Gold and Silver rate today (April 25, 2024): Precious metal decline as the geopolitical situation stabilises

Gold and Silver rate today (April 25, 2024): Domestic precious metal futures on Thursday were under pressure after the geopolitical situation stablised. The yellow metal was below Rs 70,850 and the white metal was below Rs 80,200. 

Last seen, MCX gold futures (Jun 5) were down Rs 240 or 0.34 per cent at Rs 70,810 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) slipped 0.42 per cent or Rs 341 at Rs 80,156 per kg. 

Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold June futures on the rise at 70,700, keeping the stop loss at Rs 71,400 and a target price of Rs 70,000. For silver May futures, she recommended selling on the rise at Rs 80,000, with a stop loss of Rs 81,000 and a target of Rs 78,100.

Meanwhile, COMEX gold in the international market was down 0.56 per cent at $2,325.4.

"The geopolitical situation was largely stable though heavy fighting was reported between Israel and Hezbollah. Support is at $2290/$2265. Resistance is at $2350/$2360. The metal is expected to trade with a downward bias as the geopolitical scenario is largely stable," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Here's an indicative list of spot gold prices in some of the major Indian cities.

City-wise gold rate (24k) in India (April 25, 2024)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

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