Gold Rate Today: In MCX, Gold June Futures Contracts opened at Rs 93,271/10 g, with an increase of Rs 0.68% or Rs 634. Meanwhile, the Silver July Futures Contracts launched a stable trade at Rs 94,145/kg, which reflects a slight increase of Rs 81 or 0.09%.
Gold prices have declined due to a fall of Rs 2,754/10 g on MCX during last week. The US-China trade discussions and optimism surrounding the dollar index reduced both gold and silver values.
Mixed for gold and silver in domestic and international markets in the last trading day. Gold June Futures finalized at Rs 92,637 per 10 grams, received 0.32%, while the silver futures ended Rs 94,064 per kg, falling down by 0.70%.
Also read Gold price prediction: What is the gold rate outlook for May 5, 2025 weeks – should you buy or sell?
Last week, significant value fluctuations in gold and silver were observed, with profit-booking with dollar index recovery and positive growth in US-China business talks. Both precious metals reached 3 weeks of climb after the US President’s announcement about trade talks with India, Japan, South Korea and China.
The dollar index returned from several months of climb and reached 100 points after Trump’s comments, declining the prices of precious metals. Currently, the US Dollar is at 99.73, which shows a decrease of 0.30 or 0.30%.
“The US economic data released last week was mixed as non–form employment and benefited from taking advantage in both precious metals. However, in the first quarter, contraction in the US GDP and higher unemployed claims supported gold prices at lower levels,” Manoj Kumar Jain said Prithvifinmart Commodity Research.
According to Jain’s analysis, the dollar index variations and upcoming US Fed Monetary Policy meetings have been estimated this week in price in gold and silver. They suggest that gold may reach the support level of $ 3,180 per troy ounces, while the silver can touch $ 31.40 per troy ounces.
