Gold prices rally by Rs 2,400/10 grams in August so far, analysts predict further upside
prices at
MCX
have surged impressively by Rs 2,430 per 10 grams so far in August. However, they retreated slightly from their high today to trade at Rs 1,01,052 per 10 grams, down Rs 746 or 0.73% in intraday trade.
Similarly,
silver
September contracts witnessed slight profit booking, trading lower by Rs 390 or 0.34% at Rs 1,14,491 per kg.
Productivity Tool
Zero to Hero in Microsoft Excel: Complete Excel guide
By Metla Sudha Sekhar
View Program
Finance
Introduction to Technical Analysis & Candlestick Theory
By Dinesh Nagpal
View Program
Finance
Financial Literacy i e Lets Crack the Billionaire Code
By CA Rahul Gupta
View Program
Digital Marketing
Digital Marketing Masterclass by Neil Patel
By Neil Patel
View Program
Finance
Technical Analysis Demystified- A Complete Guide to Trading
By Kunal Patel
View Program
Productivity Tool
Excel Essentials to Expert: Your Complete Guide
By Study at home
View Program
Artificial Intelligence
AI For Business Professionals Batch 2
By Ansh Mehra
View Program
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Mix 3 Kitchen Ingredients, Wake Up Thinner Every Morning
Get Fit Today
Click Here
Undo
On Friday, gold and silver settled on a positive note in both domestic and international markets. Gold October futures settled at Rs 1,01,798 per 10 grams with a gain of 0.33%, while silver September futures settled at Rs 1,14,881 per kg with a gain of 0.52%.
However, prices slipped below $3,380 per ounce on Monday morning after news broke that US President Donald Trump will meet Russian President Vladimir Putin on August 15 in Alaska to discuss the Ukraine conflict, reducing
safe-haven
demand.
Gold and silver extended their gains last week amid US trade tariff uncertainty and profit-taking in the dollar index.
Gold prices
hit a lifetime high in the international markets and closed at record levels, while silver crossed the $38.50 per troy ounce mark. Safe-haven buying by global central banks and ongoing geopolitical uncertainty continue to support bullion prices.
Live Events
'Gold crossed its
resistance
level of $3,454 per troy ounce, and if prices sustain above these levels, they could strengthen further toward $3,509–3,540 per troy ounce in upcoming sessions,' said Manoj Kumar Jain of Prithvi Finmart Commodity Research.
Today, the US Dollar Index (DXY) hovered near 98.05, down 0.13 points or 0.13%.
'We expect gold and
silver prices
to remain volatile this week amid US tariff uncertainty and fluctuations in the dollar index. Gold is expected to trade in the range of $3,410–3,540 per troy ounce, while silver may trade between $36.80 -40.00 per troy ounce,' he added.
How to trade gold?
Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:
Gold
has support at Rs 1,01,000-1,00,575 and resistance at Rs 1,02,220-1,02,850
Silver
has support at Rs 1,13,650-1,12,800 and resistance at Rs 1,15,500-1,16,650
Jain suggests buying silver on dips around Rs 1,14,000 with a stop loss of Rs 1,12,800 for a target of Rs 1,16,000.
Gold rates in physical markets:
Gold price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 57,672/8 grams while pure gold (24 carat) prices stand at Rs 61,456/8 grams.
Gold price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 57,600/8 grams while pure gold (24 carat) prices stand at Rs 61,456/8 grams.
Gold price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 57,000/8 grams while pure gold (24 carat) prices stand at Rs 60,736/8 grams.
Gold price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 57,096/8 grams while pure gold (24 carat) prices stand at Rs 60,888/8 grams.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
2 minutes ago
- Business Standard
Atomic Capital closes ₹400 cr maiden fund, to invest in startups over 3 yrs
Venture Capital firm Atomic Capital on Tuesday announced the final closure of its ₹400 crore maiden fund, which it plans to invest in early-stage consumer startups over the next 2-3 years. With an average first cheque size of ₹10 to 30 crore, the fund aims to build a curated portfolio of 10-12 companies, with a portion of the corpus reserved for follow-on investments, a company statement said. "Early growth investment fund Atomic Capital has announced the final close of its maiden fund with a corpus of over Rs 400 crore, focused on early growth-stage Indian consumer, consumer-tech, and consumer-enabler startups. "This is one of the largest debut funds dedicated to fuelling India's next wave of consumer growth," the statement said. The fund would be investing in early growth stage Indian consumer, consumer-tech, and consumer-enabler startups in sectors spanning food and beverages, nutraceuticals, personal care and beauty, jewellery, apparel and footwear, pet care, travel and accessories, electronics accessories, home furnishing, logistics, financial services, e-Commerce SaaS, omnichannel infrastructure and manufacturing. The first close of the fund was reached at ₹155 crore in 2024. Atomic Capital has already invested a total of ₹50 crore in four companies. "Our focus is on capital-efficient businesses addressing large and expanding markets. Over the next 2-3 years, we plan to deploy both initial and follow-on capital, aligned with our overall fund timeline of eight years. We are currently evaluating over 20 companies and have already issued a term sheet for our fifth investment," Atomic Capital, founder and managing partner, Apoorv Gautam said.
Economic Times
2 minutes ago
- Economic Times
Debt funds witness best month of FY25 as investors return to safety and yield
Debt mutual funds staged a strong comeback in July 2025, posting net inflows of Rs 1.06 lakh crore, the highest monthly tally of the current financial year after two consecutive months of outflows. ADVERTISEMENT In contrast, the category had witnessed redemptions of Rs 15,908 crore in May and Rs 1,711 crore in June. Open-ended debt mutual funds saw inflows of Rs 1.07 lakh crore in July, marking a sharp turnaround from June's muted activity, highlighted Nehal Meshram, Senior Analyst, Manager Research, Morningstar Investment Research. Meshram attributed the rebound to robust allocations in institutional-heavy categories such as money market and liquid funds, supported by renewed participation in overnight funds. Money market funds led the rally, attracting Rs 44,573 crore, its strongest monthly inflow in recent times — building on steady demand over the last few months. The category has now added nearly Rs 97,000 crore in the past quarter, cementing its position as a preferred parking avenue for surplus capital. ADVERTISEMENT Liquid funds also recorded a solid comeback, with inflows of Rs 39,354 crore, while overnight funds garnered Rs 8,866 crore after two months of redemptions. Unlock 500+ Stock Recos on App The strong momentum in the liquid and money market segments was boosted by new fund launches, the JioBlackRock Liquid Fund raised Rs 8,917 crore, and the JioBlackRock Money Market Fund collected Rs 6,285 crore in July. ADVERTISEMENT Short-duration strategies continued to attract investor interest. Ultra short duration funds received Rs 2,277 crore, while low duration funds garnered Rs 9,766 crore, reflecting steady appetite for low-risk, carry-oriented short duration funds are a category of debt mutual funds in India that invest in fixed-income instruments such as treasury bills, commercial papers, certificates of deposit, corporate bonds, and other money market instruments but with very short maturities. ADVERTISEMENT Corporate bond funds also saw net inflows of Rs 1,421 crore, supported by stable credit sentiment and attractive spreads. Gilt funds reversed June's outflows to post inflows of Rs 1,050 not all segments benefited from the rebound. Banking & PSU funds recorded the steepest outflows in the fixed-income space at Rs 662 crore, Meshram noted. ADVERTISEMENT Credit risk funds saw redemptions worth Rs 221 crore, pointing to ongoing caution toward lower-rated credits despite improving corporate balance duration funds faced withdrawals of Rs 416 crore, as uncertainty around the timing and scale of monetary easing discouraged duration-heavy performance pushed year-to-date net inflows for fixed-income funds past Rs 2.28 lakh crore, making it one of the best months of FY25 for the said the broad-based gains across money market, liquid, and corporate bond categories underscore sustained investor appetite for yield-carry opportunities, even as investors remain selective with longer-duration exposure. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Hans India
2 minutes ago
- Hans India
Rainbow Children's Medicare to acquire 76 pc stake in Pratiksha Hospital
Multi-speciality pediatric hospital chain Rainbow Children's Medicare Ltd on Tuesday said it will acquire a 76 per cent stake in Guwahati-based Pratiksha Hospital for around Rs 171 crore. The Hyderabad-based healthcare firm has inked a definitive agreement with promoters of Pratiksha Hospital for the stake buy. The transaction values Pratiksha Hospital at an enterprise valuation of Rs 171 crore, fully funded via the company's cash reserves and internal accruals, Rainbow Children's Medicare Ltd (RCML) said in a statement. RCML will acquire a 76 per cent controlling stake, while promoter Dr Sharma & his family will retain the balance share in Pratiksha Hospital, it added. Founded in 1995 by Pramod Kumar Sharma, a pioneer of IVF, minimal invasive gynaecology surgery in Northeast India, Pratiksha Hospital commenced operations in Guwahati and subsequently delivered its first IVF baby in February 1997. "This partnership empowers us to reach a wider community and deliver top-tier pediatric and maternal care to the families of Assam and Northeast India," RCML Chairman & MD Ramesh Kancharla said. Shares of the company were trading 2.41 per cent up at Rs 1,540 apiece on BSE.
