Latest news with #MCXSilver
Mint
2 days ago
- Business
- Mint
Gold price today: Rates climb as focus remains on US trade talks; experts highlight these key levels for MCX Gold
Gold price today: Gold rates inched up in morning trade on Monday, July 21, as investors awaited fresh updates on negotiations between the US and its trading partners, while the dollar's weakness also supported the yellow metal. The dollar index declined over 0.10 per cent, making gold cheaper in other currencies. MCX Gold August 5 contracts traded 0.11 per cent higher at ₹ 98,127 per 10 grams around 9:10 AM. MCX Silver September 5 contracts were down 0.01 per cent at ₹ 1,12,937 per kg at that time. The focus remains on US trade negotiations as the August 1 deadline approaches. Persisting uncertainty over the tariff front remains a key support for gold prices. While talks between the US and the European Union continue, according to a Financial Times report, US President Donald Trump plans to impose a minimum tariff rate of 15 per cent to 20 per cent on any deal with the European Union. Meanwhile, investors are closely watching for greater clarity on the ongoing India-US trade negotiations, which remain stalled over several key issues. One major sticking point is India's stringent regulations, including mandates for vegetarian feed in cattle farming and its cautious stance on genetically modified (GM) crops, driven by environmental and health concerns. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $38.10-37.84, while resistance is at $38.70-39.10 per troy ounce in today's session. MCX Gold has support at ₹ 97,770-97,440 and resistance at ₹ 98,360-98,640 while silver has support at ₹ 1,12,200-1,11,400 and resistance at ₹ 1,13,650-1,14,500, said Jain. Jain suggests buying silver on dips around ₹ 1,12,200 with a stop loss of ₹ 1,11,450 for the target of ₹ 1,13,650-1,14,200. Rahul Kalantri, VP of commodities at Mehta Equities, said gold has support at $3,330-3,310 and resistance at $3,370-3,390. Silver has support at $37.85-37.55 and resistance at $38.45-38.65. In INR, Kalantri said gold has support at ₹ 97,680-97,450 while resistance is at ₹ 98,250-98,480. Silver has support at ₹ 1,12,180-1,11,450 while resistance at ₹ 1,13,750-1,14,500. Read all market-related news here
Mint
6 days ago
- Business
- Mint
Gold price drops on dollar's rise, silver rates rise; experts unveil strategy for precious metals
Gold price today: Gold rates traded lower in Thursday's early trade in the domestic futures market, pressured by weak global cues and an uptick in the US dollar. Silver prices, however, climbed, supported by healthy spot market demand. Around 9:05 AM, MCX Gold August 5 contracts were 0.30 per cent down at ₹ 97490 per 10 grams, while MCX Silver September 5 contract traded 0.10 per cent up at ₹ 1,11,748 per kg. The dollar's gain and easing tariff-related concerns weigh on gold prices. The dollar index climbed 0.20 per cent, making gold expensive in overseas currencies. Meanwhile, US President Donald Trump denied reports that he was planning to dismiss Federal Reserve Chair Jerome Powell, easing market concerns that Powell's removal would dent the credibility of the US financial system and the dollar's appeal as a safe-haven currency. Powell's term ends in May 2026. Trump has been criticising Powell for not lowering interest rates and, according to media reports, was exploring the possibility of removing him. The Fed, on the other hand, is expected to keep rates unchanged until at least September this year, even though the US Producer Price Index (PPI) remained unchanged in June. However, the US Consumer Price Index (CPI) in June surged to its highest level since February. On the tariff front, Trump said on Wednesday, July 16, that America was close to finalising a trade deal with India. According to Carsten Menke, Head Economics and Next Generation Research, Julius Baer, gold is consolidating as it is missing a trigger to restart the recent rally. "As a result of easing trade tensions and receding recession risks, safe-haven demand started to soften. Central bank buying is still sound, but not as strong as earlier in the year. We still see a longer-term favourable fundamental backdrop," Menke noted. Pointing out silver's recent rally, Menke said its catch-up potential to gold seems to be exhausted. "Judging by the strength of the recent rally and the decline of the gold/silver ratio to around 85, silver does not appear particularly cheap anymore in comparison to gold. When the ratio was at 100, we highlighted silver's catch-up potential, but this seems to be very much exhausted as of now. We lift our 3- and 12-month price targets to $37 and $40 per ounce, but nonetheless downgrade our view to neutral," said Menke. Manoj Kumar Jain of Prithvifinmart Commodity Research suggests buying gold and silver on dips. "We suggest buying gold on dips around ₹ 97,300 with a stop loss of ₹ 96,850 for the target of ₹ 98,100 and also suggest buying silver around ₹ 1,10,800 with a stop loss of ₹ 1,09,900 for the target of ₹ 1,12,800," said Jain. "Gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $37.80-37.40, while resistance is at $38.40-38.70 per troy ounce in today's session. MCX Gold has support at ₹ 97,440-97,100 and resistance at ₹ 98,080-98,400 while silver has support at ₹ 1,10,800-1,10,000 and resistance at ₹ 1,12,400-1,13,100," said Jain. According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,315-3,290 while resistance is at $3,360-3,380. Silver has support at $37.40-37.10 while resistance is at $38.20-38.45. In INR, Kalantri said gold has support at ₹ 97,320-96,980 while resistance is at ₹ 97,980-98,280. Silver has support at ₹ 1,10,280-1,09,450 while resistance at ₹ 1,11,950-1,13,000. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
7 days ago
- Business
- Mint
Gold price today: Rates rise on tariff uncertainty; US PPI prints in focus; experts unveil strategy for MCX Gold, Silver
Gold price today: Gold rates rose in the domestic futures market Wednesday (July 16) morning, tracking positive global cues and weakness in the US dollar. Silver also traded with gains, supported by healthy demand in the spot market. Around 9:10 AM, MCX Gold August 5 contracts traded 0.19 per cent higher at ₹ 97,400 per 10 grams, while MCX Silver was 0.20 per cent higher at ₹ 1,11,705 per kg. Investors' focus is on the US Producer Price Index (PPI) data due on Wednesday, for more cues on inflation trends in the US. On July 15, government data showed the US inflation in June surged to its highest level since February, led by President Donald Trump's tariff policies. The Labor Department reported on Tuesday that consumer prices rose 2.7 per cent in June year-on-year. Month-over-month, inflation climbed 0.3 per cent, accelerating from a 0.1 per cent rise the previous month. As the full impact of Trump's tariffs is expected to be visible later in the year, the uptick in June inflation numbers indicates that the US Fed may not pursue rate cuts anytime soon. "June 2025 CPI was the first print to show signs of tariffs being passed through, despite disinflation in some categories holding down core CPI. Despite pressure on the Fed likely to be ratcheted up, it is almost certain to stay pat in July, with rate cuts resuming (if at all) only later in the year," said Madhavi Arora, Lead Economist, Emkay Global Financial Services. While a delayed Fed rate cut is negative for gold, Trump's tariffs remain a key positive for the yellow metal. In the last few days, the US President has announced tariffs against several of the country's key trading partners, including Canada and the European Union. Trump has signalled significant progress towards a trade deal with India, declaring confidently, 'We're going to have access into India,' even as the details remain under negotiation. (This is a developing story. Please check back for fresh updates.)
Mint
15-07-2025
- Business
- Mint
Trump's tariff: Gold price surges for fourth week. Is it right time to invest?
Gold prices continued their upward momentum for the fourth straight week amid escalating geopolitical risks and rising trade tensions. On Tuesday, July 15, Gold prices traded higher driven by heightened global trade tensions that boosted demand for safe-haven assets. As of 0635 GMT, spot gold rose 0.5 per cent to $3,359.01 per ounce, while U.S. gold futures edged up 0.3% to $3,368.20. Back home, the yellow metal inched up in early morning trade on Tuesday. MCX Gold futures for August 5 delivery were up by 0.12 per cent at ₹ 97,896 per 10 grams, while MCX Silver futures for September 5 delivery were trading 0.54% lower at ₹ 1,12,330 per kilogram during the same period. Anuj Gupta, Director, Ya Wealth Research & Advisory, says that safe haven demand against uncertainty provide support to the gold prices. The latest surge in prices is being fueled by renewed safe-haven demand, as uncertainty deepens around Trump's aggressive trade tactics and escalating US-Russia tensions. Reports suggest that Trump is preparing to send offensive weapons to Ukraine, which risks intensifying the ongoing conflict with Russia. In addition, the US administration is drafting a sanctions bill that could grant Trump sweeping authority to punish Russia and any nation supporting its war efforts. Proposed tariffs include a massive 500 per cent duty on countries aiding Russia, potentially impacting China, India, and Brazil. According to Sugandha Sachdeva- Founder-SS WealthStreet, price outlook suggests that gold remains well-supported at $3,280 per ounce in the international market, with potential to move higher towards $3,445–$3,450 per ounce in the coming sessions. ' On the domestic front, support lies near Rs.96,000 per 10gm, while prices are expected to head towards Rs.98,800 per 10gm initially. A breakout above this could pave the way for a retest of the Rs.1,00,000 mark. All eyes would now be on the US June consumer and producer price index data as well as the US Fed meeting lined up towards the end of this month, which is likely to provide further cues for the precious metal. Trade-related headlines will also continue to dominate sentiment and influence gold's trajectory,' Sachdeva said. Sachdeva further recommended investors to remain alert to macro developments, as they will be critical in shaping the next leg of gold's move, as volatility rises.
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Business Standard
11-07-2025
- Business
- Business Standard
Silver trading: White metal well-placed to rally further, says analyst
Silver Trading strategy: Performance: On July 9, spot silver traded between $36.35 and $36.9. The metal, at the time of writing, was trading at $36.75, up 1 per cent on the day, while the corresponding MCX Silver contract, gaining 1.45 per cent was noted at ₹1,08,825. Silver gained on silver ETF inflows and a reasonably healthy risk appetite as risk assets were mildly bid. Tariff developments: On Wednesday, US President Trump threatened Brazil as the latest addition to his list of countries to be subjected to reciprocal tariffs. Brazil has been slapped with an outsized tariff of 50 per cent that will come into effect from August 1. Bloomberg estimates the damage due to the proposed tariff to be around 1 per cent of GDP with a possible recession in the second half. Brazil's President Lula said that proposed 50 per cent tariffs will trigger the country's economic reciprocity law that allows trade, investment and intellectual property agreements to be suspended against countries that harm Brazil's competitiveness. The European Union is striving to seal a preliminary deal with the US to lock in a 10 per cent tariff rate before the August 1 deadline. So far this week, the US President has warned 22 countries with tariffs ranging from 20 per cent to 50 per cent as key economies like Japan, South Korea and Brazil have also been targeted. US Dollar and yields: During the day, the US Dollar Index swung between 97.27 and 97.92, and extending its winning streak to the fourth straight day was up around 0.2 per cent on the day as it hovered around 97.74. US ten-year yields rose by 2 bps to 4.36 per cent. ALSO READ | Gold outlook: Yellow metal to remain range-bound on tariff uncertainty Data roundup: The US weekly job report was encouraging as weekly jobless claims (July 5) fell from 2,35,000 to 2,27,000 against the estimate of 2,35,000, while continuing claims (June 28) at 19,65,000 matched the forecast of 19,65,000. China's PPI (June), released on July 9, came in at -3.6 per cent -- worst since August 2023-- against the forecast of -3.3 per cent (prior -3.3 per cent), as factory deflation continued for the thirty third month in a row. The consumer price index (CPI) at 0.1 per cent topped the estimate of -0.1 per cent (prior 0.1 per cent), though the outlook remains uninspiring. ETF and COMEX inventory: Total known global silver ETF holdings surged to 775.19 MOz on July 9, a fresh cycle-high, and are now at the highest level since August 2022. Silver ETFs are up nearly 59 Moz this year, up 8.24 per cent year-to-date (YTD) as ETFs have recorded inflows for eight consecutive weeks. COMEX Silver inventory at 49.72MOz is down 1.54 per cent from the all-time high level of 50.50MOz reached on May 5. Outlook: Currently, strong ETF inflow is the most crucial factor supporting silver prices. In addition, that risk appetite remains somewhat healthy is also supportive for the grey metal. Although, open Interest (OI) in COMEX September contract has come down from 132.62K contracts on July 3 to 1,25,70,000 contracts presently, overall, OI remains quite high, which may lead to a furious short-covering rally if silver breaches the key resistance at $37.5. A move above $37.5 (₹1,11,000) will put $40 (₹1,18,000) in focus. Support is at $35.70 (₹1,05,700)/$35 (₹1,03,600). Dip buying with a tight stop-loss continues to be the preferred strategy.
