Gold and Silver Markets React to Global Economic Signals

Gold rate today: MCX Gold June futures contracts saw an increase of Rs 208 or 0.22%, opening at Rs 96,120/10 grams on Friday, recovering from earlier weekly dips. Silver May futures contracts began flat at Rs 97,440/kg, with a slight decrease of Rs 71 or 0.07%.

Experts attribute the market's movements to growing geopolitical uncertainties, including trade policy conflicts initiated by US President Donald Trump, alongside concerns over economic stagnation and inflation, which may continue to push gold prices upward.

Market Fluctuations and Recovery

Yesterday's settlements for gold and silver were mixed across domestic and international markets. Gold June futures closed at Rs 95,912 per 10 grams, marking a 1.26% gain, whereas silver May futures ended at Rs 97,511 per kilogram, down by 0.29%.

Both metals experienced significant price volatility, with gold making a strong comeback on Thursday after Wednesday's decline, as investors took advantage of lower prices. This recovery was influenced by rising U.S. unemployment claims and China's hints at economic stimulus measures.

U.S. Economic Indicators and Their Impact

U.S. unemployment claims rose to 2,22,000 from the previous 2,15,000, and existing home sales dropped to 4.02 million units from 4.27 million units. These figures provided some support for gold prices at lower levels.

However, the strengthening dollar index and ongoing US-China trade tariff discussions may limit further gains. The US Dollar Index, DXY, was noted near 99.59, up by 0.8 or 0.08%.

Physical Gold Market Rates Across India

Delhi Market Update: Standard gold (22 carat) is currently priced at Rs 57,960/8 grams, with pure gold (24 carat) at Rs 61,768/8 grams.

Mumbai Market Update: Standard gold (22 carat) is valued at Rs 56,984/8 grams, and pure gold (24 carat) at Rs 60,752/8 grams.

Chennai Market Update: Standard gold (22 carat) rates are at Rs 56,768/8 grams, with pure gold (24 carat) trading at Rs 60,536/8 grams.

Hyderabad Market Update: Standard gold (22 carat) is priced at Rs 56,832/8 grams, and pure gold (24 carat) costs Rs 60,576/8 grams.