Here is your SEO-friendly, Google AdSense-safe rewritten news article for publishing:
Gold Rate Today: MCX Gold Slips Below ₹1.58 Lakh, Silver Falls Nearly 1% Amid Strong US Dollar
Gold and silver prices declined on Thursday as a stronger US dollar weighed on global bullion markets after upbeat US jobs data reduced expectations of an early interest rate cut by the US Federal Reserve.
MCX Gold and Silver Prices Today
On the Multi Commodity Exchange (MCX), gold and silver opened lower, tracking weakness in international markets.
MCX Gold (April Futures) opened 0.47% lower at ₹1,58,000 per 10 grams compared to its previous close of ₹1,58,755. The contract touched an intraday low of ₹1,57,701 and was trading down by ₹676, or 0.43%, at ₹1,58,079 per 10 grams.
MCX Silver (March Futures) opened lower by ₹1,657, or 0.63%, at ₹2,61,361 per kilogram versus the previous close of ₹2,63,018. Silver hit an intraday low of ₹2,60,453 and was trading down by ₹1,950, or 0.74%, at ₹2,61,068 per kg.
Why Are Gold and Silver Prices Falling?
Internationally, precious metals came under pressure after strong US employment data signaled resilience in the American economy. This reduced expectations of near-term monetary easing by the US Federal Reserve.
Spot gold fell 0.4% to $5,058.64 per ounce after rising more than 1% in the previous session.
US gold futures for April delivery declined 0.3% to $5,080 per ounce.
Spot silver dropped 1.4% to $82.87 per ounce after gaining 4% a day earlier.
A firm US dollar index further pressured bullion prices, as a stronger greenback makes dollar-priced metals more expensive for holders of other currencies.
Expert View on Gold Price Outlook
Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said gold trimmed earlier gains as investors scaled back expectations of immediate policy easing by the US Federal Reserve.
Despite the recent decline, gold remains above the $5,000 per ounce level, supported by:
Steady central bank demand
Geopolitical uncertainties
He expects MCX gold (April futures) to trade range-bound with a negative bias in the ₹1,57,000 to ₹1,60,000 zone.
For silver, Trivedi indicated that MCX silver (March futures) could slide towards ₹2,57,000 per kg amid weak global sentiment.
Ajay Kedia, Director at Kedia Advisory, said gold may find immediate support near $5,000, with resistance around $5,120. A break below $5,080 could push prices toward the $5,040–$5,012 range.
Domestically, MCX gold is expected to find support near ₹1,56,000, while resistance is seen around ₹1,60,500.
What Should Investors Do?
With US inflation data due soon, market participants are closely watching for further monetary policy signals. In the near term:
Traders may expect volatility within a defined range.
Long-term investors may monitor support levels before fresh accumulation.
Silver could remain under pressure if global risk sentiment stays weak.
As always, investors should align their strategy with their risk appetite and investment horizon before taking positions in precious metals.
0 Comments