Gold up Rs 1,480, silver gains Rs 2,700 in 2 days as dollar weakens, geopolitical tensions escalate
Precious metals gained strength as geopolitical tensions and profit-taking in the dollar index supported prices. On Tuesday, gold December futures at MCX rose by 0.50 per cent, opening at Rs 75,400 per 10 grams, while silver December futures traded at Rs 91,059 per kilogram, up by 0.60 per cent.
Gold gains Rs 1,480, silver adds Rs 2,700 in two days amid geopolitical tensions
Precious metals rebounded as gold surged by Rs 1,480 per 10 grams and silver by Rs 2,700 per kilogram in two days. Weak dollar and geopolitical concerns drove the rally.
Geopolitical tensions and dollar dip fuel gold and silver rally
Safe-haven demand surged as Russia-Ukraine tensions escalated, with U.S. approval of Ukraine’s long-range missile use. Profit-taking in the dollar index added momentum, boosting gold and silver prices.
Dollar index retreats from highs
Profit-taking in the dollar index supported precious metals; DXY hovered near 106.13, aiding price recovery.
Goldman Sachs' bullish outlook
Gold could hit $3,000/oz by December 2025, driven by global economic and political uncertainties, says Goldman Sachs.
Gold price forecast by experts
Gold support was seen at Rs 74,770 with resistance at Rs 75,650. Buying dips are suggested for Rs 75,500 targets.
Physical gold prices across cities
In Delhi, 22k gold priced at Rs 57,248/8g, while Mumbai sees 24k gold at Rs 61,240/8g. Chennai and Hyderabad follow similar trends.