Gold prices fall after 4 days; silver dips Rs 4,300/kg ahead of inflation data, Warsh speech at Jackson Hole
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In the domestic market, MCX silver futures for September 2026 delivery were down Rs 1,921 to Rs 2,42,299 per kg. Gold futures for October 2026 delivery declined by Rs 229 to Rs 1,63,015 per 10 grams. In the last two sessions, silver has declined Rs 4,300/kg, while gold dipped after a 4-day rally. Gold prices surged last week after the U.S. Treasury Department announced that it would double the size of liquidity support buyback operations for longer-dated notes and bonds. The move fuelled concerns over currency debasement. Gold is widely viewed as a hedge against inflation, although higher interest rates can weigh on demand for bullion by increasing the opportunity cost of holding the non-yielding asset. Warsh's first speech at the annual Jackson Hole conference this week has gained added importance as traders and analysts seek guidance on the recent rise in bond yields and reassurance about his independence from the Trump administration. The U.S. Personal Consumption Expenditures report, the Federal Reserve's preferred measure of inflation, is due on Wednesday. On the geopolitical front, Iran has vowed to retaliate against expanded U.S. economic sanctions that Washington said would cut off the country's economic lifeline. Tehran said it was confident that major trading partners would resist the pressure campaign. Also read: Gold prices jump 7% to log best weekly gain in 8 months. Start of another yellow metal bull run? Gold, silver international prices Spot gold was up 0.4% at $4,668.19 per ounce after touching its highest level since May 14 earlier in the session. U.S. gold futures gained 0.6% to $4,724.50. Among other precious metals, spot silver rose 0.3% to $69.16 per ounce, platinum gained 0.4% to $1,883.93, and palladium edged up 0.2% to $1,359.00. How should you trade gold? Manoj Kumar Jain of Prithvi Finmart said gold has support at $4,665-$4,610 per troy ounce, while resistance is seen at $4,740-$4,770. Silver has support at $67.70-$66.60, with resistance at $69.80-$71.00 per troy ounce. On the MCX, gold has support at Rs 1,62,200-Rs 1,61,000 and resistance at Rs 1,64,000-Rs 1,65,150, while silver has support at Rs 2,41,400-Rs 2,39,100 and resistance at Rs 2,47,000-Rs 2,50,000. Jain said he had suggested buying silver around Rs 2,44,000-Rs 2,41,000 on Monday, with a stop loss below Rs 2,37,000 and a target of Rs 2,49,000-Rs 2,52,500. Investors who took long positions based on the recommendation should maintain the suggested stop loss and book profits around the target levels, he said. He also recommended buying gold on dips in the Rs 1,62,200-Rs 1,61,000 range, with a stop loss below Rs 1,59,800 and a target of Rs 1,64,000-Rs 1,65,000. Read more: Explained: Why South Korea bought gold after 13 years and what it means for yellow metal investors? Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 1,20,368/8 grams while pure gold (24 carat) prices stand at Rs 1,31,304/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 1,20,248/8 grams while pure gold (24 carat) prices stand at Rs 1,31,184/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 1,20,248/8 grams while pure gold (24 carat) prices stand at Rs 1,31,184/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 1,20,248/8 grams while pure gold (24 carat) prices stand at Rs 1,31,184/8 grams. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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