Commodity Prices News

Gold prices edged lower after it touched a six-week peak in the previous session, as investors booked profits even as they awaited remarks by the Federal Reserve Chair and key economic data for interest rate cut cues.

India's current account deficit is projected to reach 1.7% of GDP in FY26, influenced by persistent trade tariff pressures, surpassing previous expectations.

Gold rate today: Gold prices have gained 55% YTD and touched a record high of $4,179.48 on Tuesday. Gold price rally is driven by multiple factors, including geopolitical and economic uncertainties, US Fed rate cut hopes, strong central bank buying, de-dollarisation trend and robust ETF inflows.

MCX gold rate hit a lifetime high of ₹1,23,450 per 10 grams, while MCX silver price touched ₹1,50,282 per kg. Analysts expect further upside during the festive season, especially around Diwali.

Gold prices have climbed nearly 51%, while silver prices have outperformed with around 68% returns so far this year. Despite record highs, analysts believe festive season demand and positive global cues will continue to support MCX gold prices, while a weaker rupee could add further upside momentum.

Gold price today: Gold prices were steady as investors awaited key US economic data for further insights into Federal Reserve policy, with a slightly weaker dollar lending some support to bullion.

Silver rate on MCX recently touched a historic peak of over ₹1,30,000 per kg, a level widely projected by analysts. The next significant milestone is ₹1,50,000 per kg, which experts believe could be achievable in the long term.

Gold prices reached a record high of $3,508.50 amid a weaker dollar and expectations of a U.S. interest rate cut. Spot gold rose to $3,492.26 per ounce. Analysts predict further gains for gold and silver due to policy easing and strong demand from China.

Gold price today: Gold prices traded flat as the safe-haven appeal for the yellow metal decreased after US President Donald Trump held a meeting with Russian President Vladimir Putin in Alaska on August 15, aimed at ending the war in Ukraine.