On Tuesday, gold for April delivery at MCX started strong at ₹80,355 for every 10 grams, which is an increase of 0.24% (₹195). Meanwhile, silver for March delivery stayed the same at ₹90,223 per kilogram.
Last week, both gold and silver prices dropped due to a big sell-off in US tech stocks. A Chinese company named DeepSeek made headlines by creating an affordable AI language model that’s now the top free app on Apple’s App Store. This news caused many tech stocks in the US and worldwide to fall sharply. Despite this, global uncertainty is making people turn to gold and silver as safer investments.
Today, the US Dollar Index (DXY) is around 107.88, having gone up by 0.54%. Experts, like Manoj Kumar Jain from Prithvifinmart Commodity Research, think gold and silver prices could be unpredictable this week because of changes in the dollar index and bond markets, as well as meetings by the US Federal Reserve.
Jain also mentioned that:
– For gold, support levels are at ₹79,920-79,660 and resistance levels are at ₹80,440-80,700.
– For silver, support levels are ₹89,550-88,800 and resistance levels are at ₹91,000-91,650.
– He recommends buying silver around ₹90,000, with a stop-loss at ₹89,450 aimed at a target of ₹91,200.
Gold Prices in Different Cities:
– Delhi: 22 carat gold is ₹58,160 for 8 grams, and 24 carat gold is ₹61,984 for 8 grams.
– Mumbai: 22 carat gold is ₹56,928 for 8 grams, and 24 carat gold is ₹60,664 for 8 grams.
– Chennai: 22 carat gold is ₹56,912 for 8 grams, and 24 carat gold is ₹60,696 for 8 grams.
– Hyderabad: 22 carat gold is ₹56,936 for 8 grams, and 24 carat gold is ₹60,728 for 8 grams.
(Disclaimer: The advice given by the experts is their personal opinion and does not represent the views of Thellv.news)
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