Discover why gold and silver prices are falling today, including key market trends, expert advice, and price levels to watch. Stay informed about MCX Gold and Silver rates in simple terms.
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Why Are Gold and Silver Prices Falling?
Gold and silver prices went down in India’s futures market on Thursday morning. This happened because the US dollar got stronger, and worries about trade wars and tensions between India and Pakistan eased. At around 12:10 PM, the MCX Gold June 5 contract was 0.88% lower, priced at ₹91,450 for 10 grams. In the previous trading session, it had already dropped by 1.5%, closing at ₹92,265 per 10 grams.
Silver prices also fell, with the July futures contract closing at ₹95,466 per kilogram, down by 1.34%.
What’s Causing the Price Drop?
Stronger US Dollar
The US dollar has been moving up and down, putting pressure on gold and silver prices. A stronger dollar makes precious metals more expensive for buyers using other currencies, which lowers demand.
Less Need for Safe-Haven Assets
Gold and silver are often seen as safe investments during uncertain times. However, recent progress in US-China trade talks and reduced tensions between India and Pakistan have made investors more interested in riskier options like stocks. This has reduced the demand for gold and silver.
US Economy and Interest Rates
The US economy is doing well, and inflation is stable. This has lowered expectations for the US Federal Reserve to cut interest rates soon, which is bad news for gold prices. Mary Daly, President of the Federal Reserve Bank of San Francisco, recently said the economy’s strength allows policymakers to wait and see how new policies affect businesses and households.
Gold and Silver Price Trends
Over the past week, MCX Gold prices have fallen by more than 3%. Manoj Kumar Jain from Prithvifinmart Commodity Research noted that gold and silver couldn’t hold onto their earlier gains and dropped again due to lower demand for safe-haven assets.
Expert Tips for Investors
Should You Buy Gold or Silver Now?
Experts suggest being cautious. Manoj Kumar Jain advises against taking new positions in gold or silver today due to expected price swings. These swings are linked to changes in the US dollar and upcoming global economic data.
Gold Silver Key Price Levels to Watch
- Gold (International Market):
- Support: $3,120–3,100 per troy ounce
- Resistance: $3,210–3,240 per troy ounce
- Silver (International Market):
- Support: $31.80–31.20 per troy ounce
- Resistance: $32.40–33.00 per troy ounce
- MCX Gold (India):
- Support: ₹90,770–91,000
- Resistance: ₹92,650–93,100
- MCX Silver (India):
- Support: ₹93,800–93,200
- Resistance: ₹96,000–96,650
What Should You Do?
If you’re thinking about investing in gold or silver, it’s best to wait for clearer market signals. Prices may remain unstable this week due to global economic updates and changes in the US dollar’s value. Keep an eye on the support and resistance levels mentioned above to make informed decisions.
✅ Disclaimer: Goldsilverreports.com provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
