Tag: Gold Price

  • MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    Gold futures on the Multi Commodity Exchange (MCX) traded lower on Tuesday, July 7, as investors awaited the release of the US Federal Reserve’s June policy meeting minutes for further clues on the central bank’s monetary policy trajectory. The August gold contract declined by 0.63% to settle at Rs. 1,45,990 per 10 grams.

    In the precious metals complex, September silver futures also witnessed a decline, falling 1.23% to Rs. 2,33,201 per kilogram. Meanwhile, in the energy market, Brent crude futures edged up 0.60% to $72.42 a barrel, while US West Texas Intermediate (WTI) crude advanced 0.51% to $68.90 a barrel.

    According to the CME FedWatch Tool, market participants now see a 56% probability of a rate hike at the Fed’s September meeting, down from the previous week’s reading of 60%.

    Domestic Gold Prices

    In the local physical market, 24-karat gold fell by Rs. 136 to Rs. 1,45,260 per 10 grams, while 22-karat gold declined by Rs. 125 to Rs. 1,33,150. Regional variations were observed: Mumbai and Kolkata quoted 24K gold at Rs. 1,45,260, Delhi at Rs. 1,45,410, and Chennai at Rs. 1,47,920.

    US Gold Prices

    US gold prices eased on Tuesday, trading below a two-week high, as investors adopted a cautious stance ahead of the Fed minutes. Spot gold fell 0.6% to $4,138.32 per ounce, and US gold futures for August delivery dipped 0.4% to $4,149.90.

    Among other precious metals, spot silver slipped 1% to $61.48 per ounce, platinum eased 0.1% to $1,629.46, while palladium posted a modest gain of 0.4% to $1,272.85.

    Key Levels to Watch

    “Gold price action looks like a continuation of last week’s basing, forming a support level. The market is clearly waiting for direction from the Fed minutes to get a better sense of the Fed’s thinking on short-term interest rate policy,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.

    Internationally, gold has support at $4,135 and $4,100 per troy ounce, with resistance at $4,194 and $4,220. Silver support stands at $61.20 and $59.80, while resistance is seen at $63.40 and $64.20. On MCX, gold support is at Rs. 1,46,100 and Rs. 1,45,500, resistance at Rs. 1,47,400 and Rs. 1,48,200. For silver MCX, support is at Rs. 2,33,300 and Rs. 2,30,000, with resistance at Rs. 2,38,800 and Rs. 2,41,000.

    Investors remain focused on the Fed minutes release scheduled later this week, which could provide clearer signals on the timing and pace of potential rate adjustments.

  • MCX Gold Dips to Rs 1,44,124 as Brent Crude Declines Over 1% – Key Support Levels in Focus

    MCX Gold Dips to Rs 1,44,124 as Brent Crude Declines Over 1% – Key Support Levels in Focus

    Gold traded lower on the Multi Commodity Exchange (MCX) on July 2 amid slightly positive global trends. August gold futures slipped 0.21% to Rs 1,44,124 per 10 grams, while September silver futures edged up 0.54% to Rs 2,231,630. Meanwhile, Brent crude futures fell 1.02% to $70.84 a barrel, and US West Texas Intermediate (WTI) declined 1.09% to $67.83 a barrel.

    According to the CME FedWatch Tool, traders now see a 64% probability of a rate hike by the US Federal Reserve in September, keeping pressure on precious metals.

    Domestic Gold Prices

    In the domestic market, 24K gold rose by Rs 377 to Rs 1,44,550 per 10 grams, while 22K gold advanced by Rs 345 to Rs 1,32,500. City-wise prices: Mumbai and Kolkata both quoted Rs 1,44,550, Delhi at Rs 1,44,700, and Chennai at Rs 1,46,180.

    US Gold Prices

    US gold prices rose on Thursday, supported by softer-than-expected jobs data and lower oil prices. Spot gold climbed 0.7% to $4,057.92 per ounce. US gold futures for August delivery inched 0.3% lower to $4,070.10. Spot silver rose 1.6% to $60.06 per ounce, platinum gained 2% to $1,607.67, and palladium added 1.4% to $1,227.13.

    Key Levels to Watch

    “The market’s cautious about being short down here because you’re seeing a couple of probes to the downside, which are quite rapidly being rejected,” said Nicholas Frappell, global head of institutional markets at ABC Refinery. “ADP data came in a little bit lower than the forecast, so that probably explains gold’s rally as some people think that the data will be reflected in non-farm payrolls.”

    Internationally, gold has support at $4,040 and $3,994, while resistance is at $4,122 and $4,164 per troy ounce. Silver has support at $58.80 and $57.40, with resistance at $61.60 and $63.20 per troy ounce.

    On MCX, gold has support at Rs 1,43,100 and Rs 1,42,000, and resistance at Rs 1,45,500 and Rs 1,46,650. Silver has support at Rs 2,26,600 and Rs 2,22,500, with resistance at Rs 2,34,400 and Rs 2,38,000.

    Also read: Bitcoin and Gold Face Unusual Decline as Investors Face New Market Pressures

  • MCX Gold Drops 0.76% to ₹1,41,444 as Strong Dollar and Rate-Hike Expectations Weigh; Brent Crude Edges Up 0.40%

    MCX Gold Drops 0.76% to ₹1,41,444 as Strong Dollar and Rate-Hike Expectations Weigh; Brent Crude Edges Up 0.40%

    Gold prices retreated on the Multi Commodity Exchange (MCX) on July 1, pressured by a stronger US dollar, rising Treasury yields, and growing expectations that the Federal Reserve will implement another interest rate hike in September. The precious metal’s decline reflects broader market uncertainty surrounding US monetary policy and global economic signals.

    August gold futures on MCX fell 0.76%, settling at ₹1,41,444 per 10 grams. July silver futures also slipped, declining 1.6% to ₹2,24,914 per kilogram. Meanwhile, Brent crude futures for August delivery edged up 0.40% to $73.24 a barrel, while US West Texas Intermediate (WTI) crude gained 0.40% to $69.78 a barrel.

    According to the CME FedWatch Tool, traders now assign a 67% probability to a rate hike by the US Federal Reserve in September, adding downward pressure on non-yielding assets like gold.

    Domestic Gold Prices

    In the Indian market, 24K gold declined by ₹126 to ₹1,40,780 per 10 grams, while 22K gold dropped by ₹115 to ₹1,29,050. Regional variations were minimal: Mumbai and Kolkata both quoted 24K gold at ₹1,40,780, Delhi at ₹1,40,930, and Chennai at ₹1,43,990.

    US Gold Prices

    In the international market, gold prices fell for a second session, hitting a seven-month low earlier this week. Spot gold was down 0.7% at $3,979.41 per ounce, while US gold futures for August delivery lost 1.1% to $3,992.70. The decline was fueled by lingering inflation concerns and uncertainty surrounding US-Iran peace talks, which continue to keep Fed rate hike expectations elevated.

    Spot silver declined 1.4% to $57.75 per ounce, platinum lost 0.6% to $1,542 (hitting its lowest since last November), and palladium edged 0.4% lower to $1,199.34.

    Key Levels to Watch

    “It looks like the pressure from higher yields is what’s getting gold lower. The US dollar is also a touch higher at the same time, which kind of confirms what’s going on,” said Ilya Spivak, Head of Global Macro at Tastylive.

    Internationally, gold has support at $3,994 and $3,955 per troy ounce, with resistance at $4,074 and $4,110. Silver support stands at $57.70 and $56, while resistance is at $61.20 and $62.80.

    On MCX, gold support levels are at ₹1,41,100 and ₹1,40,000, with resistance at ₹1,43,350 and ₹1,44,200. Silver on MCX has support at ₹2,25,500 and ₹2,22,000, while resistance lies at ₹2,31,000 and ₹2,34,400.

  • Gold Drops Over 1% on MCX as Strong Dollar and Fed Rate-Hike Expectations Pressure Bullion

    Gold Drops Over 1% on MCX as Strong Dollar and Fed Rate-Hike Expectations Pressure Bullion

    Gold prices on the Multi Commodity Exchange (MCX) fell sharply on June 30, undermined by a strengthening U.S. dollar and weak global cues, as traders priced in the likelihood of multiple Federal Reserve rate hikes this year. August gold futures declined by 1.16% to settle at Rs. 1,40,757 per 10 grams, while July silver futures slipped 0.55% to Rs. 2,18,200 per kilogram.

    The pressure on precious metals extended across global markets. Spot gold dropped 1.5% to $3,956.92 per ounce, putting it on track for its steepest monthly decline since October 2008—a fall of 12.7% in June alone, marking the fourth straight monthly retreat. U.S. gold futures for August delivery lost 1.7% to $3,969.30 per ounce. Spot silver slid 2% to $57.13 per ounce, platinum eased 1.1% to $1,557.21, and palladium edged down 0.4% to $1,208.17.

    According to the CME FedWatch Tool, traders now anticipate three rate hikes from the U.S. Federal Reserve this year, with a 64% probability of a move in September. The strong dollar and elevated interest rate expectations continue to weigh on gold, which offers no yield and competes with interest-bearing assets.

    “You have high inflation, high interest rate expectations, and a strong dollar, and that’s overriding all other bullish factors that are typically associated with a gold rally,” said Edward Meir, an analyst at Marex.

    In the domestic market, 24-karat gold fell by Rs. 180 to Rs. 1,40,130 per 10 grams, while 22-karat gold declined by Rs. 165 to Rs. 1,28,450. City-wise, Mumbai and Kolkata quoted Rs. 1,40,130, Delhi at Rs. 1,40,280, and Chennai at Rs. 1,45,080. Meanwhile, crude oil also trended lower, with Brent futures down 0.87% at $72.51 a barrel and West Texas Intermediate (WTI) dropping 0.62% to $70.31 a barrel.

    Key Levels to Watch

    On the international front, gold has support at $3,994 and $3,955 per troy ounce, with resistance at $4,074 and $4,110. Silver support is at $57 and $55.40, while resistance stands at $60 and $61.60 per troy ounce. On MCX, gold finds support at Rs. 1,41,100 and Rs. 1,40,000, with resistance at Rs. 1,43,600 and Rs. 1,44,800. Silver has support at Rs. 2,16,600 and Rs. 2,14,000, and resistance at Rs. 2,22,400 and Rs. 2,25,000.

  • Gold Prices Dip on MCX to ₹1,43,350 as Middle East Tensions Stoke Inflation Fears

    Gold Prices Dip on MCX to ₹1,43,350 as Middle East Tensions Stoke Inflation Fears

    Gold futures on the Multi Commodity Exchange (MCX) declined on June 24, 2026, amid renewed hostilities between the US and Iran that sent oil prices higher and reignited inflation concerns. The escalation is prompting traders to bet on tighter monetary policy from the US Federal Reserve.

    August gold futures on MCX fell 0.56% to ₹1,43,350 per 10 grams. July silver futures also slipped 0.7% to ₹2,19,863. In the international market, Brent crude futures edged down 0.67% to $72.47 a barrel, while US West Texas Intermediate (WTI) crude dropped 1.80% to $70.05 a barrel.

    According to the CME FedWatch Tool, traders now anticipate three rate hikes from the US Federal Reserve this year, with an 80% probability of a December hike.

    Domestic Gold Prices

    In the domestic spot market, 24K gold fell by ₹93 to ₹1,43,020 per 10 grams, and 22K gold dropped by ₹85 to ₹1,31,100. Regional variations were minimal: Mumbai and Kolkata both quoted ₹1,43,020, Delhi ₹1,43,170, and Chennai ₹1,45,090.

    US Gold Prices

    US gold prices also eased on Monday as recent US-Iran strikes in the Gulf pushed oil prices higher. Spot gold was down 0.6% at $4,062.89 per ounce, while US gold futures for August delivery lost 0.5% to $4,077.50. The metal is heading for a fourth consecutive monthly loss of 10.4%.

    Spot silver fell 1.2% to $58.47 per ounce. Platinum gained 0.2% to $1,617.15, and palladium rose 0.4% to $1,213.60.

    Key Levels to Watch

    Tim Waterer, chief market analyst at KCM Trade, commented: “US and Iran were at it again over the weekend, with fresh military strikes reported from both parties, which casts further doubt over how long oil can stay at these subdued levels and therefore over the broader inflation and interest rate outlook.”

    Waterer added: “Gold could see the $5,000 level again this year, but this would be based on further de-escalation, oil having a sustained move to pre-war levels to dull the inflationary impact of the conflict, and a softer dollar.”

    Internationally, gold has support at $4,055 and $4,010, while resistance is at $4,135 and $4,180 per troy ounce. Silver has support at $57.40 and $55.80, with resistance at $61.20 and $62.80 per troy ounce.

    On MCX, gold has support at ₹1,43,300 and ₹1,42,400 and resistance at ₹1,45,150 and ₹1,46,200. Silver has support at ₹2,20,000 and ₹2,16,600 and resistance at ₹2,26,000 and ₹2,29,100.

    Stay updated with the latest gold price movements and market insights.

  • MCX Gold Slides to ₹1,40,748 as US Dollar Index Remains Firm Above 101; Fed Rate Hike Outlook Weighs

    MCX Gold Slides to ₹1,40,748 as US Dollar Index Remains Firm Above 101; Fed Rate Hike Outlook Weighs

    Gold prices traded lower on the Multi Commodity Exchange (MCX) on June 24, as the US dollar index held above the 101 mark amid growing expectations of additional monetary tightening by the Federal Reserve. August gold futures declined 0.37%, settling at ₹1,40,748 per 10 grams. Meanwhile, July silver futures slipped 1.07% to ₹2,10,801.

    In the international market, Brent crude futures fell 1.68% to $72.50 a barrel, while US West Texas Intermediate (WTI) crude dropped 1.46% to $69.31 a barrel. The CME FedWatch Tool indicates that traders now anticipate three rate hikes from the US Federal Reserve this year, with a 67% probability of a September increase.

    Domestic Gold Prices

    In the domestic spot market, 24K gold fell by ₹278 to ₹1,40,130 per 10 grams, and 22K gold decreased by ₹255 to ₹1,28,450. City-wise rates were largely uniform: Mumbai and Kolkata quoted ₹1,40,130, Delhi ₹1,40,280, and Chennai ₹1,45,630.

    US Gold Prices

    US gold prices extended their losses on Thursday, trading near a more than seven-month low touched in the previous session. Spot gold dropped 0.4% to $3,985.89 per ounce, while US gold futures for August delivery eased 0.2% to $4,001.60 per ounce.

    Spot silver fell 0.2% to $57.33 per ounce, platinum lost 0.2% to $1,575.85, and palladium gained 0.3% to $1,170.25.

    Key Levels to Watch

    According to independent metals trader Tai Wong, “The market is pricing a rate hike as soon as September due to a hawkish Fed. A surging dollar and lower inflation expectations are weighing on precious metals.” Wong added that while a collapse is unlikely, gold may remain in a prolonged consolidation phase due to weak demand.

    On MCX, gold has support at ₹1,40,000 and ₹1,38,800, and resistance at ₹1,42,400 and ₹1,43,350. Silver has support at ₹2,09,100 and ₹2,05,000, with resistance at ₹2,16,600 and ₹2,21,000.