Gold, Silver Prices Today: MCX Rates Fall Up to 1%
Gold futures fell to ₹1,48,410 per 10 grams and silver to ₹2,25,338 per kg on MCX as high US yields and the US-Iran standoff weighed. Key support and resistance levels.
Key Highlights
- Gold down: MCX gold futures (December) traded at ₹1,48,410 per 10 grams, down ₹487 or 0.33%.
- Silver weaker: Silver futures (December) traded at ₹2,25,338 per kg, down ₹2,104 or 0.93%, after touching ₹2,24,500.
- After a big fall: Spot gold was lower after dropping 4% in the previous session to a seven-week low.
- Key pressure: Elevated US yields and the US-Iran standoff over the Strait of Hormuz weighed on bullion.
- Key levels: Gold needs to hold ₹1,48,000; a move above ₹1,50,000 is needed to confirm a recovery.
Gold and silver prices traded lower on Tuesday, falling up to 1%, as elevated US yields and uncertainty over the US-Iran standoff weighed on sentiment. The weakness comes a day after spot gold fell 4% to a seven-week low.
Today's MCX Numbers
| Metal | Last traded | Change | Intraday low | Intraday high |
|---|---|---|---|---|
| Gold (Dec), per 10 g | ₹1,48,410 | −₹487 (−0.33%) | ₹1,48,150 | ₹1,49,034 |
| Silver (Dec), per kg | ₹2,25,338 | −₹2,104 (−0.93%) | ₹2,24,500 | ₹2,26,359 |
Why It Matters: Gold Isn't Acting Like a Safe Haven
Normally, geopolitical tension pushes gold prices up, as investors seek safety. This time, the opposite is happening, and the reason lies in the US bond market.
When US yields are high, investors can earn a solid return from bonds. That makes non-yielding assets such as gold and silver less attractive. At the same time, the Hormuz crisis is keeping energy prices elevated, which feeds concerns about inflation and keeps interest rates, and yields, high. The result is that the same crisis that might normally support gold is indirectly working against it.
