Weak US Dollar Boosts Gold to ₹1,42,002 per 10g

Gold prices in India rose sharply on Monday as the U.S. dollar index lost ground. The MCX August 5, 2026 gold contract opened at ₹1,42,002 for 10 grams, overtaking the prior close of ₹1,41,511. By 10:20 a.m., the metal was trading at ₹1,41,914, a gain of ₹403 (0.28%). The session saw a floor of ₹1,41,550 and a ceiling of ₹1,42,002. Silver moved in tandem, with the September 4, 2026 contract starting at ₹2,17,995 per kilogram, higher than the earlier ₹2,17,198. It later peaked at ₹2,19,399, after reaching a low of ₹2,17,683. Across the Atlantic, COMEX gold fetched $4,120 per ounce, up 0.32%, while silver was priced at $58.51 per ounce, up 1.24%. Analysts point to the weakening dollar—stemming from reduced demand after the US‑Iran conflict eased and falling crude oil prices—as the primary catalyst.