Gold rate today: Gold prices dipped by Rs 6,500 per 10 grams of peak; MCX Gold June Futures at around 92,975/10 grams

Gold Rate Today: With low geopolitical stresses, there has been a significant decline in demand for safe-henn, causing MCX Gold June Futures to fall to Rs 92,975/10 grams. It represents a sufficient reduction of about 6,500 rupees from the peak of 99,358/10 grams of 22 April.Silver July contracts performed flexibility, about 1% more trading at Rs 96,287/kg, saw an increase of Rs 943 around 10 pm.The previous day saw weakness in both domestic and international markets. Gold June Futures declined by Rs 92,901 per 10 grams, declined by 3.75%, while the silver futures fell by 1.43%to Rs 95,344 per kg.The ET report stated that the prices of precious metals occurred amidst several factors, including the US-China trade agreement, the Indo-Pak ceasefire, strengthening the dollar index and increasing the US bond yield, the ET report said.After the US-China trade talks in Switzerland, there was a significant sale as the week started. The agreement included adequate tariff cuts for both countries for more than 90 days, increasing the confidence of the global market.The announcement of the trade deal strengthened the dollar index and US bond yield. The US Dollar Index (DXY) was seen near 101.60, which showed a decrease of 0.19 or 0.19%.Manoj Kumar Jain of Prithvifinmart Commodity Research said: “In the weekend, the Indo-Pak struggle also declined to buy safe-heaven for precious metals. Gold prices also slipped in one month climb and silver prices and silver prices also fell amidst big risk in global markets.”He further mentioned: “Global equity markets showed concrete strength and also reduced the prices of gold and silver. We hope that gold and silver prices will remain unstable this week amidst dollar index and instability in geopolitical stress; Gold prices will remain unstable; Gold prices will remain $ 3,140 per troy ounces, and can also catch their major support levels of $ 3,140 per troy, and silver prices can also be $ 31.40 per francity.”Manoj Kumar Jain offers major trade levels for precious metals on MCX:For gold, the level of significant support is deployed for Rs 92,400-91,770, while the resistance level is set up for Rs 93,360–94,000. For silver, support levels are identified for Rs 94,400-93,650, with resistance points of Rs 96,000-96,650.Based on the current market analysis, Jain advised investors to consider the purchase of silver during the fall in the price, advising the investors to recommend a temporary stagnation in gold business activities.(Disclaimer: Recommendations and views on stock markets and other asset classes given by experts are their own. These opinions do not represent the views of Times of India)