Gold and silver prices opened marginally higher on Multi Commodity Exchange (MCX) on Wednesday aided by a weaker dollar, as investors tracked developments in peace talks between the United States and Iran while also evaluating the U.S. Federal Reserve’s policy outlook.
In the domestic market, MCX silver futures for July 2026 delivery were up Rs 2,000 or 0.7% to Rs 2,72,628 per kg. Gold futures for June 2026 delivery rose marginally by Rs 215 at Rs 1,57,898 per 10 grams. In the previous session, silver and gold were marginally lower.
Market participants are closely watching upcoming comments from U.S. Federal Reserve officials, including Fed Vice Chair Philip Jefferson and Governor Lisa Cook, for further clarity on how inflation could shape the central bank’s future monetary policy stance.
Oil hovered near $100. Liquid gold prices influence inflation expectations. Elevated crude can fuel inflation and keep interest rates higher for longer. While gold is seen as an inflation hedge, higher rates tend to weigh on the non-yielding metal.
In the international market, Spot gold rose 0.2% to $4,516.76 per ounce, while U.S. gold futures for June delivery gained 0.3% to $4,516.30. Among other precious metals, spot silver advanced 0.6% to $77.40 per ounce, platinum was largely unchanged at $1,957.75, while palladium climbed 0.9% to $1,391.68.
How should you trade gold?
Manoj Kumar Jain said gold has support at $4,500-4,467 per troy ounce, while resistance is placed at $4,574-4,600 per troy ounce in today’s session. Silver has support at $74.40-72.00 per troy ounce, while resistance is seen at $78.80-80.40 per troy ounce.
He said Prithvi Finmart had recommended buying silver last week in the Rs 2,71,000-2,67,000 range with a stop loss below Rs 2,63,000 for targets of Rs 2,81,000-2,85,000. Investors holding long positions based on the recommendation have been advised to strictly maintain the given stop loss and book profits around Rs 2,75,000-2,78,000 levels.
Jain added that the firm had also suggested buying gold in the Rs 1,58,500-1,57,700 range with a stop loss below Rs 1,56,650 for targets of Rs 1,59,350-1,60,300. Those holding long positions in gold have been advised to book profits around Rs 1,59,100-1,59,500 levels.
Gold rates in physical markets
Gold Price today in DelhiStandard gold (22 carat) prices in Delhi stand at Rs 1,16,632/8 grams while pure gold (24 carat) prices stand at Rs 1,27,632/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,16,512/8 grams while pure gold (24 carat) prices stand at Rs 1,27,104/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,17,832/8 grams while pure gold (24carat) prices stand at Rs 1,28,544/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,16,512/8 grams while pure gold (24 carat) prices stand at Rs 1,27,104/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
