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Mint
4 hours ago
- Business
- Mint
Gold price today: Rates ease on profit booking; Trump Tariffs uncertainty remains a key support; key MCX levels to watch
Gold price today: Gold rates eased in the domestic futures market Tuesday (July 22) morning on profit booking after gaining over 1 per cent in the previous session amid a stable US dollar. However, tariff-related uncertainties remain a key support for the yellow metal. MCX Gold August 5 contracts traded 0.10 per cent lower at ₹ 99,225 per 10 grams around 9:10 AM. MCX Silver September 5 contracts were 0.42 per cent down at ₹ 1,14,562 per kg at that time. In the previous session, Gold August futures contract rose 1.3 per cent to close at ₹ 99,328 per 10 grams, while silver September futures contract jumped nearly 2 per cent to settle at ₹ 1,15,046 per kg. A largely stable dollar and weak spot demand may be reasons behind profit booking in precious metals, even as persisting uncertainty about the US's trade negotiations with its trading partners underpins the demand for safe-haven assets. According to media reports, there is a high possibility that a potential trade deal between the European Union (EU) and the US could favour the latter. This may trigger retaliatory moves from the EU. Meanwhile, the dollar index climbed by 0.10 per cent, weighing on gold's appeal. The focus now is on the US Fed Chair Jerome Powell's speech on July 22 and the ECB interest rate decision on July 24. Experts expect gold and silver prices to remain volatile, and some of them suggest buying silver at this juncture. "We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets, Fed Chairman's speech and ahead of ECB monetary policy meetings. We suggest buying silver on dips around ₹ 1,13,500 with a stop loss of ₹ 1,12,200 for the target of ₹ 1,16,000," said Manoj Kumar Jain of Prithvifinmart Commodity Research. (This is a developing story. Please check back for fresh updates.) 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.
Economic Times
a day ago
- Business
- Economic Times
Gold holds firm at Rs 98,160/10 gm as robust US economy dims rate cut hopes. Key support levels to track
Live Events How to trade gold? Gold has support at Rs 97,770-97,440 and resistance at Rs 98,360-98,640 Silver has support at Rs 1,12,200-1,11,400 and resistance at Rs 1,13,650-1,14,500 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 As resilient US economic data dampened hopes of an interest rate cut, gold August futures contracts on MCX opened flat on Monday at Rs 98,160 per 10 grams, near their 1-week high, slightly up by Rs 136 or 0.14%.Meanwhile, silver July futures contracts were also trading flat, slightly higher by Rs 227 or 0.2%, at Rs 1,13,117 per Friday, gold and silver settled on a positive note in both domestic and international markets. The gold August futures contract settled at Rs 98,024 per 10 grams with a gain of 0.57%, while the silver September futures contract settled at Rs 1,12,950 per kg, up 0.55%.Gold and silver traded within a range last week and held their support levels. The dollar index gained for the second straight week after better-than-expected US economic data, limiting gains in precious metals.'A stronger dollar, driven by upbeat US economic data, capped gains in precious metals. Optimism around the US economy reduced expectations of an early Fed rate cut , creating resistance at higher levels. However, trade tariff concerns and continued central bank buying lent support on declines,' noted Rahul Kalantri, VP – Commodities at Mehta and silver also face resistance at higher levels, as strong US economic data dims the chances of early rate cuts by the US Fed. However, they are receiving support at lower levels due to US trade tariff uncertainties and continued global central bank buying.'The ECB monetary policy meetings and US manufacturing data could provide further direction to bullion markets,' said Manoj Kumar Jain of Prithvi Finmart Commodity Research.'We expect gold and silver prices to remain volatile this week amid global financial market fluctuations, Fed uncertainty, and ahead of the ECB's monetary policy meetings. However, gold prices could hold the support level of $3,280 per troy ounce, while silver could hold $36.40 per troy ounce on a weekly closing basis,' he the US Dollar Index (DXY) was hovering near the 98.44 mark, down by 0.04 or 0.04%.Manoj Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,12,200 with a stop loss of Rs 1,11,450 for a target of Rs 1,13,650-1,14, gold (22 carat) prices in Delhi stand at Rs 57,528/8 grams while pure gold (24 carat) prices stand at Rs 61,320/8 gold (22 carat) prices in Mumbai stand at Rs 58,008/8 grams while pure gold (24 carat) prices stand at Rs 61,864/8 gold (22 carat) prices in Chennai stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,696/8 gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,640/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
a day ago
- Business
- Time of India
Gold holds firm at Rs 98,160/10 gm as robust US economy dims rate cut hopes. Key support levels to track
As resilient US economic data dampened hopes of an interest rate cut, gold August futures contracts on MCX opened flat on Monday at Rs 98,160 per 10 grams, near their 1-week high, slightly up by Rs 136 or 0.14%. Meanwhile, silver July futures contracts were also trading flat, slightly higher by Rs 227 or 0.2%, at Rs 1,13,117 per kg. Explore courses from Top Institutes in Select a Course Category Project Management healthcare MBA Others Management PGDM Cybersecurity CXO Design Thinking Data Science Product Management Digital Marketing Operations Management Technology Finance Public Policy MCA Leadership others Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details On Friday, gold and silver settled on a positive note in both domestic and international markets. The gold August futures contract settled at Rs 98,024 per 10 grams with a gain of 0.57%, while the silver September futures contract settled at Rs 1,12,950 per kg, up 0.55%. Gold and silver traded within a range last week and held their support levels. The dollar index gained for the second straight week after better-than-expected US economic data, limiting gains in precious metals. 'A stronger dollar, driven by upbeat US economic data, capped gains in precious metals. Optimism around the US economy reduced expectations of an early Fed rate cut , creating resistance at higher levels. However, trade tariff concerns and continued central bank buying lent support on declines,' noted Rahul Kalantri, VP – Commodities at Mehta Equities. Gold and silver also face resistance at higher levels, as strong US economic data dims the chances of early rate cuts by the US Fed. However, they are receiving support at lower levels due to US trade tariff uncertainties and continued global central bank buying. 'The ECB monetary policy meetings and US manufacturing data could provide further direction to bullion markets,' said Manoj Kumar Jain of Prithvi Finmart Commodity Research. 'We expect gold and silver prices to remain volatile this week amid global financial market fluctuations, Fed uncertainty, and ahead of the ECB's monetary policy meetings. However, gold prices could hold the support level of $3,280 per troy ounce, while silver could hold $36.40 per troy ounce on a weekly closing basis,' he added. Today, the US Dollar Index (DXY) was hovering near the 98.44 mark, down by 0.04 or 0.04%. How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 97,770-97,440 and resistance at Rs 98,360-98,640 Silver has support at Rs 1,12,200-1,11,400 and resistance at Rs 1,13,650-1,14,500 Jain suggests buying silver on dips around Rs 1,12,200 with a stop loss of Rs 1,11,450 for a target of Rs 1,13,650-1,14,200. Gold rates in physical markets: Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 57,528/8 grams while pure gold (24 carat) prices stand at Rs 61,320/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 58,008/8 grams while pure gold (24 carat) prices stand at Rs 61,864/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,696/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,640/8 grams.
Time of India
6 days ago
- Business
- Time of India
Gold prices open higher at Rs 97,389 per 10 grams after 2-day fall. Should you invest at this price?
Taking support from global trade tensions, Gold August futures contracts at MCX opened higher today by Rs 178 or 0.18% at Rs 97,389/10 g after settling negatively in the previous trading session. In the last 2 days, gold prices have fallen by Rs 400. Meanwhile, silver September futures contracts surged by Rs 314 or 0.28% at Rs 1,11,800/kg after witnessing profit booking for the last 2 days. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 이 게임은 대부분의 TV 프로그램보다 더 재미있어요 – 게다가 무료예요. Raid: Shadow Legends 플레이하기 Undo On Tuesday, gold and silver settled on a weaker note in the domestic and international markets. Gold August futures contract settled at Rs 97,211 per 10 grams with a loss of 0.58% and silver September futures contract settled at Rs 1,11,486 per kilogram with a loss of 1.28%. Gold and silver extended their fall in a highly volatile session after hotter U.S. inflation data and strength in the dollar index. The U.S. CPI rose 0.3% in June against 0.1% in May, and CPI on a yearly basis came up at 2.7% against 2.4% in May. Annual core inflation rose to 2.9% in June month up from 2.8% in May. Hotter U.S. inflation data fades chances for early interest rate cuts by the U.S. Fed and intensifies selling in precious metals. Live Events Following the data, US President Donald Trump said that consumer prices were low and the U.S. Fed should bring down interest rates now. U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs, Dallas Fed Bank President Logan said. 'The dollar index hit a 3-week high and crossed 98 levels once again, and also pushed gold and silver prices lower. However, uncertainty in the global financial markets due to higher trade tariffs could support prices at lower levels,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Today, the US Dollar Index, DXY, was hovering near the 98.57 mark, falling 0.05 or 0.05%. 'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets and U.S. trade tariff uncertainty, and gold prices could hold their 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. How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 96,950-96,600 and resistance at Rs 97,440-97,770 Silver has support at Rs 1,10,500-1,09,700 and resistance at Rs 1,12,200-1,13,000 Jain suggests traders avoid long positions in gold and silver in today's session ahead of the U.S. PPI and core PPI data, but investors can accumulate in the dips. Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 58,376/8 grams while pure gold (24 carat) prices stand at Rs 62,256/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,360/8 grams while pure gold (24 carat) prices stand at Rs 61,112/8 grams. Also read: Mutual funds dump Rs 1,700 crore worth of 9 defence stocks. Too expensive to buy or smart exit? Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,744/8 grams while pure gold (24 carat) prices stand at Rs 60,432/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 57,072/8 grams while pure gold (24 carat) prices stand at Rs 60,792/8 grams. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
6 days ago
- Business
- Time of India
Silver jumps 30% in 2025 so far: Will it reach Rs 2 lakh or correct soon?
Silver prices have been on a remarkable rally in recent months, and with the precious metal continuing to climb, the Rs 2 lakh per kilogram mark is beginning to look increasingly realistic. With silver crossing Rs 1,14,000 in Indian markets for the first time—driven by a combination of global and domestic factors—analysts now project a short-term target of Rs 1,40,000, with the potential to hit Rs 2,00,000 by 2026. 'It would not be unrealistic for silver to retest levels around Rs 1,20,000/kg in the short term and potentially reach Rs 2,00,000/kg by 2026, given the bullish industrial momentum, favourable macro conditions, and sustained investor interest,' says Renisha Chainani, Head of Research at Augmont. She believes silver consumption in India will remain strong, particularly for jewellery and silverware during the festive season. Silver's rally fueled by multiple demand drivers Silver has posted impressive gains of over 30% this year, trading at nearly a 14-year high in international markets. For the first time since September 2011, silver prices have surpassed $39 per troy ounce, breaking through key historical resistance levels. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, silver's dual role as both a precious and industrial metal is driving strong demand. The metal has been in a net deficit for the past four to five years, and some studies predict this shortfall could exceed 700 million ounces by 2025. Also read: Commodity Radar: Gold glitters with 27% YTD surge in 2025: 5 key indicators to watch next Silver's Rally Driven by Green Demand, Investment Surge Among the key factors driving silver's surge is growing industrial demand, particularly due to the global transition from fossil fuels to greener alternatives. Silver plays a pivotal role in the renewable energy sector, with increasing use in solar panels, electric vehicles, and electronics. A rising demand for silver in green technologies, combined with higher gold prices nudging consumers toward silver ornaments, has significantly contributed to the metal's bullish run. Moreover, silver's role as a hedge against inflation has sparked strong interest in silver ETFs, which have surged in popularity among investors. In India, ETF holdings recently crossed 1,200 metric tonnes. The global macroeconomic environment — characterized by geopolitical tensions and uncertainty in U.S. trade policies — has further fueled demand. The weakness in the U.S. dollar, exacerbated by trade tariffs and a slowing American economy, has made silver a preferred investment for those looking to diversify away from traditional assets. Domestically, the depreciation of the Indian rupee against the dollar has also contributed to rising silver prices, giving an additional boost to Indian investors. Silver Price Outlook: Rs 2 Lakh/kg by 2026 Silver is currently trading above $39 per troy ounce in the international market. Analysts foresee the rally continuing, with prices potentially reaching $42 per ounce in the short term. In Indian markets, this translates to around Rs 1,20,000 per kilogram. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, based on technical indicators, silver could touch Rs 1,20,000/kg in the near term, with the current rally likely to pause around $42 per ounce. However, the long-term outlook remains bullish. Analysts project silver could test $50 per ounce (Rs 1,40,000/kg) by March 2026. By the end of 2029, prices could climb to $65–70 per ounce, or Rs 1,80,000–2,00,000 per kilogram. Renisha Chainani, Head of Research at Augmont, also points to strong domestic consumption trends, especially for jewellery and silverware during festive seasons. She forecasts that silver could retest Rs 1,20,000/kg in the near term and sees a strong possibility of it touching Rs 2,00,000/kg by 2026, driven by bullish industrial momentum, favourable macroeconomic conditions, and sustained investor interest. Also read: Buyers keep hands off gold, as sales plunge 60% in June, steepest drop since Covid With silver steadily advancing toward Rs 2 lakh per kilogram, driven by a powerful combination of industrial demand, investor interest, and supportive macroeconomic factors, the metal's bull run appears far from over. As the clean energy transition accelerates and geopolitical uncertainties persist, silver's dual role as an industrial essential and investment hedge continues to strengthen, setting the stage for potential new highs in the years ahead. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
