Gold Silver Rate Today(August 19): Gold and silver prices fall; here’s what you pay

On the Multi Commodity Exchange of India (MCX), the gold contract for October delivery was trading at Rs 51,490.00 per 10 grams, down Rs 113.00 (0.22 per cent) at 1:48 pm while the silver contract for September delivery was at Rs 55,690.00, down Rs 753.00 (1.33 per cent).

In the global market, Spot gold was down 0.2 per cent at $1,753.97 per ounce, as of 0706 GMT, after falling to its lowest since July 28 at $1,751.01 earlier in the session. US gold futures eased 0.1 per cent to $1,768.90, according to Reuters data.

Commenting on the bullion market, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said, “Gold prices traded under pressure over stronger dollar which rose above 107 against major currencies. The lack of fresh triggers have also capped upside in gold prices. Gold prices are set to end the week lower as hawkish signals from the US Federal Reserve on the path of US interest rates drove up the dollar. We expect gold prices to trade sideways to down for the day with COMEX spot gold support at $1,740 and resistance at $1,765 per ounce. MCX Gold October support lies at Rs 51,200 and resistance at Rs 51,800 per 10 gram.”