Gold, Silver Rates Today LIVE: Gold and silver prices in India traded higher on Friday, following gains in international bullion prices, amid a weak dollar.
MCX gold rate for June futures contracts opened higher by ₹1,486, or 1.04%, at ₹1,44,000 per 10 grams level as against its previous close of ₹1,42,514 level.
MCX silver rate for May futures contracts opened higher by ₹4,373, or 1.98%, at ₹2,24,247 per kilogram as compared to its previous close of ₹2,19,874 level.
Analysts believe MCX gold price may face resistance at ₹1.45 lakh level, while MCX silver price is likley to face the next hurdle at ₹2.30 lakh per kg level.
Gold on track for fourth straight weekly decline
Gold prices rose over 1%, buoyed by a weaker dollar, but was on track for a fourth straight weekly decline as surging energy prices fuelled inflation concerns and raised expectations of higher global interest rates.
Spot gold prices gained 1.1% to $4,428.30 per ounce. US gold futures for April delivery rallied 1.1% to $4,423.40 an ounce. Spot silver price rose 1.1% to $68.80 per ounce.
Gold prices have fallen about 1.3% so far this week, and has plunged about 17% since the US-Israeli war on Iran began on February 28, pressured by a stronger US dollar, which has gained more than 2% over the same period.
The dollar eased, making greenback-priced bullion cheaper for holders of other currencies.
The US-Iran war has led to higher oil prices, which threaten to push up inflation. Although inflation typically boosts gold’s appeal as a hedge, high interest rates weigh on demand for the non-yielding asset. Traders have fully priced out any Federal Reserve easing for 2026, compared with expectations for two cuts before the Iran conflict erupted, per the CME Group’s FedWatch Tool.
Among other commodities, spot platinum price fell 0.2% to $1,823.40, while palladium prices gained 1.3% to $1,370.75.
Stay tuned to this segment for the latest updates on gold and silver prices.
About The Author
