
New Delhi: On Tuesday, the gold and silver markets witnessed mixed movements in the first three hours of trading. While gold prices slipped, silver edged higher, showing divergent trends in precious metals.
Intraday Price Movements
On the MCX, April delivery gold fell by ₹748 per 10 grams, trading at ₹1,60,850. In contrast, silver rose sharply, gaining ₹1,067 per kg to reach ₹2,66,400. During the midday session, gold dipped further to ₹1,60,295, while silver momentarily fell to ₹2,62,908 before rallying to ₹2,68,130, up roughly ₹2,800 from earlier levels.
Reasons Behind the Price Fluctuations
Experts attribute the volatility to a strengthening U.S. dollar and uncertainty over U.S. tariffs. Heightened tensions between Washington and Tehran also contributed to fluctuating prices in the domestic market.
Global Market Trends
Internationally, spot gold fell 1.5% to $5,150.38 per ounce, after touching a three-week high earlier. Similarly, spot silver declined 3.1%, reaching $85.50 per ounce, following a two-week peak on Monday.
City-Wise Gold Rates (Per Gram)
| City | 24K Gold | 22K Gold | 18K Gold |
|---|---|---|---|
| Chennai | ₹16,244 | ₹14,890 | ₹12,730 |
| Mumbai | ₹16,178 | ₹14,830 | ₹12,134 |
| Delhi | ₹16,193 | ₹14,845 | ₹12,149 |
| Kolkata | ₹16,178 | ₹14,830 | ₹12,134 |
| Bengaluru | ₹16,178 | ₹14,830 | ₹12,134 |
| Lucknow | ₹16,193 | ₹14,845 | ₹12,149 |
| Patna | ₹16,183 | ₹14,835 | ₹12,139 |
Expert Outlook
Manoj Kumar Jain of Prithvi Finmart noted that global uncertainties are pushing traders and investors towards safe-haven assets like gold and silver. With Chinese markets reopening after extended holidays, precious metals may find additional support in the coming sessions.
Jain recommends purchasing gold in the ₹1,59,100–₹1,60,000 range, with a stop-loss at ₹1,57,700 and a target of ₹1,63,300–₹1,65,000. For silver, he suggests buying in the ₹2,55,500–₹2,60,000 range, with a stop-loss at ₹2,51,000 and a target between ₹2,70,000–₹2,74,000.
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