Gold gleams, silver struggles

Precious metals remained broadly range bound in July. After a distinctly weak performance in June, Comex gold managed to close in the green. The U.S. Federal Reserve’s dovish stance on interest rates

Precious metals remained broadly range bound in July. After a distinctly weak performance in June, Comex gold managed to close in the green. The U.S. Federal Reserve’s dovish stance on interest rates and the soft trend in the U.S. dollar helped gold prices recover in July. Comex gold gained 2.6% to close at $1,817.2 an ounce. But Comex silver lost 2.5% to $25.45 an ounce. Mirroring the global trend, MCX gold futures gained 1.9% to close at ₹48,001 per 10 gm. MCX silver futures closed 1.8% lower at ₹67,847 per kg.