Today, gold April futures prices started at Rs 86,116 for every 10 grams. This is an increase of Rs 306, or 0.36%. Meanwhile, silver March futures are at Rs 96,270 per kilogram, going up by Rs 1,037, which is about 1.09%.
This month, gold prices have jumped by Rs 3,900 for 10 grams and silver has increased by Rs 2,900 for 1 kilogram. Last Thursday, gold prices went up a bit more to Rs 85,809 for 10 grams, while silver fell slightly to Rs 95,233 for 1 kilogram.
The prices of gold and silver have been quite unstable, affected by recent news that showed US inflation was higher than expected. The Producer Price Index (PPI) in the US rose by 0.4% last month, more than the 0.3% that experts were expecting. Safe investments in gold are rising because of worries over trade tariffs.
Also, the US dollar’s strength is changing, and this is affecting gold and silver prices. Today, the US Dollar Index (DXY) is around 107.12, down by 0.19% or 0.18%.
However, some good news like fewer people applying for unemployment benefits and confusion over interest rates could prevent prices from rising too much.
Expert Manoj Kumar Jain from Niftystat predicts gold and silver will continue to be unpredictable today. He suggests prices will range as follows:
– Gold: Support at Rs 85,450-85,100 and resistance at Rs 86,325-86,650
– Silver: Support at Rs 94,400-93,800 and resistance at Rs 95,850-96,600
He recommends buying silver at around Rs 94,800, with a stop loss at Rs 94,200 and aiming for Rs 96,000.
Gold Prices in Different Cities:
– Delhi: Standard gold (22 carat) costs Rs 58,520 for 8 grams; pure gold (24 carat) is Rs 62,376 for 8 grams.
– Mumbai: Standard gold (22 carat) is Rs 58,032 for 8 grams; pure gold (24 carat) costs Rs 61,856 for 8 grams.
– Chennai: Standard gold (22 carat) is Rs 57,024 for 8 grams; pure gold (24 carat) is Rs 60,776 for 8 grams.
– Hyderabad: Standard gold (22 carat) is Rs 57,152 for 8 grams; pure gold (24 carat) is Rs 60,968 for 8 grams.
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