Gold price today: Rates rebound on global uncertainty; experts highlight key levels for MCX Gold

Gold price today: After declining in early deals, gold rates rebounded in the domestic futures market on Wednesday as uncertainty surrounding US President Donald Trump's tariff policies remains a key support for the yellow metal. MCX Gold April 4 contracts were 0.35 per cent up at ₹87,864 per 10 grams around 1:05 PM.

Wednesday's gold price rise could be due to persisting global uncertainty and weaker US macro data.

According to Reuters, the Conference Board's consumer confidence index tumbled 7.2 points to 92.9 this month, the lowest level since January 2021. The measure of future expectations is the lowest in 12 years and well below the 80 mark. This signals US consumers anticipate a recession ahead.

There are mixed signals from the geopolitical front, which are largely positive for the yellow metal.

"The United States on Tuesday reached deals with Ukraine and Russia to pause their attacks at sea and against energy targets, with Washington agreeing to push to lift some sanctions against Moscow," reported Reuters.

Gold prices tend to gain during times of economic and geopolitical uncertainty.

Investors are focused on US President Donald Trump's reciprocal tariff moves. Market experts believe reciprocal tariffs will fuel inflation and weigh on economic growth.

Moreover, the focus is also on the US Fed's preferred inflation print, Personal Consumption Expenditures (PEC) data, due on Friday, which will influence expectations about the Fed's interest rate trajectory.

Experts appear positive about gold prices for the financial year 2025-2026 after a remarkable FY25.

Colin Shah, MD of Kama Jewelry, observed that gold prices surged approximately 15 per cent in the global market and 14 per cent in the domestic market in FY25. This marks one of the strongest performances in a year for gold in a decade.

Shah expects continued growth in gold prices in the coming financial year.

"As we enter the fiscal year 2026 (FY26), we anticipate continued growth in gold prices on the back of several factors - the likelihood of further rate cuts by the US Fed, geopolitical tensions, and Trump’s tariff threats. These factors combined will drive gold prices upwards," said Shah.

However, Shah added that a few potential challenges, such as strengthening the US dollar and shifting investor preferences towards other asset classes, may deter gold's performance in FY26.

Experts highlight key levels for MCX Gold, Silver

According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold and silver prices may remain volatile this week amid volatility in the dollar index and the US trade war.

Jain said gold has support at $3,034-3,022, while resistance at $3,068-3,080 per troy ounce and silver has support at $33.80-33.55, while resistance is at $34.44-34.80 per troy ounce in today’s session.

MCX Gold has support at ₹87,300-87,040 and resistance at ₹87,850-88,100 while silver has support at ₹98,400-97,700 and resistance at ₹1,00,000-1,01,200, said Jain.

Jain suggests buying silver around ₹98,500 with a stop loss of ₹97,650 for the target of ₹1,00,000.

According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,000-2,982 while resistance at $3,044-3,060. Silver has support at $33.54-33.35 while resistance is at $33.95-34.20.

In INR, gold has support at ₹87,340-87,080, while resistance at ₹87,710-87,900. Silver has support at ₹98,550-97,850 while resistance at ₹1,00,120-1,00,950, said Kalantri.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.