Gold prices on the Multi Commodity Exchange (MCX) fell to near ₹1,40,500 per 10 grams on Tuesday morning, June 30, 2026. The August futures contract for gold declined by 1.28% to ₹1,40,574 per 10 grams. Silver prices also dropped, with September contracts falling 1.04% to ₹2,20,322 per kilogram, marking a significant dip in precious metal rates on the MCX.
The decline in gold and silver prices was driven by a rise in the US dollar and weak global market cues. Investors are reacting to speculation that the US Federal Reserve may continue to raise interest rates this year, which typically strengthens the dollar and puts downward pressure on commodity prices. The market movement was observed during the morning trading session, reflecting a cautious investor sentiment amid global economic uncertainties.
This drop in precious metal prices is notable as gold and silver are traditionally seen as safe-haven assets during times of economic instability. The recent price movement contrasts with the usual trend where geopolitical tensions or inflation fears drive prices higher. The current scenario aligns with broader global financial trends where currency strength and monetary policy expectations influence commodity markets, impacting investment decisions in India and worldwide.
As of 9:10 am IST on June 30, 2026, MCX gold August futures were trading at ₹1,40,574 per 10 grams, and silver September contracts were at ₹2,20,322 per kilogram. These figures provide a benchmark for investors monitoring precious metal price fluctuations amid ongoing economic developments.