Gold Rate Today: Yellow Metal Down 6,700 per 10 grams of peak – What is the price trend on May 2, 2025?
Gold rate today on May 2, 2025: In the last few days, Gold June futures in MCX have seen a lot of sales pressure from peak levels, the US-China business talks have fallen by Rs 6,700/10 grams due to positive growth and strengthening of the dollar.
Today, Gold June Futures started doing 0.35% more business at Rs 92,665 per 10 grams, with an increase of Rs 326, while the silver July futures rose by 0.46% to Rs 95,168 per kg, which increased by Rs 439.
On the previous day, the closing of gold and silver was less seen in both domestic and international markets. Gold June Futures settled at Rs 92,339 per 10 grams, declined by 2.50%, while silver futures fell by 1.24%to Rs 94,729 per kg.
The prices of precious metals experienced a sharp improvement after the statements of US President Donald Trump about the ongoing discussions with China, as well as the statements of possible trade agreements with India, South Korea and Japan.
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The dollar index strengthened after these comments, crossing 100 levels. The US dollar was trading around the index, DXY, around 100.02, showing a decrease of 0.23 or 0.23% today.
“Gold prices slipped 2-week climbing and silver prices and silver prices also tested $ 32 per troy ounce levels. The traders also booked a profit on their long positions before the US monthly job report,” According to an ET report, Manoj Kumar Jain said Prithvifinmart Commodity Research.
The US GDP showed contraction in the last quarter, in which unemployment claims were re -growing, potentially causing a situation for a decrease in US Fed rate and supported the prices of precious metals at the lower level.
“We hope that gold and silver prices will remain unstable in today’s session amidst the volatility in the dollar index and ahead of American job figures; gold prices can hold the support level of $ 3,200 per troy ounces and silver prices can also have a $ 31.40 per troy ounce level based on weekly closing,” Jain said.
