Gold prices witnessed a sharp drop on Monday as global economic factors and market sentiments impacted bullion trading. On the Multi Commodity Exchange (MCX), the price of gold futures declined by nearly ₹500, leading to increased market activity and renewed investor attention.

This significant dip in gold prices is attributed to ongoing global trade tensions and expectations around potential monetary policy shifts. Traders and investors are now closely watching movements in both domestic and international bullion markets.

On July 7, 2025, at around 9:10 AM, the August futures contract for gold on the MCX fell by ₹487, trading at ₹96,503 per 10 grams. In early trade, the price even dipped to ₹96,402 per 10 grams. Although prices have corrected today, gold is still not too far from its all-time high of ₹1,01,078 per 10 grams.

This correction comes after a sustained rally over recent weeks, where prices were steadily rising due to geopolitical uncertainty and global inflationary pressures.

Not just gold, silver also witnessed downward pressure. September futures for silver on MCX dropped by ₹182, trading at ₹1,08,247 per kilogram. Earlier in the day, the price had touched ₹1,08,395 per kilogram. Silver's all-time high remains ₹1,11,000 per kilogram.

This drop in silver prices is in line with the overall bearish sentiment in the global precious metals market, as investors remain cautious amid signs of policy shifts and fluctuating currency trends.

The global bullion market opened on a weaker note this week, following last week's strong performance. On COMEX (Commodity Exchange Inc.), gold is down by over 0.5%, currently trading around $3,322 per ounce. Silver, too, has declined by roughly 0.25%, now hovering around $37 per ounce.

According to Ajay Kedia, founder of Kedia Advisory, international traders are responding to fresh geopolitical tensions and the possibility of upcoming policy changes by central banks. He noted that these uncertainties have driven COMEX gold to trade near $3,310 per ounce, suggesting a cautious approach among investors.

• Monitor the Market Closely: If you're planning to invest in gold or silver, keep an eye on daily price movements and global cues.

• Consider Buying Opportunities: For long-term investors, today’s price dip could be an opportunity to accumulate gold at a lower rate.

• Stay Informed About Global Developments: International trade, inflation, and central bank actions are key factors affecting gold prices. Being informed helps in better decision-making.

Gold and silver prices saw a notable dip on MCX today, mainly due to global market weakness and investor caution amid trade tensions and policy speculation. While short-term traders might tread carefully, long-term investors could consider this a strategic entry point, especially with prices retreating from record highs.

Stay tuned to reliable sources and financial advisory platforms for real-time updates and insights into bullion trends.