Based on comprehensive market research and expert analysis, gold prices in India are currently holding firm above the psychological barrier of Rs 1.12 lakh per 10 grams, creating a critical investment dilemma for traders and investors. The precious metal has achieved an unprecedented streak, delivering positive monthly returns throughout 2025 with a remarkable 45% year-to-date gain.
Gold Takes a Breather, Still Above ₹1.12 Lakh/10g
Gold October futures prices on MCX were firm near their higher levels, dropping by ₹ 155 or 0.14% in Thursday’s early trade at ₹ 1,12,400/10 grams, taking a breather after a sharp rally this week.
However, Silver December 2025 futures prices on MCX opened higher at ₹ 1,34,355/kg, up by ₹ 353 or 0.26%.
In the international market, gold prices held steady on Thursday as investors awaited key U.S. economic data for further insights into Federal Reserve policy, with a slightly weaker dollar lending some support to bullion.
Spot gold was steady at $3,734.04 per ounce, as of 0202 GMT. U.S. gold futures for December delivery were unchanged at $3,765.20.
Federal Reserve Bank
San Francisco Federal Reserve Bank President Mary Daly said on Wednesday she “fully supported” the decision by the Fed to cut its policy rate last week and expects further reductions ahead.
On Tuesday, Fed Chair Jerome Powell emphasised the need to balance inflation risks and a weakening jobs market in upcoming policy decisions.
Investors are awaiting the personal consumption expenditures (PCE) price index report, the Fed’s preferred inflation measure, on Friday for further interest rate cues.
On Wednesday, gold and silver settled on a weaker note in the domestic market and international markets. Gold October futures contract settled at ₹ 1,12,555 per 10 grams with a loss of 1.13% and silver December futures contract settled at ₹ 1,34,002 per kilogram with a loss of 0.78%.
Gold and silver show profit taking
Gold and silver show profit taking from the record-high levels amid a rebound in the dollar index after better-than-expected U.S. new home sales data.
The dollar index crossed 97marks once and the U.S. 10-year bond yield also surged and easing safe-haven buying for precious metals. Gold prices slipped from record-high levels and silver prices also slipped from 14-1/2 year highs.
Today, the US Dollar Index, DXY, was hovering near the 97.78 mark, gaining 0.10 or 0.10%.
“The U.S. Fed Chairman’s worries about inflation and the U.S. job markets and no commitment for the aggressive rate cuts, were also a reason for profit booking.
However, Jain believes that geopolitical tensions and global central banks’ buying could continue to support gold and silver prices.
Jain added that gold prices crossed $3,454 and silver prices also crossed $39.10 per troy ounce levels and could show further strength in the upcoming sessions.
“We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in the global financial markets and ahead of the U.S. core PCE price index data and gold are expected to trade in the range of $3,654-3,840 per troy ounce and silver is expected to trade in the range of $42.40-45.50 per troy this week,” he added.
How to trade gold?
Neal Bhai Said, the following ranges for gold and silver on MCX:
- MCX Gold has support at ₹ 1,11,500 and Hurdle at ₹ 1,13,500
- MCX Silver has support at ₹ 1,30,500 and Hurdle at ₹ 1,36,600
- Neal Bhai Said, waiting for some corrective dips for initiating fresh long positions in gold and silver.
Gold rates in physical markets
Gold Rate today in Delhi
Standard gold (22 carat) prices in Delhi stand at ₹ 85,512/8 grams while pure gold (24 carat) prices stand at Rs 91,800/8 grams.
Gold Rate today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 85,104/8 grams while pure gold (24 carat) prices stand at ₹ 91,424/8 grams.
Gold Rate today in Chennai
Standard gold (22 carat) prices in Chennai stand at ₹ 84,320/8 grams while pure gold (24 carat) prices stand at Rs 90,592/8 grams.
Gold Rate today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at ₹ 84,568/8 grams while pure gold (24 carat) prices stand at Rs 90,864/8 grams.