18 hours Ago
Gold rate today: Gold prices on MCX traded half a percent higher on Thursday, tracking gains in international bullion prices, on rising safe-have demand after US President Donald Trump announced more aggressive-than-anticipated reciprocal tariffs against major trading partners. MCX gold prices opened higher at ₹ 91,230 per 10 grams as against previous close of ₹ 90,728. MCX Silver prices opened lower at ₹ 99,658 per kg compared to previous close of ₹ 99,753.
Gold prices hit a fresh high of ₹ 91,423 after opening. At 9:10 AM, MCX gold rate was trading higher by ₹ 557, or 0.61%, at ₹ 91,285 per 10 grams.
MCX silver rate was down by ₹ 1,561, or 1.56%, at ₹ 98,192 per kg. International gold hit a record high as nervous investors rushed towards safe-haven assets on fears of widening global trade war.
Spot gold was up 0.4% at $3,145.93 an ounce, after hitting an all-time high of $3,167.
57 earlier in the session. US gold futures firmed 0.1% at $3,170.
70. Spot silver slipped 1.2% to $33.
61 an ounce. Donald Trump said on Wednesday that he would impose a 10% baseline tariff on all imports to the US and higher duties on dozens of other countries, including some of the United States' biggest trading partners, deepening the global trade war. Trump’s administration also confirmed that his 25% global car and truck tariffs will take effect as scheduled on April 3 and that duties on automotive parts imports will be launched on May 3, Reuters reported.
The dollar index and the US 10-year bond yields slipped to 5-1/2 month lows, supporting the gold prices. “Gold prices hit new life-time highs. Silver was also highly volatile during his tariff announcements but sell-off in the industrial metals and global equity markets unable to support silver prices.
Gold has support at $3,118 - 3,095 while resistance at $3,172 - 3,190. Silver has support at $33.30 - 33.
10 while resistance is at $33.80 - 34.05,” Rahul Kalantri, VP Commodities, Mehta Equities Ltd.
On MCX, according to him, gold prices have support at ₹ 90,480 -9 0,250 while resistance at ₹ 91,080 - 91,390. Sliver has support at ₹ 99,050 - 98,450 while resistance at ₹ 1,01,000 - 1,01,740. (To be updated) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
We advise investors to check with certified experts before making any investment decisions..
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