Gold price today: Rates climb as focus remains on US trade talks; experts highlight these key levels for MCX Gold

Gold price today: Gold rates inched up in morning trade on Monday, July 21, as investors awaited fresh updates on negotiations between the US and its trading partners, while the dollar's weakness also supported the yellow metal. The dollar index declined over 0.10 per cent, making gold cheaper in other currencies.

MCX Gold August 5 contracts traded 0.11 per cent higher at ₹98,127 per 10 grams around 9:10 AM. MCX Silver September 5 contracts were down 0.01 per cent at ₹1,12,937 per kg at that time.

The focus remains on US trade negotiations as the August 1 deadline approaches. Persisting uncertainty over the tariff front remains a key support for gold prices.

While talks between the US and the European Union continue, according to a Financial Times report, US President Donald Trump plans to impose a minimum tariff rate of 15 per cent to 20 per cent on any deal with the European Union.

Meanwhile, investors are closely watching for greater clarity on the ongoing India-US trade negotiations, which remain stalled over several key issues. One major sticking point is India’s stringent regulations, including mandates for vegetarian feed in cattle farming and its cautious stance on genetically modified (GM) crops, driven by environmental and health concerns.

According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $38.10-37.84, while resistance is at $38.70-39.10 per troy ounce in today’s session.

MCX Gold has support at ₹97,770-97,440 and resistance at ₹98,360-98,640 while silver has support at ₹1,12,200-1,11,400 and resistance at ₹1,13,650-1,14,500, said Jain.

Jain suggests buying silver on dips around ₹1,12,200 with a stop loss of ₹1,11,450 for the target of ₹1,13,650-1,14,200.

Rahul Kalantri, VP of commodities at Mehta Equities, said gold has support at $3,330-3,310 and resistance at $3,370-3,390. Silver has support at $37.85-37.55 and resistance at $38.45-38.65.

In INR, Kalantri said gold has support at ₹97,680-97,450 while resistance is at ₹98,250-98,480. Silver has support at ₹1,12,180-1,11,450 while resistance at ₹1,13,750-1,14,500.

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