Gold, Silver Rates Today LIVE: MCX gold rate falls below ₹1.48 lakh; silver dips 0.5%; What's the strategy ahead?

Gold ETFs witnessed an outflow of ₹725 crore in May, breaking a 13-month streak of positive inflows, due to government appeals against purchasing the yellow metal and several asset management companies halting fresh inflows into these funds.

This was the first outflow since April 2025, when the Gold ETF saw a withdrawal of ₹5.82 crore.

Overall, Gold ETFs (Exchange-Traded Funds) have attracted more than ₹70,000 crore since May 2025.

Gold prices witnessed volatile trade with a gap-down opening near ₹146500, but lower levels attracted buying interest, helping prices recover towards the ₹148000 zone. Rupee weakness provided additional support to MCX Gold, allowing prices to bounce back despite mixed global cues.

Crude oil, after a sharp gap-up opening and an attempt to cross $95, witnessed profit booking of more than 2%, slipping back towards $91.50. However, as long as crude prices remain elevated, inflation concerns and expectations of a tighter interest rate environment are likely to keep pressure on bullion sentiment.

Overall, profit booking continues to be visible in gold, and the market remains sensitive to movements in crude oil, the rupee, and broader macroeconomic developments.

— Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

Gold's trajectory will hinge on the FOMC outcome, particularly the updated dot plot and policy guidance for rate outlook and any hawkish tilt by the new Fed Chair could add to downise pressure on Bullion. Any fresh escalation or de-escalation signals from the West Asia conflict will remain in focus, with volatility expected as markets digest inflation data and geopolitical developments simultaneously. Currently, spot gold and silver are trading higher, erasing earlier losses, as some of the initial panic-selling reverses. However, continued flare-ups straining the fragile ceasefire further could still drag gold below $4,000 and silver below $60.

— Kaynat Chainwala, AVP Commodity Research, Kotak Securities

In today's commodity market update, gold prices have shown a slight uptick, trading at $4,113.00 per ounce (approximately ₹1,26,567 per 10 grams), while silver has seen a decline, priced at $64.14 per ounce (around ₹1,97,390 per kg). The recent fluctuations are largely attributed to escalating tensions between the US and Iran, which have fueled uncertainty in the markets. Additionally, the release of US CPI data has contributed to the downward pressure on gold and silver, leading investors to reassess their positions. On the crude oil front, prices rose to $90.52 per barrel (around ₹8,664 per barrel), driven by geopolitical concerns that have heightened supply risks.

— Gaurav Garg, research analyst at Lemonn markets desk

MCX gold rate was trading lower by ₹721, or 0.49%, at ₹1,47,296 per 10 grams, while MCX silver price was down by ₹994, or 0.42%, at ₹2,34,511 per kg.

Ajay Kedia said that the overall trend for MCX gold price is negative to cautious. MCX gold rate may find support at ₹1,45,200 level, while resistance is seen at ₹1,53,500 level.

The sell-off in the gold and silver markets continues, and we attribute much of it to a turning in the technical trend. Flows are again dominating fundamentals, reflecting the expectation that the US Federal Reserve might raise interest rates. The most important indicator to watch is the holdings of physically backed products, which have been recording outflows but thus far no flush, said Carsten Menke, Head Next Generation Research, Julius Baer.

Menke lowered gold price targets to $4,250 and $4,500 per ounce and to $67.5 and $65 per ounce of silver in three and 12 months’ time respectively.

“Against this backdrop, we stick to our long position in the gold/silver ratio. Volatility is set to stay elevated until clarity and conviction about US monetary policy returns,” said Menke.

Advising investors to know their key levels as gold prices are expected to remain volatile due to escalation in the US-Iran war, Jateen Trivedi, VP Research — Commodity & Currency at LKP Securities, said the next important support for MCX gold price is seen near ₹1,45,000, while ₹1,40,000 remains a strong long-term demand zone. On the upside, ₹1,55,000 continues to be a major resistance level, and as long as prices remain below this mark, the overall sentiment is likely to stay weak.

Unless there is a meaningful shift in geopolitical developments or a change in the interest rate outlook, gold may continue to face pressure, with market participants closely monitoring US inflation data and central bank policy expectations for the next directional move, he added.

The overall trend for MCX silver price today is sideways to cautious. The MACD is bullish, but losing momentum below zero line. Important data in the evening can impact bullion prices and the trend can reverse, said Ajay Kedia, Director, Kedia Advisory.

According to him, support for MCX silver price is seen at ₹2,24,000, while resistance is placed at ₹2,38,500.

MCX silver price took support near the ₹2,30,000 level, reflecting cautious price action amid ongoing volatility. On the upside, a sustained move above ₹2,36,000 is required to strengthen momentum and trigger a recovery toward ₹2,40,000 and further toward the ₹2,43,000 zone. On the downside, a decisive break below the ₹2,30,000 support level could intensify selling pressure and drag prices toward the ₹2,28,000 – ₹2,25,000 region, said Ponmudi R.

Overall, the near-term bias remains cautious to negative, with prices attempting to stabilize near a key support level. A breakout above immediate resistance is required to improve sentiment and stabilize the structure, while geopolitical developments, safe-haven demand, and broader market volatility continue to influence price direction, he added.

Gold ETFs and silver ETFs plunged Thursday after precious metal prices on MCX traded lower. LIC Gold ETF, Aditya Birla Gold ETF, Choice Gold ETF, Motilal Oswal Gold ETF were among the top losers.

Comex silver has slipped below the key $64 support level, reflecting a cautious to bearish undertone amid persistent volatility and uncertain market sentiment.

“On the upside, a sustained move back above the $64–$65 zone is required to strengthen momentum and extend the recovery toward the $67–$68 range. On the downside, a decisive break below $62 could trigger fresh selling pressure and accelerate weakness toward the $60–$58 support zone, with the potential for further downside if bearish momentum intensifies,” said Ponmudi R.

Overall, he believes the near-term outlook remains cautious with a weak undertone, as prices continue to face pressure below key support levels. Geopolitical developments, macroeconomic uncertainty, and broader market volatility are expected to remain the primary drivers of price action.

MCX gold price’s sustained move back above ₹1,50,000 is required to improve sentiment and strengthen momentum, which could extend the recovery toward the ₹1,54,000 – ₹1,55,000 zone. On the downside, a decisive break below ₹1,46,000 could intensify selling pressure and drag prices toward the ₹1,45,000 – ₹1,43,000 support region, said Ponmudi R.

Overall, the near-term bias remains cautious to negative, with prices trading below a key psychological level. A sustained recovery above ₹1,50,000 is required to stabilize the structure, while geopolitical uncertainties and broader market volatility continue to influence price direction, he added.

Comex gold price has slipped below the key $4,100 support level, reflecting a weak to bearish undertone in price action and indicating continued downside pressure.

“On the upside, a sustained move above $4,150 could help revive buying interest and trigger a recovery toward the $4,250–$4,300 resistance zone. On the downside, a decisive break below $4,000 could attract further selling pressure and drag prices toward the $3,900 level, with the potential for additional weakness if bearish momentum intensifies,” said Ponmudi R, CEO of Enrich Money.

Overall, he believes the near-term outlook remains weak, with renewed selling pressure continuing to weigh on sentiment, while a break below $4,000 could accelerate downside pressure and extend the current corrective phase.

MCX gold prices are trading well below both the 21-day and 55-day EMAs, indicating strong downside momentum. Immediate support is seen near ₹1,45,200, while a break below this level could extend the decline towards ₹1,41,400. On the upside, ₹1,51,000 is likely to act as the first resistance, followed by the 55-day EMA near ₹1,54,300. As long as prices remain below these levels, the bias is likely to remain negative and rallies may attract fresh selling interest, said Dr. Ravi Singh, Chief Research Officer, Master Capital Services.

Despite escalating tensions involving Iran, international gold prices failed to attract sustained safe-haven demand as investors focused on rising inflation risks and expectations that the Federal Reserve could keep interest rates higher for longer. Higher Treasury yields and a stronger US dollar further weighed on sentiment, keeping gold prices near their lowest levels in six months.

MCX gold and silver prices traded off-day’s low amid a recovery from initial losses. MCX gold rate was down by ₹608, or 0.41%, at ₹1,47,409 per 10 grams. MCX silver price traded lower by ₹1,505, or 0.64%, at ₹2,34,000 per kg.

Gold and silver prices in India opened sharply lower on Multi Commodity Exchange (MCX) Thursday, following a weak trend in global bullion prices which hit an over six-months low.

MCX gold rate for August futures contracts opened lower by ₹1,499, or 1.01%, at ₹1,46,518 per 10 grams as against its previous close of ₹1,48,017 level.

MCX silver price for July futures contracts crashed by ₹3,834, or 1.62%, to open at ₹2,31,671 per kg as compared to its previous close of ₹2,35,505 level.

Among other commodities, platinum prices gained 0.6% to $1,673.75, and palladium prices rallied 2.2% to $1,239.89.

US consumer inflation increased at its fastest pace in three years in May, data showed. Investors now await the May US Producer Price Index data, due later in the day, to further assess the Fed’s monetary policy stance.

The US-Iran war escalated after the US struck multiple targets in Iran overnight, hours after President Donald Trump vowed new attacks if no peace deal is secured. The fresh attacks in the Middle East lifted crude oil prices, raising inflation concerns. While gold is viewed as a hedge against inflation, higher interest rates tend to weigh on the non-yielding metal.