Gold and Silver Prices: Whenever we talk about investment, gold is considered the safest option. But last Friday, gold and silver prices fell in both domestic and global markets. Gold has registered losses for the second consecutive week, and the main reason for this is the reduction of tension in the Middle East and positive progress in US-China trade talks.
Gold and Silver Prices: Decline in the domestic market
On Friday, the futures price of gold on MCX fell by ₹ 1,094 i.e. 1.13% to close at ₹ 95,993 per 10 grams. On the other hand, silver slipped by ₹ 305, i.e. 0.29% to reach ₹ 1,06,450 per kg. The impact of the strength of the rupee and weakness in the dollar index was also clearly visible on domestic prices.
Gold and Silver Prices: Pressure in the global market too
Spot gold prices fell by 0.9%, reaching $3,296.79 per ounce. At the same time, US gold futures fell 1.2% to close at $3,309.30 an ounce. This decline was also seen, especially because the ceasefire between Israel and Iran and the agreement between the US and China on rare earth supply reduced global tensions.
Investors eyes are now on America’s PCE data
Now the market’s eyes are on America’s core personal consumption expenditure (PCE) data, which the Federal Reserve sees as a key indicator of inflation. It is expected that this data will determine the direction of monetary policy for the coming months.
Gold and Silver Prices: Eye on technical levels
The support level for gold is stated to be $3,309–$3,284 and the resistance level is $3,366–$3,388. On the other hand, this range on MCX remains at the support of ₹96,600–96,100 and the resistance level is ₹97,500–97,920. Support for silver is seen at $36.30–$35.95 and resistance at $36.74–$37.00. Investors are advised to buy silver at ₹1,05,800 with a target of ₹1,07,000.
Dollar index and rupee movement
The dollar index fell 0.38% to close at 96.922, its lowest level in the last 3.5 years. The rupee also showed strength and closed 0.43% higher at 85.8575. In the coming days, the dollar index may remain in the range of 96.20–97.70 and the rupee in the range of 85.30–86.24.
Latest gold prices in cities (27 June 2025)
City 24 carat (per gram) 22 carat (per gram)
Mumbai ₹9,802 ₹8,985
Delhi ₹9,817 ₹9,000
Chennai ₹9,802 ₹8,985
Kolkata ₹9,802 ₹8,985
Bengaluru ₹9,802 ₹8,985
Pune ₹9,802 ₹8,985
Gold and Silver Prices: Advice for investors
If you are thinking of investing, it is wise to understand the market movement in the coming days and wait for US PCE data. The right time to invest can be chosen from the fluctuations in prices.
Disclaimer: This article is for general information purposes only. The prices and suggestions given here are based on the current market conditions. Before investing, please consult your financial advisor and confirm the information from authorised sources.
Also Read:
Gold Price Update 2025: Relief from Weak Dollar and Rate Cut Hopes, But Risks Still Loom
Gold Price Hits New Highs on June 23 as Middle East Unrest Fuels Market Fear
Gold Prices on May 1: Maharashtra Day Brings Market Closure, But Precious Metals Still Shine
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