By News Desk 
Gold prices witnessed a sharp decline both domestically and globally on Wednesday morning. On the Multi Commodity Exchange (MCX), gold opened lower during early trading hours. The gold futures contract for June 5, 2025 delivery was trading at ₹96,726 per 10 grams, down 0.78% or ₹765.
Silver followed suit, showing a downward trend in domestic markets. The silver futures contract for July 4, 2025 delivery slipped by 0.21% or ₹205, trading at ₹96,496 per kilogram on the MCX.
Previous Day’s Performance
On Tuesday, gold prices had closed with a strong gain on the MCX. The June 5, 2025 gold contract surged 3.02% or ₹2,854, ending the session at ₹97,503 per 10 grams. Silver prices, on the other hand, remained relatively flat, ending 0.10% or ₹98 higher at ₹96,799 per kilogram for the July 4, 2025 contract.
Global Gold Prices
Gold prices saw a significant drop in international markets as well. On COMEX, gold was trading at $3,397.40 per ounce, down 0.74% or $25.40. The gold spot price also declined, trading at $3,385.66 per ounce, a fall of 1.34% or $46.06.
Global Silver Prices
Silver mirrored gold’s movement in global markets. On COMEX, silver futures were trading at $33.28 per ounce, down 0.32% or $0.11. The silver spot price was also lower by 0.51% or $0.17, trading at $33.05 per ounce during early hours.