In the domestic market, MCX silver futures for September 2026 delivery were up Rs 2,200 to Rs 2,41,180 per kg. Gold futures for October 2026 delivery declined by Rs 822 to Rs 1,53,640 per 10 grams. With today’s gains, gold and silver have risen Rs 900 and Rs 3,500 in two sessions.
Markets are now awaiting the US producer price index data due on Thursday, followed by consumer price index data on Friday.
Spot gold declined in the previous two sessions after data showed US job growth accelerated sharply in August, while the unemployment rate remained unchanged at 4.1%, pointing to an improvement in labour market conditions.
According to the CME FedWatch Tool, traders currently see a 60% chance of a rate hike at the Fed’s policy meeting next week. Higher interest rates generally weigh on the appeal of non-yielding gold.
In the latest geopolitical development, Iran threatened the United States with “economic warfare” and said it had fired an advanced missile at US warships. The comments highlighted the risk of further escalation in the conflict, just days after the two sides exchanged fresh attacks.
Gold, silver international prices
Spot gold gained 0.6% to $4,429.89 per ounce, while US gold futures for December delivery were little changed at $4,475.10.Among other precious metals, spot silver rose 1% to $66.78 per ounce, platinum gained 0.4% to $1,834.00, while palladium was up 1% at $1,402.87.
How should you trade gold?
Manoj Kumar Jain of Prithvi Finmart said gold has support at $4,440-$4,400 per troy ounce, while resistance is seen at $4,510-$4,555. For silver, support is placed at $65.50-$64.40 per troy ounce, with resistance at $68.00-$69.10 in today’s session.
On the MCX, gold has support at Rs 1,51,750-Rs 1,50,500 and resistance at Rs 1,53,850-Rs 1,54,700. Silver has support at Rs 2,36,600-Rs 2,35,000, while resistance is seen at Rs 2,41,000-Rs 2,44,000.
Jain said long-term investors should accumulate gold and silver in a staggered manner during market declines. For traders, he recommended buying gold around Rs 1,52,000-Rs 1,50,500, with a stop-loss below Rs 1,48,800 and a target of Rs 1,54,400-Rs 1,56,500. He also recommended buying silver around Rs 2,36,600-Rs 2,35,000, with a stop-loss below Rs 2,31,000 and a target of Rs 2,41,000-Rs 2,44,000.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,13,152/8 grams while pure gold (24 carat) prices stand at Rs 1,23,432/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,13,032/8 grams while pure gold (24 carat) prices stand at Rs 1,23,312/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,13,032/8 grams while pure gold (24 carat) prices stand at Rs 1,23,312/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,13,032/8 grams while pure gold (24carat) prices stand at Rs 1,23,312/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)