Latest Gold & Silver Price Trends in India: What to Expect Today

On Thursday, gold futures for April opened at Rs 80,549 per 10 grams, which is up by Rs 269 or 0.34%. In early trading, the price even reached as high as Rs 80,567 per 10 grams. Silver futures for March were priced at Rs 92,330 per kg, increasing by 0.51% or Rs 646.

On Wednesday, the prices of gold and silver were mixed. Gold settled at Rs 80,874 per 10 grams, a tiny drop of 0.03%. Silver, however, rose to Rs 91,866 per kg, gaining 0.90%.

Manoj Kumar Jain from Prithvi Finmart said that gold and silver prices changed quite a bit because the U.S. Federal Reserve decided to keep interest rates steady at 4.50%. Prices went down after they expressed worries about rising inflation.

The U.S. job market looks good, but there are concerns about inflation due to former President Trump’s tariff plans. Meanwhile, Canada lowered interest rates by 25 basis points to 3.0%, and the European Central Bank might follow suit soon, which could help boost precious metal prices.

Today, the U.S. Dollar Index, which shows how the U.S. dollar is performing, was at 107.84, down by 0.16% or 0.15%. Jain noted that gold and silver are maintaining their important support levels at $2,634 and $29.50 per troy ounce, respectively, in global markets.

He expects prices for both metals to be volatile this week, mainly because of shifts in the dollar and the financial markets, along with the upcoming European Central Bank meeting.

Support and Resistance Levels for Gold and Silver:
– Gold (MCX):
Support: Rs 80,600 – 80,350
Resistance: Rs 81,220 – 81,500
– Silver (MCX):
Support: Rs 91,100 – 90,450
Resistance: Rs 92,600 – 93,300

Jain recommends buying silver around Rs 91,400 with a stop loss at Rs 90,650 for a target of Rs 93,000.

Gold Prices in Indian Cities:
– Delhi:
22-carat: Rs 58,296/8 grams
24-carat: Rs 62,152/8 grams
– Mumbai:
22-carat: Rs 56,832/8 grams
24-carat: Rs 60,520/8 grams
– Chennai:
22-carat: Rs 56,720/8 grams
24-carat: Rs 60,424/8 grams
– Hyderabad:
22-carat: Rs 56,832/8 grams
24-carat: Rs 60,536/8 grams

(Note: The opinions and views of experts mentioned in this article are their own and do not reflect the views of Thellv.news)