Gold Price Today: Yellow metal hits another all-time high at Rs 82,357/10 g, silver at Rs 93,600/kg

Gold April futures contracts on MCX witnessed a surge this week amid safe-haven buying due to heightened US tariff concerns, striking a new all-time high of Rs 82,357/10 gram on Friday, opening higher by 0.37% or Rs 306.

Meanwhile, silver March futures contracts were trading at Rs 93,686/kg, up by 0.26% or Rs 240, trading near its 8-week high.

On Friday, gold and silver settled on a positive note in the domestic and international markets. Gold April futures contract settled at Rs 82,044 per 10 grams with a gain of 1.45% and silver March futures contract settled at Rs 93,446 per kilogram with a gain of 1.72%.

Gold and silver prices skyrocketed on Thursday amid safe-haven buying due to disappointing US pending home sales and advanced GDP data.

The U.S. pending home sales declined in December to -5.0% against expectations of an increase of 4.0%. The US Q4 GDP came up at 2.3% against expectations of 2.7% and well below the previous reading of 3.1%.

Gold prices hit record highs and silver prices also hit 8-week highs in the international markets. The European Central Bank cut interest rates by 25 basis points in its monetary policy meeting held on Thursday and also supported precious metal prices. “We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and volatility in the global financial markets and ahead of the US core PCE price index data,” said Manoj Kumar Jain of Prithvi finmart Commodity Research.Today, the US Dollar Index, DXY, was hovering near the 108.16 mark, gaining 0.36 or 0.33%.

Ranges for gold and silver by Manoj Kumar Jain:

• At MCX, gold has support at Rs 81,660-81,325 and resistance at Rs 82,480-83,000.
• Silver has support at Rs 92,800-92,220 and resistance at Rs 94,200-95,000.

Jain suggests buying silver around Rs 92,800 with a stop loss of Rs 92,000 for a target of Rs 94,400.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 57,408/8 grams while pure gold (24 carat) prices stand at Rs 57,408/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 57,080/8 grams while pure gold (24 carat) prices stand at Rs 60,864/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 56,728/8 grams while pure gold (24 carat) prices stand at Rs 60,464/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 56,984/8 grams while pure gold (24 carat) prices stand at Rs 60,784/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)