Gold Price Today: Gold Drops Rs 1,593 on MCX, Silver Slips Over Rs 5,000; Check 24K, 22K & 18K Rates in Major Cities

Daily movements in the Gold Price Today have once again caught the attention of investors and jewellery buyers. Gold prices witnessed a sharp decline on July 1, while silver also traded significantly lower in both the futures and physical markets. The latest rates from the Multi Commodity Exchange (MCX) and the Indian Bullion and Jewellers Association (IBJA) show that precious metals have become cheaper, offering some relief to buyers planning fresh purchases.

Gold Price Today: MCX Gold Extends Losses

Gold futures continued to weaken during Wednesday's trading session on the Multi Commodity Exchange (MCX). The August 5, 2026, gold contract opened lower and extended its losses as the session progressed.

By around 11:00 AM, 24-carat gold futures were trading at ₹1,40,953 per 10 grams, down 1.11% from the previous closing price of ₹1,42,546 per 10 grams. This translates to a decline of ₹1,593 in a single trading session.

Earlier in the day, the contract had opened at ₹1,41,393 per 10 grams, already reflecting a drop of more than ₹1,100 from the previous close.

Silver Price Today Falls Sharply

Silver prices also remained under pressure on the MCX.