On Friday, the last trading day of the week, both the price of gold and silver decreased on MCX for the third consecutive session due to the reduced demand for safe-haven investments following a cooling down of geopolitical tensions. On MCX, the August-delivery contract for gold decreased by 2.3 percent, from ₹1,49,309 to ₹1,45,800. At the beginning of trading, the price of the yellow metal stood at ₹1,47,175 per 10 grams.

As of 10:29 AM when this article was written, the price of gold was quoted at ₹1,45,802 per 10 grams, which is a decrease of ₹3,507 or 2.35 percent. In addition, silver for July delivery was trading at ₹2,29,057 per kilogram, which is down ₹8,515 or 3.58 percent. The white metal opened at ₹2,32,371-down ₹5,201 or 2.1 percent from its previous close of ₹2,37,572-and subsequently fell 3.6 percent to hit an intraday low of ₹2,28,800.

Meanwhile, COMEX gold was trading 2.4 percent lower at the $4,141 level, while COMEX silver showed a weak trend, trading 4.3 percent lower at the 63.45 level. The price of gold hit a high of $5,595 in January, and has dropped by some 24 percent since then, said a market expert. The sell off by the US Federal Reserve on Friday has made the fall worse. Other reasons for the decline include fears of inflation with the rise in oil prices, the environment of rising interest rates, the dollar strengthening and the unwinding of leveraged positions. These are periodic changes and not a fundamental flaw.

The expert further noted that, despite this, anyone confidently claiming that prices have hit rock bottom is merely speculating. We can only state that the fundamentals-such as record-high government debt, continuous gold accumulation by central banks, and questions regarding the longevity of the reserve currency status-remain unchanged. No one knows if this is the right time to buy or if prices will fall further; however, investors with a five-year horizon who have not yet invested in precious metals (like gold) should at least consider doing so.

On Friday, the last trading day of the week, both the price of gold and silver decreased on MCX for the third consecutive session due to the reduced demand for safe-haven investments following a cooling down of geopolitical tensions. On MCX, the August-delivery contract for gold decreased by 2.3 percent, from ₹1,49,309 to ₹1,45,800. At the beginning of trading, the price of the yellow metal stood at ₹1,47,175 per 10 grams.

As of 10:29 AM when this article was written, the price of gold was quoted at ₹1,45,802 per 10 grams, which is a decrease of ₹3,507 or 2.35 percent. In addition, silver for July delivery was trading at ₹2,29,057 per kilogram, which is down ₹8,515 or 3.58 percent. The white metal opened at ₹2,32,371-down ₹5,201 or 2.1 percent from its previous close of ₹2,37,572-and subsequently fell 3.6 percent to hit an intraday low of ₹2,28,800.

Meanwhile, COMEX gold was trading 2.4 percent lower at the $4,141 level, while COMEX silver showed a weak trend, trading 4.3 percent lower at the 63.45 level. The price of gold hit a high of $5,595 in January, and has dropped by some 24 percent since then, said a market expert. The sell off by the US Federal Reserve on Friday has made the fall worse. Other reasons for the decline include fears of inflation with the rise in oil prices, the environment of rising interest rates, the dollar strengthening and the unwinding of leveraged positions. These are periodic changes and not a fundamental flaw.

The expert further noted that, despite this, anyone confidently claiming that prices have hit rock bottom is merely speculating. We can only state that the fundamentals-such as record-high government debt, continuous gold accumulation by central banks, and questions regarding the longevity of the reserve currency status-remain unchanged. No one knows if this is the right time to buy or if prices will fall further; however, investors with a five-year horizon who have not yet invested in precious metals (like gold) should at least consider doing so.