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Gold and silver prices traded lower in the domestic market on Monday, tracking cues from global trends and a stronger US dollar, as investors closely monitored geopolitical developments and awaited the Federal Reserve’s annual Jackson Hole symposium.

On the Multi Commodity Exchange (MCX), gold October futures slipped Rs 76 or 0.08 per cent to Rs 99,325 per 10 grams, while silver September futures fell Rs 594 or 0.52 per cent to Rs 1,12,998 per kilogram.

In international markets, spot gold was marginally down at $3,333.32 per ounce, while US gold futures for December delivery settled 0.1 per cent lower at $3,378. Spot silver edged up 0.1 per cent to $38.02 per ounce, while platinum slipped 0.1 per cent to $1,334.10. Spot palladium gained 1 per cent to $1,122.86.

Analysts said prices remained steady despite heightened political activity. US President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and European leaders on Ukraine’s security situation, along with his recent talks with Russian President Vladimir Putin, have kept markets cautious. Traders are also eyeing Fed Chair Jerome Powell’s speech at Jackson Hole later this week for clarity on monetary policy easing.

Manoj Jain, Head of Commodity and Currency Research at Prithvi Finmart, noted that gold and silver are expected to remain volatile amid global uncertainty and fluctuations in the rupee. “Support for gold is seen at Rs 99,100–98,660 and resistance at Rs 99,770–1,00,100, while silver has support at Rs 1,12,800–1,12,000 and resistance at Rs 1,14,200–1,15,115,” he said.

The US dollar index recovered from two-week lows, making bullion more expensive for holders of other currencies. Meanwhile, the rupee gained slightly on the back of equity market strength and Prime Minister Narendra Modi’s announcement of GST 2.0 reforms, though gains were capped by dollar strength and trade tariff concerns.

Experts expect precious metals to trade in a tight range this week, with global cues, Fed policy signals, and Russia-Ukraine peace talks being the key factors influencing direction.

City

24K

22K

Mumbai

Rs 10,075

Rs 9,235

Delhi

Rs  10,090

Rs 9,250

Chennai

Rs  10,075

Rs 9,235

Kolkata

Rs  10,075

Rs 9,235

Bengaluru

Rs  10,075

Rs 9,235

Gold Price in Mumbai:

In Mumbai, the price of 24-karat gold stood at Rs -10,135 per gram, while 22-karat gold was priced at Rs 9,290 per gram.

Gold Price in Delhi: 

The national capital recorded 24K gold at Rs 10,150 per gram, with 22K gold available at Rs 9,305 per gram.

Gold Price in Chennai:

Gold rates in Chennai were slightly lower, with 24K gold at Rs 10,135 per gram and 22K gold at Rs 9,290 per gram.

Gold Price in Kolkata:

In Kolkata, 24-karat gold was priced at Rs 10,135 per gram, and 22-karat gold was selling at Rs 9,290 per gram.

Gold Price in Bengaluru:

Bengaluru saw 24K gold trading at Rs 10,135 per gram, while 22K gold was available at Rs 9,290 per gram.

Gold Price in Pune:

Pune saw 24K gold trading at Rs 10,135 per gram, while 22K gold was available at 9,290 per gram.

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