• Source:JND

Gold, Silver Rate Today: Gold and Silver rates dropped significantly in the domestic futures market amid a heightening geopolitical situation in the Middle East and a strengthening dollar index. Gold futures contract, August 5 expiry, plunged over Rs 2,900 to an early low at Rs 1,49,500 per 10 grams as compared to last day's closing of Rs 1,52,443 on Multi Commodity Exchange (MCX). Similarly, the Silver futures contract, July 3 expiry, plummeted over Rs 5,100 to a low of Rs 2,33,400 per kilogram as compared to the previous closing of Rs 2,38,528 on MCX.

Last seen, MCX Silver was trading at Rs 2,34,798, Rs 3,730 or 1.56 per cent. MCX Gold was quoted at Rs 1,49,935, down Rs 2,508 or 1.65 per cent.

The precious metal prices were trading sharply lower in the international market as well. At the time of writing, COMEX Gold was trading at $4234.80, down $51.60 or 1.20 per cent. At the same time, COMEX Silver was quoted at $65.20, down 0.040 or 0.06 per cent.

"MCX Gold opened with a sharp gap down and is currently holding above the Rs 1,50,000 mark, reflecting cautious price action amid persistent volatility. Immediate resistance is placed at Rs 1,52,000, and a sustained move above this zone is required to strengthen momentum and extend the recovery toward Rs 1,54,000-Rs 1,55,000. On the downside, a decisive break below Rs 1,49,500-Rs 1,49,000 could intensify selling pressure and drag prices toward the Rs 1,52,000–Rs 1,48,000 support region," said Ponmudi R, CEO of Enrich Money 

Also Read: Indian Shoppers Lose Rs 28,000 Crore Annually To 'Dark Patterns': Are You One of Them?

24k, 22k Gold Rate Today

Gold prices for all purity levels fell a bit in the domestic retail market as well. The 24 karat gold rate today in India is Rs 1,50,590 per 10 grams, while the 22 karat gold rate today is Rs 1,38,041 per 10 grams.

At the same time, the 20 karat gold rate today is Rs 1,25,492 per 10 grams, while the 18 karat gold rate today is Rs 1,12,943 per 10 grams. Meanwhile, the silver rate in the domestic market is Rs 2,37,670 per 10 grams.


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