The Indian rupee opened 0.63% stronger at 91.57 per US dollar on Thursday, compared with its previous close of 92.15.
MCX Gold futures due April 2026 were up by over Rs 1,600 or 1% to Rs 1,63,142 per 10 grams. Meanwhile, silver futures for May, 2026 delivery soared by Rs 8,700 or 3.2% to Rs 2,74,251 per kg.
In the international market, gold prices advanced on Thursday. Spot gold rose 0.8% to $5,177.26 per ounce as of 0249 GMT, while US gold futures for April delivery gained 1% to $5,186.40. Meanwhile, spot silver also moved higher, climbing 1.3% to $84.50 per ounce.
How should you trade gold?
Manoj Kumar Jain of Prithvi Finmart said that both gold and silver are witnessing extremely high price volatility. However, he expects silver to hold its key support level of $74 per troy ounce and gold to maintain support near $4,984 per troy ounce on a weekly closing basis.
He noted that precious metals are likely to remain volatile this week amid fluctuations in the dollar index, the ongoing US–Iran conflict, and ahead of the upcoming US jobs data release. For the near term, gold has support in the $5,080–$5,034 range and resistance at $5,220–$5,280 per troy ounce. Silver, meanwhile, has support at $80.80–$76.60 and resistance at $86.40–$90.00 per troy ounce in the current session.
On the MCX, Jain said gold has support at Rs 1,59,800–Rs 1,57,700 and resistance at Rs 1,63,200–Rs 1,64,400. Silver has support at Rs 2,61,600–Rs 2,55,500 and resistance at Rs 2,71,000–Rs 2,78,000. He advised investors to consider booking profits at higher levels and avoid fresh buying at elevated prices, unless gold sustains above Rs 1,64,400 and silver holds above Rs 2,78,000.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,20,752/8 grams while pure gold (24 carat) prices stand at Rs 1,31,720/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,20,632/8 grams while pure gold (24 carat) prices stand at Rs 1,31,600/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,21,592/8 grams while pure gold (24 carat) prices stand at Rs 1,32,648/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,20,632/8 grams while pure gold (24 carat) prices stand at Rs 1,31,600/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)