Significant changes occurred in the prices of gold and silver on the first working day of the week, Monday. A sharp drop was observed in the futures price of silver on the Multi Commodity Exchange (MCX), which decreased to 2.44 thousand rubles per kilogram after opening.
Observing the dynamics of silver prices on the MCX on the first working day, it became clear that the futures price dropped to 244,815 rubles per kilogram at the start of trading for the September 4 expiration. Meanwhile, at the end of the previous week, on Friday, the price was 246,597 rubles per kilogram, indicating a decrease in the cost of silver by 1,782 rubles per 1 kg.
The current decline has made silver significantly cheaper than its historical high. In January of this year, the price of silver exceeded the 400 thousand rubles per kilogram mark for the first time, reaching a peak of 420,048 rubles per kilogram on the futures market. Currently, silver is available 175,233 rubles cheaper.
Parallel to the fall in silver prices, the price of gold increased on the MCX. Last Friday, the futures price for 10 grams of 24-carat gold closed at 162,438 rubles, but on Monday, immediately after trading began, the price rose to 163,116 rubles. Thus, gold increased in price by 678 rubles for every 10 grams.
A substantial increase in the value of gold was also noted in August. Comparing the price of 10 grams of 24-carat gold, which closed on July 31 at 143,376 rubles, with the opening of trading on Monday at 163,116 rubles, the cost of the yellow metal increased by 19,740 rubles.