Gold and Silver Rate Today (April 8, 2025): Domestic gold and silver futures soared around 2.0 per cent each on Tuesday, tracking strength in the global benchmark which crossed the $3,000 per ounce mark as escalating trade tensions pushed investors from equities towards safer bets. Meanwhile, a partical recovery in equities from the steep losses in the past few days kept investors cautious towards equities. On MCX, gold futures (June 5) gained by as much as Rs 1,516, or 1.7 per cent, to Rs 88,444 while silver futures (May 5) rose by Rs 2,227, or 2.5 per cent, to Rs 90,475 in the evening session.
At 8:45 pm, the near-month gold and silver contracts held on strongly to green territory, trading higher by Rs 1,251 and Rs 1,322 at Rs 88,179 and Rs 89,570, respectively. Analysts expect volatility in both precious metals to persist this week tracking moves in the dollar index amid the ongoing global trade war, with growing concerns that the world’s largest economy might be derailed from its growth trajectory, further fuelling market uncertainty.
Typically, financial uncertainty supports precious metals as investors move away from equities to safer bets.
Spot gold was last up 0.4 per cent at $2,994.1 per ounce, after trading within $112 of a record high scaled last week.
The dollar index—which gauges the greenback against six currencies other than the rupee—was up 0.1 per cent at 103.4 at the last count. Strength in the US dollar dents the appeal of yellow metal for those dealing in other currencies.
Depreciating for a third straight day, the rupee tumbled by 50 paise to settle at a provisional 86.26 against the US dollar—its biggest single-day loss in nearly three months.
Prithvi Finmart director Manoj Kumar Jain suggests traders wait for some stability to return in the markets before initiating fresh positions.
Gold & Silver Rates | Where to expect support and resistance?
In the international market, gold could hold its key support level of $3,040 per troy ounce for the week but silver could lower towards $31.20 per troy ounce, according to Jain. He has identified the following key levels in the global benchmarks of both precious metals.
- Gold Support: $3,088-3,044
- Gold Resistance: $3,145-3,177
- Silver Support: $31.40-30.88
- Silver Resistance: $32.40-33
He has highlighted the following levels on MCX:
- Gold Support: Rs 89,360-88,800
- Gold Resistance: Rs 90,700-91,200
- Silver Support: Rs 93,150-91,800
- Silver Resistance: Rs 95,200-96,600
Here are the latest indicative rates in the following cities:
City-wise Gold Prices (24K – Per 10 Grams)
- Delhi: Rs 89,880
- Chennai: Rs 89,730
- Kolkata: Rs 89,730
- Bengaluru: Rs 89,730
- Mumbai: Rs 89,730
City-wise Gold Prices (22K – Per 10 Grams)
- Delhi: Rs 82,400
- Chennai: Rs 82,250
- Kolkata: Rs 82,250
- Bengaluru: Rs 82,250
- Mumbai: Rs 82,250
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