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On the Multi Commodity Exchange (MCX), gold futures (August) opened at Rs 1,42,178 per 10 grams, down Rs 1,412 or 0.95 per cent from the previous close and silver was at Rs 21,697 per kg.
The London court ruled that Nirav Modi owes approximately $4.1 million, approximately Rs 389 crore, as principal amount. Furthermore, interest will be added to this amount as per the rules set by bank.
In Delhi, 24-carat gold is being sold at Rs 14,474 per gram. 22 carat is Rs 13,254 and 18 carat is Rs 10,844 per gram.
The spot price of gold rose by 1.2 per cent to reach $4,183.60 per ounce and spot price of silver surged by 2.6 per cent, reaching $66.60 per ounce.
While on Monday the prices of crude oil had crossed 82 dollars per barrel, by the end of the trading session there was a big fall in it and the price came down to around 77 dollars per barrel.
The spot price of gold rose by 1.2 per cent to reach $4,209.03 per ounce, and spot price of silver surged by 2.6 per cent, reaching $66.60 per ounce.
According to experts, there are three main reasons behind the rise in oil prices. First, Iran's decision to close the Strait of Hormuz. Secondly, the movement of ships through this important sea route has slowed down.
Last week, MCX gold is currently below Rs 147,500 per 10 grams mark and MCX silver plunged to near Rs 232,700 per 1 kg level.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri has indicated that there may be a decline in the prices of petrol and diesel in the coming times.
On Multi Commodity Exchange i.e. MCX, gold for August delivery fell by 1.37 per cent. During trading it went to an intraday low of Rs 151,768. Later it was trading at Rs 151,797 with a fall of Rs 2,082.
The price of Brent crude in the international market has reached 80.57 dollars per barrel. A week ago its price was above 87 dollars per barrel.
Both gold and silver remained under pressure on MCX, due to which both buyers and investors are keeping an eye on the market movements.
