Latest news with #MCX
Economic Times
5 hours ago
- Business
- Economic Times
Gold prices surge above Rs 99k ahead of FOMC July meeting outcome. Analysts suggest how to trade
Ahead of the FOMC July meeting outcome, Gold October futures contracts at MCX were trading higher by Rs 358 or 0.36% at Rs 99,477/10 grams after settling positively in the previous trading session. However, in the last one week, the prices of yellow metal have fallen by Rs 1,861, from their all-time high levels. ADVERTISEMENT Meanwhile, silver July futures contracts were trading flat with a negative bias, slightly lower by Rs 52 or 0.05% at Rs 1,13,701/kg. On Tuesday, gold and silver settled on a positive note in the domestic and international markets. Gold October futures contract settled at Rs 99,119 per 10 grams with a gain of 0.69% and the silver September futures contract settled at Rs 1,13,753 per kilogram with a gain of 0.62%. Gold and silver prices recovered from their lows after the U.S. JOLTS opening data released on Tuesday of June came lower than expected. As per the U.S. labour market's job openings and labour turnover survey reports for June month job openings fell to 7.44 million against May months reading of 7.77 million and also below analyst expectations of 7.51 million jobs.'Gold and silver prices also gained ahead of the Fed monetary policy meetings as markets are expecting that the Fed Chairman could give a hint for monetary easing in these policy meetings. Weakness in the rupee and surge in crude oil prices also supported prices of precious metals,' said Manoj Kumar Jain of Prithvifinmart Commodity the dollar index hit a 5-week high amid U.S. tariff uncertainty and limiting gains of gold and silver. Today, the US Dollar Index, DXY, was hovering near the 98.73 mark, falling 0.15 or 0.16%. ADVERTISEMENT 'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets, the Fed monetary policy meeting and the U.S. trade tariff deadline but gold prices could hold its support level of $3,280 per troy ounce and silver prices could also hold $36.40 per troy ounce levels on a weekly closing basis,' he added. Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: ADVERTISEMENT Gold has support at Rs 98,800-98,440 and resistance at Rs 99,500-99,820 Silver has support at Rs 1,13,000-1,12,200 and resistance at Rs 1,14,400-1,15,115 Jain suggests buying silver on dips around Rs 1,13,100 with a stop loss of Rs 1,12,400 for a target of Rs 1,15,000. ADVERTISEMENT Standard gold (22 carat) prices in Delhi stand at Rs 57,808/8 grams while pure gold (24 carat) prices stand at Rs 61,656/8 gold (22 carat) prices in Mumbai stand at Rs 57,880/8 grams while pure gold (24 carat) prices stand at Rs 61,752/8 gold (22 carat) prices in Chennai stand at Rs 56,688/8 grams while pure gold (24 carat) prices stand at Rs 60,400/8 grams. ADVERTISEMENT Standard gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,552/8 grams. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
6 hours ago
- Business
- Time of India
Gold prices surge above Rs 99k ahead of FOMC July meeting outcome. Analysts suggest how to trade
Live Events How to trade gold? Gold has support at Rs 98,800-98,440 and resistance at Rs 99,500-99,820 Silver has support at Rs 1,13,000-1,12,200 and resistance at Rs 1,14,400-1,15,115 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Ahead of the FOMC July meeting outcome, Gold October futures contracts at MCX were trading higher by Rs 358 or 0.36% at Rs 99,477/10 grams after settling positively in the previous trading session. However, in the last one week, the prices of yellow metal have fallen by Rs 1,861, from their all-time high silver July futures contracts were trading flat with a negative bias, slightly lower by Rs 52 or 0.05% at Rs 1,13,701/ Tuesday, gold and silver settled on a positive note in the domestic and international markets. Gold October futures contract settled at Rs 99,119 per 10 grams with a gain of 0.69% and the silver September futures contract settled at Rs 1,13,753 per kilogram with a gain of 0.62%.Gold and silver prices recovered from their lows after the U.S. JOLTS opening data released on Tuesday of June came lower than expected. As per the U.S. labour market's job openings and labour turnover survey reports for June month job openings fell to 7.44 million against May months reading of 7.77 million and also below analyst expectations of 7.51 million jobs.'Gold and silver prices also gained ahead of the Fed monetary policy meetings as markets are expecting that the Fed Chairman could give a hint for monetary easing in these policy meetings. Weakness in the rupee and surge in crude oil prices also supported prices of precious metals,' said Manoj Kumar Jain of Prithvifinmart Commodity the dollar index hit a 5-week high amid U.S. tariff uncertainty and limiting gains of gold and silver. Today, the US Dollar Index, DXY, was hovering near the 98.73 mark, falling 0.15 or 0.16%.'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets, the Fed monetary policy meeting and the U.S. trade tariff deadline but gold prices could hold its support level of $3,280 per troy ounce and silver prices could also hold $36.40 per troy ounce levels on a weekly closing basis,' he Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,13,100 with a stop loss of Rs 1,12,400 for a target of Rs 1,15, gold (22 carat) prices in Delhi stand at Rs 57,808/8 grams while pure gold (24 carat) prices stand at Rs 61,656/8 gold (22 carat) prices in Mumbai stand at Rs 57,880/8 grams while pure gold (24 carat) prices stand at Rs 61,752/8 gold (22 carat) prices in Chennai stand at Rs 56,688/8 grams while pure gold (24 carat) prices stand at Rs 60,400/8 gold (22 carat) prices in Hyderabad stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,552/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
6 hours ago
- Business
- Economic Times
Buy the dip in gold? Rupee range & Fed impact explained
Silver may outperform gold, supported by strong base metal fundamentals,' says Anindya Banerjee, Senior VP & Head of Research – Currency, Commodity & Interest Rate at Kotak Securities. He breaks down what's driving the correction in gold and silver, the rebound in the dollar index, and the outlook for USD-INR. Excerpts: ADVERTISEMENT Q. Last week, both metals experienced heavy profit taking. How much of this correction can be attributed to the rebound in the dollar index and the US-Japan trade development? Anindya Banerjee: The relationship between bullion and the dollar index is strong. In addition, interest rate expectations from the Federal Reserve play an important role. Regarding the trade deals, the US recently signed important agreements with Japan and the European Union, and there has been a 90-day extension in the de-escalation between China and the US. These developments create a more stable policy environment, which has supported the dollar index and put downward pressure on gold and silver prices. This is the primary impact of the trade deals on the market as reflected in the dollar index movement. Q. With the Fed's upcoming policy decision and the August 1st US tariff deadline, what is the near-term outlook for precious metals? Could we see a sharp reversal? Anindya Banerjee: Since the crash in April and the unfolding of the Trump tariff drama, the market's expectation for Fed rate cuts has changed significantly. In April, market participants anticipated a reduction of 75 to 100 basis points, but that has now been revised to just a 25-basis-point cut by year-end. This change has supported the dollar index. In the current meeting, no rate cut is expected for July, though pressure may build on the Fed from August onward, particularly as the Trump administration continues to push for more aggressive cuts. However, given the high fiscal deficit and robust asset markets across various asset classes—even with looming tariff-induced inflation, it appears unlikely for the Fed to initiate significant cuts gold, currently in a sideways correction since September, the price range is roughly $3,250 to $3,450 per ounce. On MCX, a key support level is around ₹97,000–₹97,300. Should this support break, gold prices could fall toward $3,250 (or approximately ₹95,000 on MCX). Positional traders should be patient and ready for potential erosion in price toward the lower bound. Silver, meanwhile, might outperform gold in this environment, partly due to its alignment with a strong base metals market.Q. With the dollar index rebounding from three-week lows and showing high volatility, do you expect further strength? How might that affect gold prices and emerging market currencies like the rupee? ADVERTISEMENT Anindya Banerjee: The US dollar index looks poised for a significant rebound, potentially pushing above 102. The decline of earlier expectations that the Fed would implement significant rate cuts, which once drove the dollar index down from nearly 109 to 97, has now reversed. Moreover, the market currently exhibits heavy short positions, suggesting the potential for a short squeeze if a triggering event occurs. Under these conditions, unless a major global risk-off episode further accelerates the dollar's strength, we expect the index to remain largely sideways. This environment supports the notion of a sideways correction in gold prices.Q. The rupee has been weak lately, partly due to a domestic equity sell-off and stalled US-India trade talks. What is your view on the USD-INR for the coming week, especially in light of Fed policy risks? Anindya Banerjee: The uncertainty around trade negotiations between India and the US is weighing on the rupee, compounded by limited capital inflows. While there have been some debt inflows, equity markets are still facing outflows, and FDI figures have declined. Furthermore, the RBI's intervention by buying dollars helps support the lower side of the rupee. Presently, the technical range for the rupee is about 85–87 per USD. A breakout above 87 would be significant and could trigger an all-time high above 88. However, given that a trade deal with the US appears likely—reinforced by additional agreements such as the recent India-UK FTA, the rupee may find further support, keeping it within the current range. ADVERTISEMENT Q. There is significant tension between Thailand and Cambodia right now, along with other unresolved global trade issues. Could geopolitical concerns lend new support to gold and silver despite the recent corrections? Anindya Banerjee: Geopolitical tensions could impact gold and silver prices, but only if they reach a significant magnitude, similar to conflicts involving Israel and Iran or Ukraine and Russia. In the case of Cambodia and Thailand, while the situation is unfortunate, it does not currently have a global impact strong enough to influence bullion prices significantly. Moreover, even when geopolitics play a role, such impacts tend to be short-lived, lasting one to two days before fading. ADVERTISEMENT Q. What can we expect this week for bullion and other commodities? Anindya Banerjee: For bullion, silver appears attractive at its current levels (around ₹1,13,000–₹1,14,000) as medium-term players might consider accumulating longs. Gold should be viewed as a buy on dips, provided buyers are prepared for potential price drops to around ₹95,000 on MCX if key support breaks. On the broader commodity front, copper and aluminum seem promising, while oil is expected to remain range bound. Disclaimer: Recommendations, suggestions, views and opinions given by the experts/brokerages do not represent the views of Economic Times. (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
7 hours ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 30
Gold and silver prices in your city on July 30: Gold prices were subdued in the domestic futures market on July 30, while silver rates dropped as pundits await the United States Federal Reserve's (US Fed) monetary policy decision later in the day. MCX Gold October futures contracts traded 0.02 per cent up at ₹ 99,140 per 10 grams, while MCX Silver September contracts were 0.09 per cent down at ₹ 1,13,653 per kg around 9.05 am. Further, the US Dollar index fell about 0.20 per cent from its more than one-month high and benchmark 10-year Treasury yields traded near a one-month low today. Meanwhile, the Fed wants to wait for the next two months to see how US President Donald Trump's tariffs impact inflation trends. Overall, however, experts bet on gold and silver as safe haven investments to safeguard your portfolio amid volatile markets. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent RECord highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 98,440/10 gm at 12.29 pm on July 30, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,13,576/kg, it showed. Further, 24-carat gold was priced at ₹ 98,950/10 gm, according to data on the Indian Bullion Association (IBA) at 12 pm on July 30. Further, 22-carat gold was priced at ₹ 90,704/10 gms. Silver prices today are at ₹ 1,13,910/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 30 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 98,810/10 gm. • MCX Gold ratein Mumbai — ₹ 98,440/10 gm. • Silver bullion rate in Mumbai— ₹ 1,13,710/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,13,576/kg. • Gold bullion rates in New Delhi— ₹ 98,640/10 gm. • MCX Gold rate in New Delhi — ₹ 98,440/10 gm. • Silver bullion rate in New Delhi— ₹ 1,13,510/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,13,576/kg. • Gold bullion rates in Kolkata— ₹ 98,680/10 gm. • MCX Gold rate in Kolkata — ₹ 98,440/10 gm. • Silver bullion rate in Kolkata— ₹ 1,13,560/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,13,576/kg. • Gold bullion rates in Bengaluru— ₹ 98,890/10 gm. • MCX Gold rate in Bengaluru — ₹ 98,440/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,13,800/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,13,576/kg. • Gold bullion rates in Hyderabad— ₹ 98,960/10 gm. • MCX Gold rate in Hyderabad — ₹ 98,440/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,13,890/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,13,576/kg. • Gold bullion rates in Chennai— ₹ 99,100/10 gm. • MCX Gold rate in Chennai — ₹ 98,440/10 gm. • Silver bullion rate in Chennai— ₹ 1,14,040/kg. • MCX Silver 999 rate in Chennai — ₹ 1,13,576/kg. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
News18
8 hours ago
- Business
- News18
Commodity Exchange MCX To Consider Stock Split On August 1; Up 368% In 2 Years
'An announcement was made on July 11, 2025, informing that a meeting of the Board of Directors of the Company is scheduled on Friday, August 1, 2025, inter-alia, to consider and approve the Un-audited Financial Results (Standalone & Consolidated) of the Company for the quarter ended June 30, 2025," the company said in the filing. '…the Board of Directors, at its above referred meeting on August 1, 2025, would also consider a proposal for splitting the existing equity shares, having face value of Rs.10/- each, in accordance with the Companies Act, 2013, Securities Contract (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 and SEBI LODR Reg., 2015, subject to necessary approvals, as required," the filing added. The company has already fixed August 8 as the record date for the Rs 30 per share dividend that it announced recently. At noon, MCX shares were trading at Rs 7,803 per share with a fall of 0.46 per cent. The scrip opened at Rs 7,888 apiece, against the previous day close at Rs 7,839 apiece. The company's market cap as of now stood at Rs 38.74k crore. MCX shares have shown sharp short-term volatility but delivered strong long-term returns. In the past one month, the stock declined by 12.71%, underperforming the Sensex and BSE Financial Services index. However, over the last three months, it rebounded with a 27.44% gain. Since the beginning of the year (YTD), the stock is up 24.24%, significantly outperforming the Sensex's 3.77% and the sector's 10.20% rise. Over a one-year period, MCX delivered an impressive return of 85.75%, while the Sensex remained flat and the financial services index gained 10.15%. The stock has returned 459.17% over three years and 375.65% over five years Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
