices to global economic uncertainties, shifting investor sentiment, and fluctuations in the dollar index. Market participants will closely monitor upcoming economic data and Federal Reserve policy cues for further direction in precious metal prices.
