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Gold and silver prices edged lower on Tuesday, tracking global cues that hint at potential interest rate cuts by the US Federal Reserve. On the Multi Commodity Exchange (MCX), gold futures for August delivery fell by Rs 116 (0.12%) to Rs 1,00,200 per 10 grams, while silver futures for September delivery declined by Rs 100 (0.09%) to Rs 1,12,136 per kilogram.

Internationally, spot gold held steady at $3,371.40 per ounce as of 04:32 GMT, after hitting its highest level since July 24 in the previous session. US gold futures remained unchanged at $3,425.30 per ounce. The dollar index hovered near a one-week low, and US 10-year Treasury yields dropped to a one-month low, making gold more attractive to investors.

“Short-term momentum has improved for the bullish side… the Fed is still expected to cut rates in September,” said Kelvin Wong, Senior Market Analyst at OANDA. Traders are now pricing in a 92% probability of a rate cut, according to the CME FedWatch tool.

Meanwhile, silver slipped 0.1% to $37.37 per ounce, platinum dipped 0.4% to $1,324.05, and palladium lost 0.4% to $1,201.47.

Domestic bullion expert Manoj Jain, Director- Head commodity and currency research, Prithvi Finmart, noted that gold and silver extended gains in the previous session amid weak US job data and heightened tariff threats from the US President targeting Indian imports. Jain expects both metals to trade volatile this week, with gold likely moving in the range of $3,330–3,450 per ounce and silver between $35.80–38.40 per ounce.

Analysts suggest buying silver above Rs 1,12,000 with a stop loss at Rs 1,11,100 and a target of Rs 1,14,000. Gold is expected to face resistance at Rs 1,01,555–1,02,200 and support near Rs 1,00,100–99,650.

City

24K

22K

Mumbai

Rs 10,222

Rs 9,370

Delhi

Rs  10,237

Rs 9,385

Chennai

Rs  10,222

Rs 9,370

Kolkata

Rs  10,222

Rs 9,370

Bengaluru

Rs  10,222

Rs 9,370

Gold Price in Mumbai:

In Mumbai, the price of 24-karat gold stood at Rs 10,222per gram, while 22-karat gold was priced at Rs 9,370 per gram.

Gold Price in Delhi:

The national capital recorded 24K gold at Rs 10,237 per gram, with 22K gold available at Rs 9,385 per gram.

Gold Price in Chennai:

Gold rates in Chennai were slightly lower, with 24K gold at Rs 10,222per gram and 22K gold at Rs 9,370 per gram.

Gold Price in Kolkata:

In Kolkata, 24-karat gold was priced at Rs 10,222per gram, and 22-karat gold was selling at Rs 9,370 per gram.

Gold Price in Bengaluru:

Bengaluru saw 24K gold trading at Rs 10,222per gram, while 22K gold was available at Rs 9,370 per gram.

Gold Price in Pune:

Pune saw 24K gold trading at Rs 10,222per gram, while 22K gold was available at 9,370 per gram.

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