Gold and silver ETFs slide as MCX futures fall nearly 3% to Rs 1.46 lakh and Rs 2.3 lakh

Gold and silver ETFs fell as much as 5.5% on Friday as precious metals weakened on the MCX. MCX gold August futures dropped 2.75% to Rs 1.46 lakh per 10 grams, while MCX silver July futures fell 3% to Rs 2.3 lakh per kg. Analysts said MCX gold has fallen more than 4% over the past two sessions and is nearing a key support zone of Rs 144,700–Rs 142,700, while silver has declined for four straight weeks with support at Rs 223,100–Rs 219,600 per kg. Crude oil posted a modest rebound, but the broader trend remained bearish.