Gold price today: MCX gold rate falls to near ₹96,000 on easing Israel-Iran tensions; silver prices drop 0.5%
Gold prices on the Multi Commodity Exchange (MCX) opened sharply lower on Friday, tracking weakness in international bullion prices, weighed down by a slight uptick in the US dollar and the Israel-Iran ceasefire.
MCX gold rate for August futures opened 0.85% lower at ₹ 96,261 per 10 grams as against its previous close of ₹ 97,087. MCX silver prices for July futures also opened 0.11% lower at ₹ 1,06,629 per kg as compared with its previous close of ₹ 1,06,755.
At 11:25 AM, MCX gold rate was trading lower by ₹ 987, or 1.02%, at ₹ 96,100 per 10 grams, while MCX silver rate was down by ₹ 204, or 0.19%, at ₹ 1,06,551 per kg.
MCX gold price hit a low of ₹ 95,954 per 10 grams, falling below ₹ 96,000 level, while silver price touched an intraday low of ₹ 1,06,109 per kg on Friday.
In the international bullion market, gold prices declined and were heading for a second weekly loss.
Spot gold price fell 0.4% to $3,313.23 per ounce. Bullion was down 1.7% this week. US gold futures fell 0.7% to $3,325.70. Spot silver was steady at $36.63 per ounce.
The dollar rose 0.2% against its rivals, making greenback-priced bullion more expensive for overseas buyers.
'The market now awaits the US core personal consumption expenditure data for further direction. Elsewhere, fading risks in the Middle East has reduced demand for safe-haven assets,' said Jigar Trivedi, Senior Research Analyst at Reliance Securities.
US core PCE data is due later today, which will be eyed for further insight into the US Federal Reserve's monetary policy outlook. Markets are currently pricing in a 63-basis-point rate cut this year, starting in September.
Jigar Trivedi expects MCX gold August futures may find support at ₹ 95,800 - 95,600 level, while resistance is seen at ₹ 96,500 level.
Support for MCX silver prices is placed at ₹ 1,05,500 - 1,05,000 levels, while resistance at ₹ 1,06,800 level, he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
42 minutes ago
- Hindustan Times
Housing sales decline 20% in India, 25% in MMR
Mumbai: Increasing property prices and geopolitical tensions across the world have hit housing sales in seven metropolitan cities in India, with sales dropping by 20% in the second quarter of 2025 compared to the second quarter of 2024. The Mumbai Metropolitan Region (MMR) was hit the hardest, with housing sales dropping by 25%, from 41,540 units in the second quarter of 2024 to 31,275 units in the second quarter of 2025, according to a report by real estate consulting firm, Anarock. (Hindustan Times) Approximately 96,285 houses were sold in the second quarter (April-June) of 2025 across the seven metropolitan cities – National Capital Region, MMR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata, compared to 120,335 houses sold in the same period in 2024. Housing sales in the seven cities increased marginally by 3% compared to the first quarter of 2025, the report shows. Chennai, the National Capital Region (NCR), Hyderabad and Bengaluru witnessed a spike in sales by 40%, 14%, 9% and 1% respectively. But in Kolkata, Pune and the MMR, housing sales dropped by 10%, 4% and 1%, respectively. 'The second quarter of 2025 was a rollercoaster for the Indian housing market, rocked by major military actions at home and abroad. The war-like climate pushed homebuyers into wait and watch mode, compounding the impact of soaring property prices over the past two years,' Anuj Puri, chairman, Anarock Group, told Hindustan Times. 'Now, with domestic tensions easing and the Reserve Bank of India's repo rate cut injecting fresh optimism, buyer sentiment is rebounding.' Similar sentiments were shared by other real estate consultants. 'Geopolitical tensions always have an impact on Indian real estate, though the degree varies depending on the geography and Indian economic interests in those countries,' said a real estate consultant, requesting anonymity. 'This time around, with America intervening in the Iran-Israel war, people feared that a medium to large-scale conflict may lead to economic slowdown or job cuts. Hence, home hunters decided to keep their purchase decisions on hold.' In keeping with the dip in sales, new launches decelerated by 16% on a year-on-year basis, from approximately 117,165 units in the second quarter of 2024 to around 98,625 units in the second quarter of 2025. Realty hotspots MMR and NCR saw the maximum new supply, accounting for 48% of the total new supply across the seven cities. MMR witnessed a 36% yearly decline and a 8% quarterly decline in new supply. One of the top developers in the MMR, who recently launched a project in the extended Navi Mumbai area, said, 'When the Ukraine-Russia conflict broke out in February 2022, we thought it would last only a few weeks, but we have been proved wrong. But that conflict did not have as much impact on India's realty industry as the one in the Middle East, especially with America's involvement.' Puri was optimistic about an uptick in sales in forthcoming quarters. 'Despite a 20% year-on-year dip in sales across the top seven cities, a 3% uptick this quarter signals renewed momentum,' he said. 'With home loan rates softening and developers largely holding prices steady, the stage is set for a potential upswing in housing sales in the coming quarters.'
NDTV
7 hours ago
- NDTV
"Like Absolute Butter": Trump On How US Struck Iran's Fordow Nuclear Site
New Delhi: Bombs dropped by American B-2 Stealth Fighter aircraft went through Iran's heavily-guarded Fordow nuclear facility "like butter", US President Donald Trump said. Speaking to Fox News, Trump said, "They were trying to seal up the entrance to where the bomb would most likely go in and they did that. They were working on that and the bomb went through it like it was butter, like it was absolute butter." He added that the June 22 strikes on Iran's three nuclear facilities - Fordow, Natanz and Ifsahan - "obliterated" the country's nuclear program. Fordow was known as the country's most secretive and heavily protected site, hidden beneath a mountain and designed to resist airstrikes and foreign interference. Trump said that the bunker-buster bomb strikes reduced Fordow to "just thousands of tons of rock". He went on to insist that highly-enriched uranium was not moved from the site before the attack, a claim made by Israeli officials to The New York Times. "I think first it was very hard to do. It's very dangerous to do. It's very heavy, very, very heavy. It's a very hard thing to do. Plus, we didn't give much notice because they didn't know we were coming until just then," he said. The strikes on Iran's nuclear sites came as the Iran-Israel conflict continued to escalate, with the two countries strikes since June 13. The US claimed it had given Tehran an ultimatum to stop enriching uranium, the failure of which led to the strikes, that used high-end weaponry, including the dreaded GBU-57 bunker busters and Tomahawk cruise missiles. While Trump said a day after the that Tehran's nuclear program has been set back by decades, UN nuclear watchdog chief Rafael Grossi says Iran likely will be able to begin to produce enriched uranium "in a matter of months". In Fox News ' "Sunday Morning Futures" program, Trump also said US trade talks with Canada will be stopped "until such time as they drop certain taxes". He went on to say that a group of buyers had been found for TikTok, which faces a looming ban in the United States due to its China ties, adding he could name the purchasers in two weeks. "Very wealthy people. It's a group of wealthy people," the president said, without revealing more except to say he would make their identities known "in about two weeks."
India.com
8 hours ago
- India.com
Kisses, Praise, Power And Nothing In Return: Inside Trump's Ego Diplomacy
New Delhi: Leaders discussed missiles, wars and global instability at the summit of the North Atlantic Treaty Organisation (NATO) in The Hague. But conversation shifted, tone changed and eyes followed when U.S. President Donald Trump walked into the room. Then came the comment that lit up the internet. 'Daddy has to sometimes use strong language,' NATO chief Mark Rutte said with a smile, referring to Trump's role in the Israel-Iran standoff. Trump laughed. 'He likes me. Hey Daddy. You are my Daddy,' he told reporters. The White House ran with it. A video soon appeared online – Trump shaking hands in slow motion, grinning and waving – cut to Usher's 'Hey Daddy'. But this was not comedy. This was a pattern. Across capitals, leaders are learning the same lesson – flattery gets you in the room. Whether it gets you results, though, is another matter. The Charm Offensive United Kingdom Prime Minister Keir Starmer brought a personal letter from King Charles. Italy's Giorgia Meloni quoted Trump's slogan and vowed to 'Make the West Great Again'. Prime Minister Mark Carney praised Trump as 'a transformational president' before drawing a hard line on Canadian sovereignty. The techniques vary – gifts, praise and symbolic gestures – but the goal remains constant – make Trump feel seen. Starmer went tactile – handshakes and shoulder taps. Meloni praised Trump's peace ambitions. Carney, more measured, offered respect without bending. But does it work? Not always. Despite the compliments, Trump froze UK military aid to Ukraine, left Meloni waiting for a promised state visit and killed trade talks with Canada after their new digital tax upset US tech giants. Even when leaders tried to match Trump's energy, results stayed elusive. The Ones Who Failed to Flatter French President Emmanuel Macron came prepared for conflict. Their meeting was tense. Trump stuck to a script. Macron pushed for Ukraine. There was no warmth. No shift. Ukrainian President Zelenskyy met a wall. Trump and Vice President J.D. Vance berated him in February. Trump accused him of risking a global war. Zelenskyy offered few pleasantries. It did not go well. Meanwhile, South African President Cyril Ramaphosa was cornered with a surprise video showing anti-white farmer protests. Trump accused his country of 'genocide'. Ramaphosa defused the moment with patience, but made no attempt at charm. The Fine Line Between Ego, Outcome Experts have long said flattery keeps Trump calm. But calm does not equal compromise. Leaders who praised Trump often walked away empty-handed. Still, some moments stick. Trump called Carney's political comeback 'maybe greater than mine'. He softened his tone after the Canadian prime minister rejected annexation talk outright. Denmark's Prime Minister Mette Frederiksen did something similar. She refused Trump's Greenland bid. Firm and respectful. He backed down. Global Stakes, Personal Dynamics For some, it is a calculated gamble. Ego-massaging buys time. Sometimes access. Rarely substance. But as world leaders line up with smiles, handshakes and tailored soundbites, one thing is clear – Trump's ego is not just a side show. It is part of the foreign policy stage. And everyone seems to know their lines.
