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Time of India
11 hours ago
- Business
- Time of India
Gold Price Prediction: Yellow metal dips to Rs 99,258/10 gms amid hawkish fed comments; analysts eye recovery
Gold prices opened lower after a hawkish commentary from the US Federal Reserve , which kept interest rates steady at 4.25–4.50%. On the Multi Commodity Exchange (MCX), August gold futures opened at Rs 99,258 per 10 grams, down Rs 279 or 0.28%. Silver futures for July delivery also saw a modest dip, opening Rs 256 lower at Rs 1,08,310 per kg, a decline of 0.24%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo On Wednesday, gold and silver settled on a slightly weaker note in the domestic markets and on a mixed note in the international markets. Gold August futures contract settled at Rs 99,537 per 10 grams with a loss of 0.001% and the silver July futures contract settled at Rs 1,08,566 per kilogram with a loss of 0.39%. Gold and silver showed high volatility and settled on a mixed note amid a hawkish stance of the U.S. Fed on interest rates. The U.S. Fed maintained a status quo on interest rates and left interest rates unchanged between the 4.25-4.50% range. The U.S. Fed also diminished the chances of aggressive interest rate cuts for the years 2025-2027. Fed chairman Jerome Powell projected that inflation remains elevated, economic growth remains slower, and job markets are under pressure due to higher trade tariffs and global uncertainty. Live Events 'The U.S. Fed's hawkish stance on interest rate cuts limits gains of precious metals. However, escalation in the Israel-Iran war and global central banks' buying are supporting precious metal prices,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Today, the US Dollar Index, DXY, was hovering near the 99.03 mark, gaining 0.12 or 0.12%. 'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geopolitical tensions and gold prices could hold their key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' he added. The Fed Chairman maintained a neutral stance, noting readiness to respond to external risks. Meanwhile, US data showed a softening labor market and weak housing figures. 'Gold prices held their upward bias after the Federal Reserve decided to keep policy unchanged, aligning with market expectations,' said Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies. The Relative Strength Index (RSI) remains bullish but steady, suggesting further gains are possible. How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 99,100-98,670 and resistance at Rs 99,900-1,00,350 Silver has support at Rs 1,07,750-1,07,000 and resistance at Rs 1,09,200-1,10,000 Jain suggests buying gold on dips around Rs 99,000 with a stop loss of Rs 98,570 for a target of Rs 99,700. Intraday trading strategy by Neha Qureshi: Buy MCX August Gold futures at Rs 99,500 with a stop loss of Rs 99,200 and a price target of Rs 1,00,000 Buy MCX July Silver futures at Rs 1,08,000 with a stop loss of Rs 1,06,000 and a price target of Rs 1,11,000 Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 57,832/8 grams while pure gold (24 carat) prices stand at Rs 61,608/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,576/8 grams while pure gold (24 carat) prices stand at Rs 61,392/8 grams. Gold Price today in Ch ennai Standard gold (22 carat) prices in Chennai stand at Rs 56,760/8 grams while pure gold (24 carat) prices stand at Rs 60,472/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 57,080/8 grams while pure gold (24 carat) prices stand at Rs 60,880/8 grams.
Economic Times
11 hours ago
- Business
- Economic Times
Gold Price Prediction: Yellow metal dips to Rs 99,258/10 gms amid hawkish fed comments; analysts eye recovery
Gold prices opened lower after a hawkish commentary from the US Federal Reserve, which kept interest rates steady at 4.25–4.50%. On the Multi Commodity Exchange (MCX), August gold futures opened at Rs 99,258 per 10 grams, down Rs 279 or 0.28%. ADVERTISEMENT Silver futures for July delivery also saw a modest dip, opening Rs 256 lower at Rs 1,08,310 per kg, a decline of 0.24%. On Wednesday, gold and silver settled on a slightly weaker note in the domestic markets and on a mixed note in the international markets. Gold August futures contract settled at Rs 99,537 per 10 grams with a loss of 0.001% and the silver July futures contract settled at Rs 1,08,566 per kilogram with a loss of 0.39%. Gold and silver showed high volatility and settled on a mixed note amid a hawkish stance of the U.S. Fed on interest rates. The U.S. Fed maintained a status quo on interest rates and left interest rates unchanged between the 4.25-4.50% range. The U.S. Fed also diminished the chances of aggressive interest rate cuts for the years chairman Jerome Powell projected that inflation remains elevated, economic growth remains slower, and job markets are under pressure due to higher trade tariffs and global uncertainty.'The U.S. Fed's hawkish stance on interest rate cuts limits gains of precious metals. However, escalation in the Israel-Iran war and global central banks' buying are supporting precious metal prices,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. ADVERTISEMENT Today, the US Dollar Index, DXY, was hovering near the 99.03 mark, gaining 0.12 or 0.12%.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geopolitical tensions and gold prices could hold their key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' he added. ADVERTISEMENT The Fed Chairman maintained a neutral stance, noting readiness to respond to external risks. Meanwhile, US data showed a softening labor market and weak housing figures.'Gold prices held their upward bias after the Federal Reserve decided to keep policy unchanged, aligning with market expectations,' said Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies. ADVERTISEMENT The Relative Strength Index (RSI) remains bullish but steady, suggesting further gains are Kumar Jain suggested the following ranges for gold and silver on MCX: ADVERTISEMENT Gold has support at Rs 99,100-98,670 and resistance at Rs 99,900-1,00,350 Silver has support at Rs 1,07,750-1,07,000 and resistance at Rs 1,09,200-1,10,000 Jain suggests buying gold on dips around Rs 99,000 with a stop loss of Rs 98,570 for a target of Rs 99, trading strategy by Neha Qureshi: Buy MCX August Gold futures at Rs 99,500 with a stop loss of Rs 99,200 and a price target of Rs 1,00,000 Buy MCX July Silver futures at Rs 1,08,000 with a stop loss of Rs 1,06,000 and a price target of Rs 1,11,000 Gold Price today in DelhiStandard gold (22 carat) prices in Delhi stand at Rs 57,832/8 grams while pure gold (24 carat) prices stand at Rs 61,608/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,576/8 grams while pure gold (24 carat) prices stand at Rs 61,392/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,760/8 grams while pure gold (24 carat) prices stand at Rs 60,472/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 57,080/8 grams while pure gold (24 carat) prices stand at Rs 60,880/8 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)
Economic Times
a day ago
- Business
- Economic Times
Gold prices steady ahead of FOMC meet; silver hits all-time high of Rs 1,09,630/kg. What's next?
After a highly volatile session, gold August futures contracts at MCX opened flat at Rs 99,611/10 grams, rising Rs 70 or 0.07%, while the silver July futures contracts traded slightly higher by Rs 604 or 0.55% to hit their fresh all-time high of Rs 1,09,630/kg. ADVERTISEMENT On Tuesday, gold and silver settled on a positive note in the domestic market, while settling on a mixed note in the international markets. Gold August futures contract settled at Rs 99,541 per 10 grams with a gain of 0.37% and silver July futures contract settled at Rs 1,08,995 per kilogram, rising2.28%. Due to weakness in the rupee, domestic markets settled on a positive note. Gold and silver showed very high price volatility, settling on a mixed note in the international markets amid geopolitical tensions and ahead of the FOMC meeting outcomes. Escalation in the Israel-Iran war supported safe-haven buying for precious metals, but downbeat U.S. retail sales and core retail sales data limit gains. Chinese consumer demand for gold also cooled off in May and limited the gains. 'Gold extended its fall at Comex divisions but silver prices extended their gains and prices crossed $37 per troy ounce levels for the first time since February 2012,' noted Manoj Kumar Jain of Prithvifinmart Commodity Research. He added that weakness in the rupee is supporting gold and silver prices in the domestic markets. Today, the US Dollar Index, DXY, was hovering near the 98.66 mark, falling 0.16 or 0.16%. ADVERTISEMENT 'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and Fed monetary policy meetings but gold prices could hold its key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' he Gold's movement remains erratic, silver has shown steadier performance, making it a more attractive option in the short term. ADVERTISEMENT 'All eyes now turn to the Fed meeting outcome tonight, with a particular focus on the Dot Plot projections for clearer guidance on market trends,' said Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies. Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: ADVERTISEMENT Gold has support at Rs 99,100-98,650 and resistance at Rs 99,850-1,00,200 Silver has support at Rs 1,08,000-1,07,200 and resistance at Rs 1,09,750-1,10,600 Jain suggests buying silver on dips around Rs 1,08,000 with a stop loss of Rs 1,07,200 for a target of Rs 1,10,000. Buy MCX August Gold futures at Rs 99,500 with a stop loss of Rs 99,200 and a target of Rs 1,00,000 Buy MCX July Silver futures at Rs 1,09,000 with a stop loss of Rs 1,07,000 and a target of Rs 1,12,000. Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 58,320/8 grams while pure gold (24 carat) prices stand at Rs 62,192/8 grams. ADVERTISEMENT Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,256/8 grams while pure gold (24 carat) prices stand at Rs 61,064/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,864/8 grams while pure gold (24 carat) prices stand at Rs 60,632/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 57,184/8 grams while pure gold (24 carat) prices stand at Rs 60,984/8 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
2 days ago
- Business
- Time of India
Gold prices steady ahead of FOMC meet; silver hits all-time high of Rs 1,09,630/kg. What's next?
Live Events How to trade gold? Gold has support at Rs 99,100-98,650 and resistance at Rs 99,850-1,00,200 Silver has support at Rs 1,08,000-1,07,200 and resistance at Rs 1,09,750-1,10,600 Intraday Trading Strategy by Neha Qureshi: Buy MCX August Gold futures at Rs 99,500 with a stop loss of Rs 99,200 and a target of Rs 1,00,000 Buy MCX July Silver futures at Rs 1,09,000 with a stop loss of Rs 1,07,000 and a target of Rs 1,12,000. Gold rates in physical markets (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel After a highly volatile session, gold August futures contracts at MCX opened flat at Rs 99,611/10 grams, rising Rs 70 or 0.07%, while the silver July futures contracts traded slightly higher by Rs 604 or 0.55% to hit their fresh all-time high of Rs 1,09,630/ Tuesday, gold and silver settled on a positive note in the domestic market, while settling on a mixed note in the international markets. Gold August futures contract settled at Rs 99,541 per 10 grams with a gain of 0.37% and silver July futures contract settled at Rs 1,08,995 per kilogram, rising2.28%.Due to weakness in the rupee, domestic markets settled on a positive note. Gold and silver showed very high price volatility , settling on a mixed note in the international markets amid geopolitical tensions and ahead of the FOMC meeting in the Israel-Iran war supported safe-haven buying for precious metals, but downbeat U.S. retail sales and core retail sales data limit gains. Chinese consumer demand for gold also cooled off in May and limited the gains.'Gold extended its fall at Comex divisions but silver prices extended their gains and prices crossed $37 per troy ounce levels for the first time since February 2012,' noted Manoj Kumar Jain of Prithvifinmart Commodity added that weakness in the rupee is supporting gold and silver prices in the domestic markets. Today, the US Dollar Index, DXY, was hovering near the 98.66 mark, falling 0.16 or 0.16%.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and Fed monetary policy meetings but gold prices could hold its key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' he Gold's movement remains erratic, silver has shown steadier performance, making it a more attractive option in the short term.'All eyes now turn to the Fed meeting outcome tonight, with a particular focus on the Dot Plot projections for clearer guidance on market trends,' said Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,08,000 with a stop loss of Rs 1,07,200 for a target of Rs 1,10, gold (22 carat) prices in Delhi stand at Rs 58,320/8 grams while pure gold (24 carat) prices stand at Rs 62,192/8 gold (22 carat) prices in Mumbai stand at Rs 57,256/8 grams while pure gold (24 carat) prices stand at Rs 61,064/8 gold (22 carat) prices in Chennai stand at Rs 56,864/8 grams while pure gold (24 carat) prices stand at Rs 60,632/8 gold (22 carat) prices in Hyderabad stand at Rs 57,184/8 grams while pure gold (24 carat) prices stand at Rs 60,984/8 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
2 days ago
- Business
- Economic Times
Gold Price Prediction: Yellow metal down by Rs 2,100 per 10 grams from highs. What analysts expect?
Retreating from their higher levels, Gold August futures contracts at MCX opened lower by Rs 238 or 0.24% at Rs 98,940/10 g, representing an overall fall of Rs 2,138 from its all-time high of Rs 1,01,078/10g. ADVERTISEMENT Meanwhile, silver July futures contracts have consolidated above the Rs 1 lakh mark and opened slightly lower by Rs 164 or 0.15% at Rs 1,06,400/kg. On Monday, gold and silver settled on a mixed note in the domestic and international markets. Gold August futures contract settled at Rs 99,178 per 10 grams with a loss of 1.09% while silver July futures contract settled at Rs 1,06,564 per kilogram with a gain of 0.07%. Gold and silver showed very high price volatility in the international markets amid the escalation of the Israel-Iran war. Both countries are aggressively making air strikes on each other, and tensions have increased in the Middle East the U.S. President said on Monday to end of war between Israel and Iran soon, and after his statements, precious metals reacted negatively.'Gold declined on Monday, retreating from an eight-week high as traders locked in profits. Spot gold dropped 1.2% to $3,392.86 an ounce after earlier reaching its highest level since April 22. U.S. gold futures closed 1% lower at $3,417.30,' noted Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies. ADVERTISEMENT The decline follows a 1% rally on Friday, driven by heightened geopolitical tensions between Israel and Iran and anticipation of the Federal Reserve's policy meeting, where rates are expected to remain unchanged, she noted.'Gold shows profit taking from higher levels, and silver prices are also off day's high. Traders also booked profits in long positions of gold ahead of the Fed monetary policy meetings,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. ADVERTISEMENT Global uncertainty and geopolitical tensions could support the prices of precious metals. Today, the US Dollar Index, DXY, was hovering near the 98.18 mark, gaining 0.18 or 0.18%. ADVERTISEMENT 'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and Fed monetary policy meetings but gold prices could hold its key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis.,' he added. ADVERTISEMENT Gold has support at Rs 98,550-97,700 and resistance at Rs 99,800-1,00,400 Silver has support at Rs 1,05,800-1,05,000 and resistance at Rs 1,07,200-1,08,000 Jain suggests buying silver on dips around Rs 1,05,800 with a stop loss of Rs 1,04,750 for the target of Neha Qureshi noted that gold maintains a bullish outlook as the 14-day RSI rises above 57.50. A break above $3,440 could target $3,453 and possibly the record high of $3,500. On the downside, support is at $3,377 (23.6% Fibonacci level), with further support at the 21-day SMA near $3,341 if $3,350 maintains a bullish outlook as the 14-day RSI rises above 57.50. A break above $3,440 could target $3,453 and possibly the record high of $3,500. On the downside, support is at $3,377 (23.6% Fibonacci level), with further support at the 21-day SMA near $3,341 if $3,350 fails. Buy MCX August Gold futures at Rs 99,000 with a stop loss of Rs 98,700 and a price target of Rs 99,700 Buy MCX July silver futures at Rs 1,06,000 with a stop loss of Rs 1,05,000 and a price target of Rs 1,08,000. Standard gold (22 carat) prices in Delhi stand at Rs 57,952/8 grams while pure gold (24 carat) prices stand at Rs 61,760/8 gold (22 carat) prices in Mumbai stand at Rs 57,048/8 grams while pure gold (24 carat) prices stand at Rs 60,752/8 gold (22 carat) prices in Chennai stand at Rs 56,960/8 grams while pure gold (24 carat) prices stand at Rs 60,744/8 gold (22 carat) prices in Hyderabad stand at Rs 56,960/8 grams while pure gold (24 carat) prices stand at Rs 60,776/8 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)
