Latest news with #MultiCommodityExchange
Time of India
3 hours ago
- Business
- Time of India
Silver price jumps by Rs 3,500 in just 2 days. Is a new all-time high in sight soon?
Silver prices have surged sharply over the last two trading sessions, rising by Rs 3,500 to cross the Rs 1 lakh per kilogram mark on the Multi Commodity Exchange (MCX). On Tuesday, silver July contracts touched an intraday high of Rs 1,00,555/kg, while in the previous trading session, the same settled at Rs 1,01,011/kg, up more than 4% in a single day. This was largely driven by a wave of safe-haven buying that also pushed global silver prices to a two-month high. The silver July contracts made a lifetime high of Rs 1,03,704/kg earlier in March this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký Undo The sharp rally in silver has been fueled by renewed geopolitical and economic concerns, prompting investors to turn to bullion for stability. Rising tensions between Russia and Ukraine, including escalated military activity ahead of peace talks, have heightened global uncertainty. Additionally, market sentiment turned defensive after U.S. President Donald Trump announced plans to double tariffs on steel and aluminium imports, while accusing China of violating a trade truce related to critical minerals. These developments, combined with bearish sentiment in the U.S. Dollar Index and subdued economic confidence, have made silver increasingly attractive as a store of value. Live Events The metal is widely seen as a safe-haven asset during times of geopolitical unrest and monetary policy uncertainty, particularly in low-interest-rate environments. Also read: Crash time is now: Kiyosaki urges dumping 'fake money' for silver, predicts 3x surge Are silver prices heading towards lifetime high soon? Analysts believe that silver may continue its upward trajectory in the near term. Rahul Kalantri, Vice President at Mehta Equities, stated that silver has support at Rs 100,260–99,350 and sees resistance emerging in the range of Rs 1,01,750–1,02,550. Axis Securities echoed a bullish outlook, recommending a buy on MCX Silver above Rs 98,500 with targets of Rs 1,01,500 and Rs 1,03,000, which is near its all-time high. Their technical view suggests a 'sideways to mildly positive bias' despite a bearish crossover on the MACD indicator, with the 20-week SMA acting as a key support during pullbacks. Adding to the momentum, Robert Kiyosaki, author of Rich Dad Poor Dad, described silver as 'the biggest bargain today' and suggested it 'may 3X' by 2025. He emphasized that silver remains 60% below its all-time highs and is still trading around $35 an ounce, presenting what he called the 'biggest bargain today' in the face of a potential crash in global stock, bond, and real estate markets.
Economic Times
15 hours ago
- Business
- Economic Times
Stock Radar: MCX breaks out from a Pennant formation; likely to surpass 7,000 levels; check target & stop loss
Multi Commodity Exchange (MCX), part of the exchange data platform industry, recently broke out from a Pennant formation on the daily charts which has opened room for the stock to head term traders can look to buy the stock for a target above Rs 6,900 in the next 1-2 months, suggest stock hit a high of Rs 7,046 on December 6, 2024, but it failed to hold the momentum. It closed at Rs 6,599, which translates into
International Business Times
20 hours ago
- Business
- International Business Times
Gold Prices Slip as Tariff Uncertainty and Dollar Gains Shake Markets
Investors in bustling Asian markets are negotiating a maze of volatile gold prices. Gold's value has fluctuated recently, following global economic reports and geopolitical tension. Spot gold was down 0.7% on the day, trading at $3,293.59 an ounce by May 30, 2025, with a 1.9% loss for the week. This slide comes in the face of a firmer U.S. dollar, which firmed 0.14% to 99.394, and gold becoming more expensive for those who hold other currencies. The rise of the dollar is being blamed on higher yields and fresh trade jitters. Recent events in U.S. trade policy have also contributed significantly to the volatility in gold markets. A federal appeals court temporarily revived large tariffs that former President Donald J. Trump had placed on Chinese and other foreign steel, rejecting a lower-court judgment that they were a blatant overstep of presidential power. The latest legal jousting has rekindled fears of a trade war, especially with China, and has injected uncertainty into world markets. Barron's Long-term investors there for the position in gold they own shouldn't be swayed by all this short-term noise. Analysts fear gold prices may hit $4,000 an ounce in the next 12 months as continued geopolitical uncertainty fuels global demand for safe-haven assets. Gold is already up 25.1% year-to-date—easily soundly thumping the S&P 500's paltry 0.5% gain. Gold prices have followed the global pattern in India as well. Gold futures, that is, on the Multi Commodity Exchange (MCX), fell 0.59 percent to ₹95,891 on May 30, 2025. That's thanks to a lack of demand for safe-haven assets and an increase in the value of the U.S. dollar.
Mint
a day ago
- Business
- Mint
Gold price today: Yellow metal jumps nearly 2% as geopolitical, trade war worries spark safe-haven demand
Gold Price Today: Gold prices on India's Multi Commodity Exchange (MCX) jumped nearly 2 per cent on Monday, 2 June 2025, as investors moved back to safe-haven assets due to heightened geopolitical tensions and trade war worries. Gold futures of the 5 June 2025 contract jumped 1.7 per cent or ₹ 1,630 per 10 grams to hit an intraday high of ₹ 97,505 per 10 grams on Monday's commodity market session, compared to ₹ 95,875 per 10 grams in the previous market close last week. Investors tend to pull out their money from high-risk investments like the equity markets in case of geopolitical uncertainties in the global market. Safe-haven assets like gold and government treasuries are the focus of global market investors. Deveya Gaglani, a senior research analyst of commodities at Axis Securities, attributed the rise of the precious yellow metal gold to the intensifying geopolitical tensions between Russia and Ukraine after the drone attack on Sunday, 1 June 2025. 'The better-than-expected consumer data print from the USA and a mild recovery in the dollar index led to selling in the counter. During the weekend, geopolitical tension intensified between Russia and Ukraine after Russian warplanes were damaged due to a Ukrainian drone attack. This led to a gap-up opening in the MCX,' said the commodity market expert. (This is a developing story. Please check back for updates.) Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
3 days ago
- Business
- Mint
Gold price outlook: Will yellow metal rise amid dollar-driven volatility? Experts weigh in
Gold price outlook: Gold Futures on India's Multi Commodity Exchange (MCX) closed 0.59 per cent or ₹ 568 lower on Friday, 30 May 2025, amid tepid demand for safe-haven assets and a rising US dollar backed by US economic data. MCX Gold's June contract closed 0.59 per cent lower at ₹ 95,891 per 10 grams after Friday's market session, compared to ₹ 96,459 per 10 grams in the previous commodity market close. Experts anticipate that gold prices in India will trade in a range-bound movement amid ongoing tariff uncertainty and rising dollar-driven volatility. Global gold investors will be looking out for key data like the U.S. labour data, global PMIs, and central bank decisions, including those of the European Central Bank (ECB) and the Reserve Bank of India (RBI). Bloomberg US Dollar Spot Index was up 0.05 per cent at 99.329 as of 12:00 a.m. (EDT) on Friday, 30 May 2025. The demand for safe-haven assets like gold ranges along with geopolitical tensions, as investors tend to withdraw their money from gold and switch to high-risk assets after a positive economic development. Jigar Trivedi, Senior Research Analyst at Reliance Securities, said that the precious yellow metal lost some ground after the strong US economic data release dampened demand for safe-haven gold and stabilised the US dollar last week. The US greenback steadied at 99.4 levels on Friday, 30 May 2025, after its fifth consecutive decline, amid aggressive trade policies that could undermine the dollar's appeal. The commodity market expert estimated that Comex gold will find support at ₹ 3,260 per ounce and resistance near the $3,400 level per ounce. Trivedi recommended that investors maintain a cautious sentiment with their focus on U.S. labour data, global PMIs, and other key economic data. 'Gold may see limited downside as the dollar attempts a rebound, but ongoing geopolitical risks and a packed economic calendar could support bullion in the near term. Comex Gold finds support at $3,260/oz, with resistance near $3,400/oz. Market sentiment remains cautious, with attention turning to U.S. labour data, global PMIs, and central bank decisions from the ECB and RBI in the coming week,' said Jigar Trivedi. Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said that gold prices in India in the short term are expected to witness support at near ₹ 94,000, and resistance around the ₹ 97,000 level due to the tariff uncertainty and dollar-driven volatility. 'In the short term, gold remains caught between tariff-related uncertainty and dollar-driven volatility. Traders should expect continued range-bound movement with support near ₹ 94,000 and resistance around ₹ 97,000 in the domestic market,' said Jateen Trivedi. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
