Gold and silver prices are down today, but Comex gold remains above $2,900, while silver is holding above $33 per ounce. In a major shift in U.S. digital asset policy, President Donald Trump signed an executive order on Thursday establishing a Strategic Bitcoin Reserve. The initiative will be funded exclusively with bitcoin seized from criminal and civil forfeiture cases, ensuring no financial burden on taxpayers, according to White House Crypto and AI Czar David Sacks.
Estimates suggest the U.S. government controls around 200,000 bitcoin, though a full audit has never been conducted. This move marks a significant step toward integrating digital assets into national financial strategy.
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U.S. Pauses Some Tariffs on Canadian and Mexican Imports Until April 2
The U.S. has temporarily halted certain tariffs on imports from Canada and Mexico until April 2, offering a brief reprieve in ongoing trade tensions. However, uncertainty remains as Trump’s broader tariff policies continue to impact global markets.
Gold and Silver Prices Hold Firm Amid ECB Rate Cut and Dollar Weakness
On Thursday, gold and silver prices ended slightly positive in international markets as investors awaited the U.S. non-farm payroll data.
- Gold (April Futures): $2,926.60 per troy ounce (+0.02%)
- Silver (May Futures): $33.338 per troy ounce (+0.62%)
- Gold (Domestic – April Futures): ₹86,034 per 10 grams (+0.23%)
- Silver (Domestic – May Futures): ₹98,141 per kg (+0.61%)
The European Central Bank (ECB) cut interest rates by 25 basis points to 2.65%, weakening the dollar index to a 5-month low, which helped support gold and silver prices. Additionally, concerns over U.S. trade tariffs boosted safe-haven demand for precious metals.
However, a drop in U.S. jobless claims to 221,000 (from an expected 234,000) and a rebound in U.S. 10-year bond yields above 4.25% limited further gains in gold and silver.
Market Outlook & Key Levels
According to Manoj Kumar Jain, Director at Prithvi Finmart, gold and silver could remain volatile due to fluctuations in the dollar index, ongoing trade tensions, and U.S. job data releases.
- Gold Support: $2,908–$2,892 | Resistance: $2,940–$2,955 per troy ounce
- Silver Support: $33.00–$32.80 | Resistance: $33.74–$34.00 per troy ounce
- MCX Gold: Support: ₹85,770–₹85,440 | Resistance: ₹86,360–₹86,720
- MCX Silver: Support: ₹97,400–₹96,650 | Resistance: ₹98,850–₹99,700
Jain suggests buying silver around ₹97,500 with a stop-loss at ₹96,850 and a target of ₹98,800.
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here
