Latest news with #MCX
Mint
3 hours ago
- Business
- Mint
Gold price outlook: MCX gold rate may hit ₹94,000 level as Israel-Iran ceasefire, trade talks dent safe-haven demand
Gold prices on Multi Commodity Exchange (MCX) fell sharply on Friday, tracking losses in the global bullion market, as signs of easing geopolitical tensions in the Middle East with the Israel-Iran ceasefire holding up, and global trade optimism dampened safe-haven demand for the precious metal. MCX gold rate for August futures ended lower by ₹ 1,563, or 1.61%, at ₹ 95,524 per 10 grams. During the session, gold prices hit a low of 94,951, falling by ₹ 2,136, or 2.2%, from its previous close of ₹ 97,087. For the week, MCX gold price slumped 3.61%. MCX silver prices for September futures also declined. The white metal ended down by ₹ 1,468, or 1.36%, at ₹ 1,06,429 per kg. It touched a low of ₹ 1,05,380 during the session. In the international market, comex gold fell over 1.5% to trade below $3,270 per ounce, marking a second straight weekly loss and a nearly 3% decline for the week. 'The slide in gold prices comes as geopolitical risks ease and global trade optimism strengthens, dampening safe-haven appetite. A tentative ceasefire between Israel and Iran held firm, while US Commerce Secretary Howard Lutnick indicated trade frameworks with China and others are nearing completion — fueling risk-on sentiment in markets,' said Jigar Trivedi, Senior Research Analyst at Reliance Securities. Meanwhile, the US dollar dropped over 1.5% to below 97.3, its lowest since February 2022, weighed down by rising expectations of interest rate cuts following US Federal Reserve Chair Jerome Powell's dovish congressional testimony. Gold price next week will be influenced by a slew of factors, including economic data release in the US and European region. 'Key focal points for the coming week include, the progress in US trade talks ahead of the July 9 tariff decision deadline, the ECB Central Bank Forum, with comments expected from top officials including Chair Powell, and US macro data such as Nonfarm Payrolls, ISM Manufacturing & Services PMIs, and trade figures,' Trivedi noted. Gold price is expected to remain under pressure with a bearish bias, according to Jigar Trivedi. 'Comex gold has key support at $3,230 – $3,200 per ounce, while resistance is placed at $3,350 level. MCX gold price for August futures is expected to decline towards ₹ 94,800 – ₹ 94,000 per 10 grams as momentum remains weak,' Trivedi said. Read all Commodity Market news here
Mint
5 hours ago
- Business
- Mint
Gold price outlook: MCX gold rate may hit ₹94,000 level as Israel-Iran ceasefire, trade talks dent safe-haven demand
Gold prices on Multi Commodity Exchange (MCX) fell sharply on Friday, tracking losses in the global bullion market, as signs of easing geopolitical tensions in the Middle East with the Israel-Iran ceasefire holding up, and global trade optimism dampened safe-haven demand for the precious metal. MCX gold rate for August futures ended lower by ₹ 1,563, or 1.61%, at ₹ 95,524 per 10 grams. During the session, gold prices hit a low of 94,951, falling by ₹ 2,136, or 2.2%, from its previous close of ₹ 97,087. For the week, MCX gold price slumped 3.61%. MCX silver prices for September futures also declined. The white metal ended down by ₹ 1,468, or 1.36%, at ₹ 1,06,429 per kg. It touched a low of ₹ 1,05,380 during the session. In the international market, comex gold fell over 1.5% to trade below $3,270 per ounce, marking a second straight weekly loss and a nearly 3% decline for the week. 'The slide in gold prices comes as geopolitical risks ease and global trade optimism strengthens, dampening safe-haven appetite. A tentative ceasefire between Israel and Iran held firm, while US Commerce Secretary Howard Lutnick indicated trade frameworks with China and others are nearing completion — fueling risk-on sentiment in markets,' said Jigar Trivedi, Senior Research Analyst at Reliance Securities. Meanwhile, the US dollar dropped over 1.5% to below 97.3, its lowest since February 2022, weighed down by rising expectations of interest rate cuts following US Federal Reserve Chair Jerome Powell's dovish congressional testimony. Gold price next week will be influenced by a slew of factors, including economic data release in the US and European region. 'Key focal points for the coming week include, the progress in US trade talks ahead of the July 9 tariff decision deadline, the ECB Central Bank Forum, with comments expected from top officials including Chair Powell, and US macro data such as Nonfarm Payrolls, ISM Manufacturing & Services PMIs, and trade figures,' Trivedi noted. Gold price is expected to remain under pressure with a bearish bias, according to Jigar Trivedi. 'Comex gold has key support at $3,230 – $3,200 per ounce, while resistance is placed at $3,350 level. MCX gold price for August futures is expected to decline towards ₹ 94,800 – ₹ 94,000 per 10 grams as momentum remains weak,' Trivedi said. Read all Commodity Market news here Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
7 hours ago
- Business
- New Indian Express
Weekly Review: Gold prices fall as investors turn away from safe-haven assets
CHENNAI: Gold prices have recently declined, marking their second consecutive weekly loss, as global investors increasingly shift focus away from traditional safe-haven assets. The weakening demand for gold comes amid a broader surge in risk appetite, buoyed by rising equity markets, easing geopolitical tensions, and firming expectations of a stable macroeconomic environment. In India, the precious metal prices have eased this week, offering a potential buying opportunity. On June 28, the price for 22‑carat gold fell by about Rs55 per gram from the previous day—now around Rs. 8,930 per gram—while 24‑carat gold was Rs. 9,742 per gram. Over the last ten days, 22‑carat prices have dropped from Rs. 9,265 on June 19 to Rs. 8,930 on June 28—a fall of roughly Rs. 335. Similarly, 24‑carat gold fell from Rs. 10,108 to Rs. 9,742—a Rs. 366 decline. This downward trend reflects a broader global correction, driven by easing geopolitical tensions (such as the Israel‑Iran ceasefire), a stronger dollar, and rising U.S. Treasury yields reducing the appeal of non‑yielding assets like gold . In MCX futures, domestic prices dropped about Rs. 1,630 per 10 g this week amid reduced safe‑haven demand. For buyers, this dip may be a good chance to purchase jewelry or invest—but it's wise to monitor global trends, interest rates, and inflation data for future movements. Spot gold dropped by approximately 1.2% to around $3,288 per ounce, while US August futures fell by 1.7%, closing the week with a nearly 3% decline. This drop reflects investor preference for higher-yielding or growth-oriented assets, with the Nasdaq hitting fresh record highs—signaling a strong risk-on sentiment in the market. Gold's earlier rally, which saw prices touching historic highs earlier this year, has also prompted technical profit-taking, accelerating the recent sell-off.
News18
15 hours ago
- Business
- News18
Gold Prices Fall In Mumbai, Delhi, Other Cities: Check Latest Rates In Your City On June 27
Last Updated: Gold Price Today, June 27: In Mumbai, the price of gold stands at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Gold Prices In India Today, June 27: Gold and silver prices in India on Friday witnessed a decline amid easing geopolitical tensions in the Middle East and a recovery in global equities capped further upside. In Mumbai, the price of gold stood at Rs 90,690 per 10 grams for 22-carat and Rs 98,940 per 10 grams for 24-carat. Silver was also trading down at Rs 1,07,900 per kg in the city. These spot prices do not include making charges and 3% GST. On the other hand, on the MCX, gold futures fell by 1.04% to around Rs 96,082 per 10 grams. Silver also traded lower by 0.46% to trade at 1,06,268 per kg in the morning trade. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Easing geopolitical tensions in the Middle East and a recovery in global equities capped further upside in gold." First Published: June 27, 2025, 09:34 IST
Mint
a day ago
- Business
- Mint
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.
