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Time of India
6 days ago
- Business
- Time of India
Gold prices slip from 5-week high to trade below Rs 1 lakh on US-Japan trade deal. More downside in sight?
Gold and silver settled on a weaker note in the domestic and international markets in the previous session. Gold prices slipped below the Rs 1 lakh mark as August MCX futures fell amid easing safe-haven demand following the US-Japan trade deal. Silver also edged lower. Analysts expect continued volatility, though key support levels may hold amid global uncertainty and upcoming central bank policy decisions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Gold has support at Rs 99,000-98,500 and resistance at Rs 99,850-1,00,100 Silver has support at Rs 1,14,750-1,14,000 and resistance at Rs 1,16,600-1,18,000 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Tired of too many ads? Remove Ads Gold Price today in Chennai Gold Price today in Hyderabad Slipping from their 5-week high and below the Rs 1 lakh mark, gold August futures contracts on MCX were trading at Rs 98,944/10 grams, down by Rs 473 or 0.48% as safe haven buying witnessed a drop amid the US-Japan trade deal silver September futures contracts were also trading slightly lower by Rs 288 or 0.25% at Rs 1,15,346/ Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Gold August futures contract settled at Rs 99,417 per 10 grams with a loss of 0.91% and silver September futures contract settled at Rs 1,15,634 per kilogram with a loss of 0.02%.Gold and silver showed very high price volatility and gained in the early trading session, but slipped from their highs amid easing safe-haven buying after the US-Japan trade agreement. The U.S. and Japan have entered into a trade agreement in which the U.S. reduced import tariffs on Japanese goods from a hefty 25% to 15%.'Bullion markets reacted negatively to that, and the market is also expecting that the U.S. could also settle trade disputes with other nations prior to the deadline on 1st August,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Gold prices slipped from 5-week highs, and silver prices also plunged from nearly 14-year highs. However, a weak dollar index and dovish comments from the FOMC members are supporting precious US Dollar Index, DXY, was hovering near the 97.26 mark, gaining 0.04 or 0.04% on Thursday.'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets and ahead of the ECB monetary policy meetings, but 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 Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,15,000-1,14,400 with a stop loss of Rs 1,13,300 for a target of Rs 1,16,200-1,17, gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,032/8 gold (22 carat) prices in Mumbai stand at Rs 57,504/8 grams while pure gold (24 carat) prices stand at Rs 61,312/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,680/8 gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,664/8 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
6 days ago
- Business
- Economic Times
Gold prices slip from 5-week high to trade below Rs 1 lakh on US-Japan trade deal. More downside in sight?
Live Events How to trade gold? Gold has support at Rs 99,000-98,500 and resistance at Rs 99,850-1,00,100 Silver has support at Rs 1,14,750-1,14,000 and resistance at Rs 1,16,600-1,18,000 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 Slipping from their 5-week high and below the Rs 1 lakh mark, gold August futures contracts on MCX were trading at Rs 98,944/10 grams, down by Rs 473 or 0.48% as safe haven buying witnessed a drop amid the US-Japan trade deal silver September futures contracts were also trading slightly lower by Rs 288 or 0.25% at Rs 1,15,346/ Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Gold August futures contract settled at Rs 99,417 per 10 grams with a loss of 0.91% and silver September futures contract settled at Rs 1,15,634 per kilogram with a loss of 0.02%.Gold and silver showed very high price volatility and gained in the early trading session, but slipped from their highs amid easing safe-haven buying after the US-Japan trade agreement. The U.S. and Japan have entered into a trade agreement in which the U.S. reduced import tariffs on Japanese goods from a hefty 25% to 15%.'Bullion markets reacted negatively to that, and the market is also expecting that the U.S. could also settle trade disputes with other nations prior to the deadline on 1st August,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Gold prices slipped from 5-week highs, and silver prices also plunged from nearly 14-year highs. However, a weak dollar index and dovish comments from the FOMC members are supporting precious US Dollar Index, DXY, was hovering near the 97.26 mark, gaining 0.04 or 0.04% on Thursday.'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets and ahead of the ECB monetary policy meetings, but 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 Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,15,000-1,14,400 with a stop loss of Rs 1,13,300 for a target of Rs 1,16,200-1,17, gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,032/8 gold (22 carat) prices in Mumbai stand at Rs 57,504/8 grams while pure gold (24 carat) prices stand at Rs 61,312/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,680/8 gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,664/8 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
16-07-2025
- 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)
Time of India
11-07-2025
- Business
- Time of India
Silver hits record Rs 1.11 lakh/kg in India: What's fueling the rush to safe haven?
Silver prices in India surged to an all-time high on Friday, breaching Rs 1.11 lakh per kilogram in the spot market as traders ramped up safe-haven buying amid mounting global trade tensions and rising expectations of a dovish tilt from the U.S. Federal Reserve. On the Multi Commodity Exchange (MCX), silver futures crossed Rs 1.10 lakh per kilogram in early trade, while in the physical spot market, silver traded at Rs 111 per gram, or Rs 1,11,000 per kilogram, the highest ever recorded in India. The rally followed a second straight session of gains for precious metals globally, with spot silver rising 0.4% to $37.19 per ounce in international markets, per Reuters. The surge in the grey metal prices comes on the heels of escalating trade uncertainty after U.S. President Donald Trump announced sweeping tariffs. 'Gold and silver prices rose on Thursday, marking a second consecutive session of gains as investors sought safety amid mounting trade tensions and fresh policy risks,' said Rahul Kalantri, Vice President, Commodities at Mehta Equities. Trump unveiled a steep 35% tariff on Canadian imports effective August 1, and signaled new blanket tariffs of 15–20% on most other trading partners. 'Trump's push for a massive 300 basis-point Fed rate cut fueled speculation of a dovish central bank shift, raising concerns about future inflation,' Kalantri said. Live Events On Thursday, silver September futures on the MCX settled at Rs 1,09,123 per kilogram, up 1.73%. Gold August futures also gained 0.24%, closing at Rs 96,691 per 10 grams. 'Gold and silver gained amid the U.S. President's uncertain trade policies, which increased uncertainty in the global financial markets,' the research desk at Prithvifinmart Commodity Research said, adding that safe-haven flows had intensified. Trump's statements about imposing 50% tariffs on copper imports and Brazil, as well as an additional 10% levy on BRICS nations, have further dented sentiment. Silver also breached a key resistance level of $37 per troy ounce in the international markets. 'Silver has support at $36.85-36.60 while resistance is at $37.40-37.55,' Kalantri noted. In rupee terms, silver faces resistance at Rs 1,09,950–1,10,700, levels it decisively broke through on Friday. 'Trump's tariff uncertainty and weakness in the global equity markets could continue to push precious metals up,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Jain expects continued volatility in bullion due to fluctuations in the dollar index and trade policy risks. 'We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index and U.S. trade tariff uncertainty but gold prices could hold its 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 said. As global investors react to a rapidly shifting macro environment, silver's status as a hedge against both inflation and geopolitical risk appears firmly in play, propelling the metal to historic highs on Indian soil. ( 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
11-07-2025
- Business
- Time of India
Gold price inches higher by Rs 600 per 10 gram amid safe haven buying. Analysts predict more upside
Safe haven buying pushed precious metals higher in early trade as Gold August futures contracts at MCX opened higher by Rs 558 or 0.58 % at Rs 97,249/10 g as the U.S. President Donald Trump's uncertain trade policies increased uncertainty in the markets. Meanwhile, silver September futures contracts also opened significantly higher at Rs 1,10,411/kg, up by Rs 1,288 or 1.18%. On Thursday, gold and silver settled on a positive note in the domestic and international markets. Gold August futures contract settled at Rs 96,691 per 10 grams with a gain of 0.24% and silver September futures contract settled at Rs 1,09,123 per kilogram with a gain of 1.73%. Gold and silver gained amid the U.S. President's uncertain trade policies, which increased uncertainty in the global financial markets. Trump's statement of imposing 50% traded tariffs on copper imports and imposing 50% tariffs on Brazil and 10% additional tariffs on BRICS nations hurt market sentiments and supported safe-haven buying for precious metals. Gold prices hold their support level of $3,280 per troy ounce and rebound again. Silver also surpasses its resistance level of $37 per troy ounce in the international markets. 'Trump's tariff uncertainty and weakness in the global equity markets could continue to push precious metals up,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. However, the dollar index and the U.S. bond yield also rebound and could limit gains of precious metals. Today, the US Dollar Index, DXY, was hovering near the 97.84 mark, gaining 0.18 or 0.19%. 'We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index and U.S. trade tariff uncertainty but gold prices could hold its 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 96,300-96,000 and resistance at Rs 97,000-97,440 Silver has support at Rs 1,08,000-1,07,200 and resistance at Rs 1,10,200-1,11,000 Jain suggests buying gold above Rs 96,600 with a stop loss of Rs 96,280 for a target of Rs 97,200. He further suggests buying silver around Rs 1,09,000 with a stop loss of Rs 1,08,200 for a target of Rs 1,11,000. Also read: 3 Nifty50 stocks in 100x PE club: Are sky-high valuations the new reality? Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 57,176/8 grams while pure gold (24 carat) prices stand at Rs 60,944/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,520/8 grams while pure gold (24 carat) prices stand at Rs 61,288/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,976/8 grams while pure gold (24 carat) prices stand at Rs 60,680/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 57,120/8 grams while pure gold (24 carat) prices stand at Rs 60,848/8 grams. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
