On the domestic front, MCX silver futures for May 2026 delivery dropped Rs 1,701, or 0.6%, to Rs 2,42,067 per kg. Gold futures for June 2026 delivery declined Rs 900, or 0.5%, to Rs 1,53,434 per 10 grams.
Further, investors remained cautious as they awaited more clarity on the U.S.-Iran ceasefire situation. Uncertainty persists over the durability of the ceasefire, with Israel’s actions against Hezbollah in Lebanon and Iran’s targeting of regional energy infrastructure continuing to weigh on sentiment.
In the international market, gold prices slipped slightly on Friday as a firmer dollar weighed on the metal. However, bullion remained on track for a third straight weekly gain, supported by easing inflation concerns and reduced expectations of higher U.S. interest rates amid renewed optimism over a U.S.-Iran ceasefire.
Spot gold was down 0.2% at $4,755.84 per ounce as of 0055 GMT, though it has still risen 1.8% so far this week. U.S. gold futures for June delivery declined 0.8% to $4,779.20. Among other precious metals, spot silver edged up 0.1% to $75.11 per ounce.
How should you trade gold?
Manoj Kumar Jain of Prithvi Finmart said gold and silver prices are likely to remain volatile in today’s session due to fluctuations in the dollar index, movements in crude oil prices and the upcoming U.S.-Iran ceasefire talks.
He noted that gold has support in the range of $4,770 to $4,724 per troy ounce and resistance between $4,840 and $4,884. Silver, on the other hand, has support at $74.00 to $70.70 and resistance at $78.80 to $80.40 per troy ounce.
On the MCX, gold is seen finding support at Rs 1,51,100 to Rs 1,49,800, with resistance placed at Rs 1,55,000 to Rs 1,56,600. Silver has support at Rs 2,38,800 to Rs 2,34,000 and resistance between Rs 2,47,700 and Rs 2,51,000.
Jain recommends buying gold on dips around Rs 1,51,000, with a stop loss below Rs 1,49,600 on a closing basis, targeting Rs 1,53,800. He also suggests buying silver on dips near Rs 2,37,000, with a stop loss below Rs 2,33,300 and a target of Rs 2,45,000.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,11,192/8 grams while pure gold (24 carat) prices stand at Rs 1,21,296/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,11,072/8 grams while pure gold (24 carat) prices stand at Rs 1,21,176/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,11,992/8 grams while pure gold (24carat) prices stand at Rs 1,22,176/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,11,072/8 grams while pure gold (24 carat) prices stand at Rs 1,21,176/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)