Gold Silver Rate Today: Gold and silver prices remained under pressure on Tuesday, with both precious metals witnessing notable declines amid growing expectations that the US Federal Reserve could maintain a tighter monetary policy stance for longer. The weakness in bullion was also linked to the strength of the US dollar, which reduced the appeal of non-yielding assets.
On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at Rs 1,46,776 per 10 grams, down Rs 1,412 or 0.95 per cent from the previous close of Rs 1,48,188. By around noon, the contract was trading at Rs 1,46,379, reflecting a decline of Rs 1,739 or 1.17 per cent.
During the session, gold touched a high of Rs 1,47,090 and a low of Rs 1,46,070, indicating continued selling pressure across the precious metals segment.
Silver prices witnessed steeper losses than gold. MCX July silver futures opened at Rs 2,27,676 per kg, down Rs 6,634 or 2.83 per cent compared with the previous close of Rs 2,34,310. Later in the day, the white metal traded at Rs 2,27,119, down Rs 7,191 or 3.07 per cent.
So far during the session, silver touched an intraday low of Rs 2,26,556, marking a fall of Rs 7,754 or 3.30 per cent, while the day’s high stood at Rs 2,28,800 per kg.
Market analysts said gold continues to face resistance despite attempting to stabilise above key support zones. Immediate support for MCX gold is seen in the Rs 1,46,000-Rs 1,45,600 range, while resistance is placed at Rs 1,48,000-Rs 1,48,400. A sustained move above these levels could improve sentiment and pave the way for a rise towards Rs 1,49,000-Rs 1,50,000.
For silver, the near-term outlook remains weak after the metal opened with a sharp gap-down. Analysts said resistance is seen between Rs 2,30,500 and Rs 2,31,600. A decisive break below the Rs 2,28,000 support zone could push prices towards Rs 2,26,000 and even Rs 2,24,000. Reclaiming the Rs 2,30,000 mark will be crucial for any meaningful recovery.
Experts attributed the weakness in gold and silver to the stronger US dollar and concerns that the Federal Reserve may continue to keep interest rates elevated in its effort to contain inflation. Investors are also closely monitoring upcoming US employment and unemployment data, which could provide fresh direction to bullion markets later this week.
Meanwhile, in the energy market, Brent crude slipped 0.5 per cent to $77.51 per barrel, while US West Texas Intermediate (WTI) crude declined 0.35 per cent to $73.60 per barrel.
Also Read : India-US Trade Talks: Tariffs, Exports, And The Push For A Deal
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,606
22 Karat- 13,390
18 Karat- 10,959
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 14,793
22 Karat- 13,560
18 Karat- 11,340
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,591
22 Karat- 13,375
18 Karat- 10,944
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,591
22 Karat- 13,375
18 Karat- 10,944
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,591
22 Karat- 13,375
18 Karat- 10,944
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,591
22 Karat- 13,375
18 Karat- 10,944
Also Read : Iranian Oil May Return To India After US Sanctions Relief: What It Means For Fuel Prices
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 245 per gram and Rs 245,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 245 per gram and Rs 245,000 per kg.
Gold and silver prices fell due to growing expectations of the US Federal Reserve maintaining a tighter monetary policy. The strength of the US dollar also reduced the appeal of these non-yielding assets.
Gold futures for August delivery opened down by Rs 1,412 or 0.95%. By noon, the contract was trading at Rs 1,46,379, reflecting a 1.17% decline.
Silver prices experienced steeper losses than gold. MCX July silver futures opened down by 2.83% and later traded with a decline of 3.07%.
Gold has immediate support in the Rs 1,46,000-Rs 1,45,600 range. Resistance is placed at Rs 1,48,000-Rs 1,48,400.
The near-term outlook for silver remains weak, with resistance between Rs 2,30,500 and Rs 2,31,600. A break below Rs 2,28,000 could push prices lower.
Sakshi Arora is Chief Copy Editor at ABP Live English, working on business stories that track markets, global economies and key financial trends. A quick and dependable hand on the desk, she balances numbers with nuance, and is an expert on everything Personal Finance, Mutual Funds, and IPOs.
For any tips and queries, you can reach out to her at sakshia@abpnetwork.com.
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