Gold, silver rates today: Gold price today resumed its gaining streak; however, it is still trading down by up to 3% from its record levels.
Both precious metals saw a sharp correction on Thursday after hitting record highs, as investors booked profits, though the metals were still set for their strongest monthly performance since the 1980s, supported by elevated economic and geopolitical uncertainty.
Spot gold traded at $5,400 during Asian trading hours on Friday. The precious metal fell by more than 5.7% on Thursday, after touching a record high of $5,594.82, before ending the session marginally lower.
On the other hand, spot silver also gained marginally, trading at $115 on Friday. The white metal also plunged 2%, after hitting a record high of $121.64 on Thursday.
What's driving the precious metals today?
According to Ponmudi R, CEO of Enrich Money, the ongoing rally continues to be supported by a confluence of macro and geopolitical factors.
Heightened geopolitical uncertainty—including renewed tariff tensions with key allies, risks surrounding Venezuela and Iran, strategic concerns linked to Greenland, and the rising probability of a U.S. government shutdown—has reinforced demand for safe-haven assets.
This is further complemented by growing safe-haven flows amid signs of slowing global growth, elevated U.S. debt levels, and a structurally weakening U.S. dollar. Persistent central-bank buying, alongside broader de-dollarisation trends, has added to the underlying support.
The U.S. Federal Reserve kept interest rates steady on Wednesday, with investors focused on President Trump’s forthcoming announcement of a successor to Fed Chair Jerome Powell, whose term concludes in May. Market participants broadly anticipate the central bank’s next rate cut to come in June.
In this backdrop, even modest corrections are attracting robust buying interest, leaving the broader outlook firmly bullish, Ponmudi said.
Is it right time to buy gold and silver?
Global brokerage firm UBS, as quoted by Reuters, raised its gold price forecast to $6,200 for the first three quarters of the year, while expecting prices to ease to $5,900 by the end of 2026, on Thursday.
Speaking on the outlook of the silver and gold rates today, Rahul Kalantri, VP Commodities at Mehta Equities, said, “Gold rate today has support at $5340 and $5220, while resistance is at $5525 and $5600. Silver rate today has support at $112.10 and $108.75, while resistance is at $118.15 and $122.00. ON MCX, the gold price today has support at ₹1,63,050 and ₹1,60,310, while resistance is at ₹1,70,850 and ₹1,73,950. Silver price today has support at ₹3,80,810 and ₹3,74,170, while resistance at ₹3,91,810 and ₹3,98,470.”
(With inputs from agencies)
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.
