MCX Gold, Silver Rate Today: The Gold and Silver rates continued their losing momentum, driven by rising inflation risk amid global geopolitical uncertainty due to the war in West Asia. In the domestic futures market, Silver tanked over Rs 10,000, while Gold dipped over Rs 2,500.
The Gold Futures contract, April 2 expiry, on Multi Commodity Exchange (MCX) fell Rs 2,500 to a low of Rs 1,36,684 per 10 grams as compared to last day's closing of Rs 1,39,260. Silver futures, May 5 expiry, plummeted over Rs 10,000 to a low of Rs 2,15,414 per kilogram in early trade against the previous session's closing of Rs 2,25,167 on MCX.
At the time of writing, MCX Gold was trading at Rs 1,37,471, down Rs 1,789 or 1.28 per cent. MCX Silver was quoted at Rs 2,17,244, down Rs 7,923 or 3.52 per cent. Earlier, on March 23, the MCX Gold fell by over Rs 10,000 during the day trading amid rising crude prices due to geopolitical risk. However, in the evening trade, it recovered some of its losses.
"MCX Gold opened with a gap-down but is holding above the Rs 1,36,000 level. Price action indicates a weak recovery within a broader bearish structure. Immediate resistance is placed at Rs 1,39,000–Rs 1,40,000. A breakout above this zone can trigger a move toward Rs 1,43,000–Rs 1,46,000. On the downside, Rs 1,34,000–Rs 1,35,000 acts as immediate support," said Ponmudi R, CEO of Enrich Money.
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Gold Rate in the International Market
The Gold and Silver prices continued the downward momentum in the international market as well. Last seen, COMEX Gold was trading at $4,338.70, down $68.60 or 1.56 per cent. COMEX Silver Dipped $2.24 or 3.24 per cent to $67.110. 24k, 22k Gold Rates In India. The Gold rates for all purity levels in the domestic retail market experienced a dip amid selling pressure in the futures market. The 24 karat gold rate today is Rs 1,38,200 per 10 grams, while the 22 karat gold rate today is Rs 1,26,683. The 20 karat gold rate today is Rs 1,15,167 per 10 grams. Meanwhile 18 karat gold rate today is Rs 1,03,650 per 10 grams.