Gold, Silver Rates Today: Silver prices also surged by Rs 2,800 to hit a record high of Rs 1,28,800 per kilogram (inclusive of all taxes) on Tuesday.
Price of precious metal gold zoomed Rs 5,080 to hit a new high of Rs 1,12,750 per 10 grams in the national capital on Tuesday. The prices surged amid weakness in the dollar and are in line with strong global trends. According to the All India Sarafa Association, gold of 99.9 per cent purity had closed at Rs 1,07,670 per 10 grams on Monday.
Similarly, prices of silver too surged by Rs 2,800 to hit a record high of Rs 1,28,800 per kilogram (inclusive of all taxes) on Tuesday. The precious metal had settled at Rs 1,26,000 per kg in the previous market session.
Gold Price In Global Market
In global markets, gold hit an all-time of USD 3,659.27 per ounce on Tuesday. The precious metal later traded at USD 3,652.72 per ounce, up by USD 16.81, or 0.46 per cent.
Traders said weak labour market data in the US last week has raised the likelihood of a monetary policy easing, which pushed investors towards safe-haven assets such as gold.
The dollar’s retreat further supported the upward momentum in bullion prices.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 97.29, went lower by 0.17 per cent.
Gold, Silver On MCX
Earlier during the day, gold October 3 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 429 at Rs 1,08,947 per 10 grams against the previous close of Rs 1,08,518. It further touched the day’s high of Rs 1,09,500 – also a fresh all-time high. Last seen, it was trading at Rs 1,09,314 with a jump of Rs 796 or 0.73 per cent.ย
“Gold traded positive with gains of 0.50% at $3654 on COMEX and 0.69% at โน1,09,250 on MCX as prices factored in the highly expected Fed rate cut after weak jobs and payroll data. The rally has stretched into overbought zones, keeping profit booking a possibility, hence trailing stop-loss for longs is advised. Any reversal signals from upcoming US data could trigger sharp reactions, with this weekโs CPI report expected to play a decisive role. Key support is placed at $3625 / Rs 1,08,000, while resistance is extended to $3675 / Rs 1,10,000,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.
However, the silver futures, maturing on December 5, 2025, started the session in the red. The contract opened with a fall of Rs 124 at Rs 1,25,463 per kg on the MCX against the previous close of Rs 1,25,571.