Gold & Silver Rates Today: Yellow metal futures dip below Rs 70,600, silver futures below Rs 81,000; catch latest updates here
Gold Price Today: Domestic yellow metal futures (October 4) recovered their intraday losses to settle almost flat at Rs 70,740 on MCX on Monday. With spot gold last seen trading near the $2,465 an ounce mark early on Tuesday, August 13, here's where you can expect gold futures to be in the commodity market back home.
Catch minute-by-minute updates on domestic bullion and futures, and international spot rates of the precious metal today:
Gold Price Today: Domestic yellow metal futures (October 4) recovered their intraday losses to settle almost flat at Rs 70,740 on MCX on Monday. With spot gold last seen trading near the $2,465 an ounce mark early on Tuesday, August 13, here's where you can expect gold futures to be in the commodity market back home.
Catch minute-by-minute updates on domestic bullion and futures, and international spot rates of the precious metal today:
Latest Updates
Gold & Silver Rates | MCX gold futures settle at Rs 70,699, silver at Rs 81,049
Here are the closing levels for the evening session on Tuesday:
- Gold futures (October 4): Rs 70,699
- Silver futures (September 5): Rs 81,049
Gold Rate Today: Comex gold prices stable above $2,500 as safe-haven demand from heightened geopolitical tensions in Middle East offsets caution ahead of key US data due this week, says Kotak Securities' Kaynat Chainwala
According to Kaynat Chainwala of Kotak Securities, investors are focusing on the upcoming US inflation data, which may provide more clarity on a potential soft landing and help shape the Fed’s monetary policy outlook.
Gold Rate Today: Downtick in inflation to act as silver lining for precious metals, says Axis Securities' Deveya Gaglani
Deveya Gaglani of Axis Securities points out that Monday's spike in MCX gold futures was driven by expectations of a rate cut as the yield curve continues to narrow ahead of crucial CPI data set to be released later this week.
"A downtick in the inflation data will act as a silver lining for precious metals, and we expect them to head higher. Additionally, ongoing geopolitical tensions continue to benefit the yellow metal because of its safe-have appeal... A breakout and weekly close above spot gold's lifetime high of $2,483 will be a bullish signal, potentially driving it towards $2,550. In MCX, we may expect a level of Rs 72,000 in the coming months," says Gaglani.
Gold & Silver Rates Today: Yellow metal futures near Rs 70,600, white metal futures near Rs 81,100
Here's how both near-month contracts fare two hours into the opening trade:
Gold (October 4): Rs 70,606, down by Rs 132 or 0.2 per cent, for the day
Silver (September 5): Rs 81,106, down by Rs 518, or 0.6 per cent
Gold & Silver Rates Today: Gold support at Rs 70,520, Rs 70,230; resistance at Rs 70,950, Rs 71,090, says Angel One's Manish Pargi
Take a look at key support and resistance levels for the day, as estimated by Manish Pargi of Angel One.
Gold & Silver Rates Today: Yellow metal futures near Rs 70,600, white metal futures near Rs 81,100
Monday's strong rebound in Comex prices (from $2,403 per ounce last week) to $2,476 per ounce was driven by a market rally, despite China’s central bank refraining from gold purchases for a third consecutive month, according to Kaynat Chainwala, AVP-Commodity Research, Kotak Securities.
"Gold prices were also bolstered by escalating geopolitical tensions in the Middle East and speculation about nearly 100 basis points of rate cuts by the Fed by the end of the year... Today, Comex gold is holding steady above $2,465 per ounce ahead of US CPI and retail sales data due this week, which may provide fresh insights into consumer resilience," says Chainwala.
Gold & Silver Rates Today: Yellow metal futures open weaker at Rs 70,661, metal futures at Rs 81,086
Here are the opening levels for both precious metals:
- Gold futures (October 4) begin day at Rs 70,661 vs previous close of Rs 70,738
- Silver futures (September 5) open at Rs 81,086 vs previous close of Rs 81,624
Silver Rate LIVE: Silver futures begin day in red territory
Silver futures (September 5) is down by Rs 413 - or 0.5 per cent - at Rs 81,211 at this hour.
Image: MCXIndia.com
Silver Rate LIVE: Silver futures begin day in red territory
Silver futures (September 5) is down by Rs 413 - or 0.5 per cent - at Rs 81,211 at this hour.
Image: MCXIndia.com
Gold Rate Today LIVE: MCX gold futures inch lower
MCX gold futures (October 4) begin the day with mild losses, trading down by Rs 61 or 0.1 per cent at Rs 70,677 a few moments into the opening tick.
Image: MCXIndia.com
Currency Market Update | Rupee rises by 3 paise to 83.95 vs dollar in early trade
Gold Rate Update: Here's where MCX gold December contract stood on Monday
On Monday, MCX gold futures for December 5 delivery climbed up by Rs 21 to settle at Rs 71,199.
During the session, the contract moved within a Rs 951 range, between Rs 70,249 and Rs 71,200.
Gold Rate Update: Here's where MCX gold December contract stood on Monday
On Monday, MCX gold futures for December 5 delivery climbed up by Rs 21 to settle at Rs 71,199.
During the session, the contract moved within a Rs 951 range, between Rs 70,249 and Rs 71,200.
Gold Rate: On Monday, gold & silver rose in global markets
On August 12, gold futures (December) settled at $2,504 per troy ounce, up 1.4 per cent for the day.
Silver futures (September) ended at $28 per troy ounce, up 1.7 per cent.