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The Print
2 hours ago
- Business
- The Print
Silver soars Rs 1,000 to hit fresh peak of Rs 1.08 lakh/kg; gold falls Rs 280/10 g
Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. On Saturday, the metal traded flat at Rs 1,07,100 per kg (inclusive of all taxes). Prior to that, the white metal on Friday had soared Rs 3,000 to hit another record high of Rs 1,07,100 per kilogram. New Delhi, Jun 9 (PTI) Silver prices soared Rs 1,000 to hit a fresh peak of Rs 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association. Gold of 99.9 per cent purity fell Rs 280 to Rs 97,780 per 10 grams (inclusive of all taxes) on Monday. The precious metal had declined by Rs 1,630 to Rs 98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped Rs 250 to Rs 97,350 per 10 grams (inclusive of all taxes). It had depreciated by Rs 1,500 to Rs 97,600 per 10 grams in the previous market close. Globally, spot gold rose marginally to USD 3,312.84 per ounce. 'Gold consolidated in the lower end of its range on Monday amid mixed signals. The highly anticipated talks between the US and China have raised hopes that the two largest economies can make progress on various disputes, which could reduce demand for safe havens'. 'Additionally, the latest Nonfarm Payrolls report in the US was strong, prompting traders to re-evaluate their expectations regarding a potential easing of monetary policy by the Federal Reserve, which also serves as a headwind for the yellow metal,' Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Spot silver rose 0.9 per cent to USD 36.30 per ounce in the international market. 'Silver prices stood out with strong gains hitting a 13-year high on the global stage and achieving lifetime highs in the domestic markets,' Mehta Equities' Vice-President, Commodities Rahul Kalantri said. 'Improving sentiment from softer European inflation and trade optimism helped silver breach the USD 36 per ounce level, breaking out of a long-standing consolidation range,' Kalantri added. PTI HG HG BAL BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Mint
17 hours ago
- Business
- Mint
Silver price today: Precious metal hits new all-time high of ₹1.07 lakh per kilo; gold trades flat on MCX
New Delhi, Jun 9 (PTI) Silver prices soared ₹ 1,000 to hit a fresh peak of ₹ 1,08,100 per kilogram in the national capital on Monday, in line with firm global cues, according to the All India Sarafa Association. On Saturday, the metal traded flat at ₹ 1,07,100 per kg (inclusive of all taxes). Prior to that, the white metal on Friday had soared ₹ 3,000 to hit another record high of ₹ 1,07,100 per kilogram. Traders said silver prices surged due to strong investor demand, a weak dollar against major currencies, heightened geopolitical tensions, and firm industrial demand from the EV and solar sectors. Gold of 99.9 per cent purity fell ₹ 280 to ₹ 97,780 per 10 grams (inclusive of all taxes) on Monday. The precious metal had declined by ₹ 1,630 to ₹ 98,060 per 10 grams on Saturday. The yellow metal of 99.5 per cent purity dipped ₹ 250 to ₹ 97,350 per 10 grams (inclusive of all taxes). It had depreciated by ₹ 1,500 to ₹ 97,600 per 10 grams in the previous market close. Globally, spot gold rose marginally to USD 3,312.84 per ounce. "Gold consolidated in the lower end of its range on Monday amid mixed signals. The highly anticipated talks between the US and China have raised hopes that the two largest economies can make progress on various disputes, which could reduce demand for safe havens". "Additionally, the latest Nonfarm Payrolls report in the US was strong, prompting traders to re-evaluate their expectations regarding a potential easing of monetary policy by the Federal Reserve, which also serves as a headwind for the yellow metal," Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said. Spot silver rose 0.9 per cent to USD 36.30 per ounce in the international market. "Silver prices stood out with strong gains hitting a 13-year high on the global stage and achieving lifetime highs in the domestic markets," Mehta Equities' Vice-President, Commodities Rahul Kalantri said. "Improving sentiment from softer European inflation and trade optimism helped silver breach the USD 36 per ounce level, breaking out of a long-standing consolidation range," Kalantri added.
The Print
4 days ago
- Business
- The Print
Silver continues record run for 2nd day, hits fresh peak of Rs 1.07 lakh/kg
So far this year, the metal prices have jumped Rs 17,400 per kg, or 19.4 per cent, since December 31 last year. According to the All India Sarafa Association, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets on Thursday. New Delhi, Jun 6 (PTI) Silver prices soared Rs 3,000 to hit another record high of Rs 1,07,100 per kilogram in the national capital on Friday amid buying rush by local jewellers and stockists. As per the Association, the precious metal of 99.9 and 99.5 per cent purity traded flat at Rs 99,690 and 99,100 per 10 grams (inclusive of all taxes) on Friday. Traders said silver prices saw an uptrend due to a rise in domestic demand as well as global influences. The most-traded July contract for silver increased Rs 1,622 to hit a fresh peak of Rs 1,06,065 per kg. Also, the contracts for September delivery climbed Rs 1,650 to hit a lifetime high of Rs 1,07,130 per kg on the Multi Commodity Exchange (MCX). Gold contracts for August delivery fell Rs 44 to Rs 97,830 per 10 grams on the MCX. In the overseas markets, spot gold rose 0.22 per cent to trade at USD 3,360.05 per ounce. According to Kotak Securities' AVP-Commodity Research Kaynat Chainwala, gold is trading firm as investors remain cautious ahead of the US Nonfarm Payrolls data to be released later in the day. Spot silver rose 1.63 per cent to USD 36.23 per ounce in the global markets. Brokerage firm Kotak Securities said silver surged hitting a 13-year high amid improving supply-demand fundamentals, and growing investor interest. PTI HG TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
6 days ago
- Business
- Time of India
Gold price prediction today: Why gold rate may remain volatile this week & should you sell or buy?
Gold price prediction: This week will remain volatile and set tone in terms of new direction in prices. (AI image) Gold price prediction today: Gold prices ended the last week down and also continued to consolidate during the entire May month below record highs touched in April. Meanwhile, spikes seen in prices in recent sessions were only on account of geopolitical developments involving Russia & Ukraine as Ukraine carried out its biggest strike on record hitting almost $7bn worth of Russian military planes. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: The yellow metal jumped almost 2% yesterday while Silver prices were boosted by 5 % due to augmented safe haven flows. On the global trade front, US President Donald Trump lashed out at China over the weekend and accused the latter of violating a preliminary tariff agreement, reviving fears of a trade war between the world's two largest economies. Trump also announced to double tariffs on steel imports from 25 % to 50 % while reportedly urging countries to present the most favourable trade by Wednesday in an effort to speed up discussions before reciprocal tariffs come into effect on July 8. This also kept the dollar upside limited, keeping it below 100 since last week. Bullion prices remained also up following Federal Reserve (Fed) Governor Christopher Waller's slightly dovish approach, saying that rate cuts remain possible later this year. However, he warned that policymakers are mainly focused on controlling inflation. Gold Price Outlook This week to remain volatile and set tone in terms of new direction in prices Overall bias for bullion still suggests limited upside for the current week as June tends to be the weakest season of the year for Gold Miners & stocks in terms of seasonal approach, leaving waning interest in markets. Meanwhile volatility could also remain high as US Fed members continue to stick to easing bias but rate cut probabilities stay delayed only after September month. Adding to these concerns, any further escalation in Russia Ukraine conflict, with any retaliatory response from Russia warrants caution for the USD bulls and may lead to volatility in bullion prices. Traders also look forward to the release of several macro cues including US JOLTS Job Openings along with speeches by influential FOMC members. The major focus, however, will remain on the US monthly employment details, or the Nonfarm Payrolls (NFP) report due on Friday amid steady payrolls may confirm delayed rate cut for the year. Gold Price Weekly View: Highly Volatile (Duration 1 – 2 weeks) Strategy: We expect limited upside in Gold for the coming week as any volatile spike towards $3420 - 3450 per oz in Spot (CMP $3358 per oz) remains a selling opportunity on a weekly basis. On MCX Aug futures (CMP Rs. 97,785 per 10 gm) prices could trade in a broad range of Rs. 99,850 – 93,980 per 10 gm for a duration of 10 – 15 trading days. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs, 98,700 – 1,03,500 per Kg. (CMP Rs. 1,00,630 per Kg.) in July futures contract. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
03-05-2025
- Business
- Economic Times
Gold price forecast: Can gold break above $3,268 and surge toward $3,300 amid Fed rate decision and 177K jobs boost? Can it finally push past $3,500? Here's what you need to know
Why is gold struggling despite rising global uncertainty? What key data is expected to shake up gold prices next week? Live Events May 6: ISM Services PMI (Forecast: 50.2, Previous: 50.8) May 7: Fed Funds Rate decision (Expected: 4.50%, no change) May 7: FOMC statement and Fed Chair Jerome Powell's press conference May 8: Weekly unemployment claims (Forecast: 232,000, Prior: 241,000) May 9: Speech from FOMC member Christopher Waller Could a breakout above $3,268 trigger a gold rally? What's the trade setup for gold this week? Entry Point: Confirmed breakout and close above $3,268 Targets: First at $3,275, then $3,295 Stop Loss: Just below $3,231 Will gold finally push past the $3,500 ceiling? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Gold prices ended the week around $3,241, but all eyes are now locked on the critical $3,268 breakout level, as investors brace for a heavy week of U.S. economic data and the Federal Reserve's rate decision. While gold has been under pressure lately due to stronger-than-expected job numbers and improved U.S.-China trade sentiment, the coming days could bring new volatility—and potentially open the door for another gold week, gold slipped slightly as a solid U.S. jobs report and signs of easing trade tensions took the shine off the precious metal. According to the latest Nonfarm Payrolls (NFP) data, the U.S. added 177,000 jobs in April, beating forecasts of 130,000. That surprise gain pushed Treasury yields higher and dampened hopes for a near-term interest rate gold doesn't offer any yield, rising bond yields often make it less attractive. This time was no different. Traders immediately scaled back bets on a June rate cut, and that shift pressured gold prices even strategist Daniel Pavilonis highlighted that optimism around U.S.-China trade talks is also weighing on gold. On Friday, China's Commerce Ministry signaled willingness to negotiate on tariffs—a move that boosted risk-on sentiment and capped gold below the $3,500 week is packed with market-moving U.S. macro data, and gold traders are on high alert. Here's the full lineup:While no rate hike or cut is expected, Powell's tone during the press conference will be key. If he signals any hint of dovishness—or even acknowledges economic softening—gold could get a fresh lift. Otherwise, hawkish signals may keep gold bulls on the speaking, gold (XAU/USD) is caught in a tight zone, trading just under the $3,268 resistance. That level marks a descending trendline as well as the 50-period EMA—both key indicators for short-term price gold can break and hold above $3,268, analysts suggest it could unlock further upside targets around $3,275 and $3,295. But caution is warranted—traders should wait for confirmation before jumping in, especially with volatility likely to rise after upcoming economic the downside, support sits at $3,231, followed by $3,204. While the MACD indicator remains bearish, there are signs it's beginning to stabilize, hinting that momentum could shift a simplified breakdown of the gold trade strategy many are watching:If the Fed or ISM data surprise to the downside, gold could benefit as rate cut hopes revive. On the flip side, strong data could push Treasury yields even higher and pressure gold traders should resist the temptation to chase early breakouts. With so many events lined up, waiting for pullbacks after volatility spikes might offer safer now, $3,500 remains a ceiling for gold, and that's largely due to the rebound in market risk appetite. The shift comes as geopolitical risks ease and economic indicators surprise to the we see major dovish signals from the Fed, or weaker-than-expected economic data, gold may struggle to break that upper level in the short term. But if macro conditions shift—even slightly—the $3,268 breakout could be the trigger for a fresh gold then, gold remains at a crossroads—caught between strong U.S. fundamentals, cooling inflation, and cautious central bank messaging.A1: Gold needs to break and hold abovefor a potential rally.A2: A dovish Fed tone could boostby reviving rate cut hopes.
