Gold and silver prices today showed mixed action in Indian markets. While gold slipped slightly, silver moved up with some strength. On the Multi Commodity Exchange (MCX), gold futures dropped by Rs 104 to settle at Rs 1,00,225 per 10 grams. On the other hand, silver futures gained Rs 262 to close at Rs 1,15,917 per kilogram.
In global markets, spot gold dipped 0.2% to $3,422.95 per ounce, while US gold futures fell to $3,436.10. The drop came after US President Donald Trump announced a new trade deal with Japan. This boosted market confidence and reduced demand for safe-haven assets like gold.
What’s Behind the Move?
The new US-Japan trade agreement helped Asian markets rise. Investors were less worried, so they moved away from gold. More trade talks between the US and China are expected in Stockholm next week. Experts say if more deals are signed, gold demand may fall further.
However, the weak US dollar is keeping gold from falling too much. The dollar index hit a two-week low, and falling Treasury yields made gold more attractive for global investors.
Trump’s Jabs at the Fed
President Trump also fired fresh comments at the US Federal Reserve. He called the Fed Chair a “numbskull” and hinted he might be removed soon. This kind of talk creates short-term shocks in the gold market, especially during low trading volumes.
Analysts say if gold falls below $3,500, we might see more selling pressure. But if the dollar keeps weakening, gold might bounce back again.Broader Metal Moves
- Spot silver: Down 0.2% to $39.20/oz
- Platinum: Slightly down to $1,439.65/oz
- Palladium: Slipped to $1,272.50/oz
Despite that, silver futures stayed strong in both global and Indian markets. On MCX, silver is expected to remain above Rs 1,14,000, with resistance at Rs 1,18,000.
Also Read Tata Motors, M&M, Maruti Gain Up to 3% as US-Japan Deal Lifts Auto Stocks Globally
City-wise Gold Prices in India (per gram)
| City | 24K Gold | 22K Gold |
|---|---|---|
| Mumbai | Rs 10,233 | Rs 9,380 |
| Delhi | Rs 10,248 | Rs 9,395 |
| Chennai | Rs 10,233 | Rs 9,380 |
| Kolkata | Rs 10,233 | Rs 9,380 |
| Bengaluru | Rs 10,233 | Rs 9,380 |
| Pune | Rs 10,233 | Rs 9,285 |
Expert View
Manoj Jain from India Nivesh says the dollar weakness and trade tensions are keeping gold prices supported. He suggests buying silver in the Rs 1,14,400–1,15,200 range with a stop loss at Rs 1,13,300, targeting up to Rs 1,18,000.
Rupee and Dollar Watch
The rupee faced pressure too. It touched 86.50 against the dollar, mainly due to NATO warnings over India’s oil trade with Russia and delays in the US-India trade pact. Analysts expect the rupee to stay volatile this week.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
Also Read JSW Infra Jumps 2% After 31% Profit Surge: Buy, Sell or Hold?
