Gold futures, set to mature on June 5, 2024, were recorded at Rs 72,240 per 10 grams on the MCX, reflecting a marginal decrease of Rs 566 or 0.78 percent from the previous close of Rs 72,806.

Similarly, silver futures, slated to mature on May 3, 2024, experienced a decline of Rs 1,106 or 1.32 percent, trading at Rs 82,401 per kilogram on the MCX, compared to the previous close of Rs 83,507.

The downward trend in gold and silver prices on the MCX indicates a shift in investor sentiment and market dynamics. Factors such as global economic indicators, geopolitical tensions, and fluctuations in currency markets can influence the demand and pricing of precious metals.

Gold, often considered a safe-haven asset, tends to attract investors during times of uncertainty or market volatility. Conversely, silver, with its dual role as both a precious metal and an industrial commodity, is sensitive to changes in industrial production and economic growth.

The recent dip in gold and silver prices on the MCX may be attributed to a variety of factors, including profit-taking by investors, fluctuations in global commodity markets, and changes in demand dynamics.