Gold Price Today: April 02, the Multi Commodity Exchange (MCX) witnessed a sharp decline in precious metals. At 09:30 AM Gold was trading at Rs 1,47,500 per 10 grams, registering a fall of Rs 2,604 (1.73%). Meanwhile, silver also remained under pressure on MCX, trading at Rs 2,31,200 per kilogram, down by Rs 12,301 (5.05%).
On the COMEX front, gold and silver prices also moved lower. At 09:30 AM (IST) Gold fell by 94.90 Dollar, down nearly 1.98%, to trade at 4,688.30 Dollar per ounce. Meanwhile, silver dropped sharply by 3.783 Dollar, declining around 4.97%, to reach 72.295 Dollar per ounce.
GOLD PRICE TODAY: MANOJ KUMAR JAIN EXPERT OPINION
Manoj Kumar Jain, in his latest market outlook, said:
“Gold and silver prices have shown volatility despite recent fluctuations in global markets. Expectations of easing geopolitical tensions between the U.S. and Iran have influenced sentiment, while the dollar index slipping below 100 and U.S. 10-year bond yields falling under 4.30% have provided intermittent support to precious metals.”
“Gold is currently trading near its key resistance level of 4,840 Dollar per troy ounce, while silver is also hovering close to 78 Dollar per ounce. We had earlier advised investors to book profits near these higher levels. Although volatility remains high, gold may hold support near 4,470 Dollar per ounce, while silver could maintain its key support around 64 Dollar per ounce on a weekly closing basis.”
Manoj Kumar Jain Outlook for Today (COMEX Gold & Silver)
On the COMEX front, gold is expected to find support in the range of 4,770–4,714 Dollar per troy ounce, while resistance is placed between 4,840 Dollar and 4,884 Dollar per troy ounce. Similarly, silver has support levels at 73.80–71.10 Dollar per troy ounce, with resistance seen in the range of 78.00–80.40 Dollar per troy ounce.
On the domestic front, MCX gold is likely to take support between Rs 1,52,200 and Rs 1,50,800, while resistance is positioned at Rs 1,54,800–Rs 1,56,000. Meanwhile, MCX silver is expected to have support in the range of Rs 2,40,000–Rs 2,34,400, with resistance levels at Rs 2,47,700–Rs 2,51,200.
Gold Price Today: FAQs
What caused the sharp decline in gold and silver prices today?
The decline in gold and silver is attributed to multiple factors: weak global demand, profit booking by investors, and pressure from economic indicators. Additionally, geopolitical uncertainty, fluctuations in the dollar index, and bond yields influenced market sentiment, keeping precious metals under pressure despite occasional support.
How have global events impacted precious metals today?
Geopolitical developments, especially easing tensions between the U.S. and Iran, created short-term optimism, but ongoing market uncertainty and weak economic signals kept prices under pressure. A weaker dollar and falling U.S. 10-year bond yields provided intermittent support, yet volatility persisted, affecting both gold and silver markets worldwide.
What are Manoj Kumar Jain’s expert views on trading today?
Manoj Kumar Jain highlighted that gold is trading near its resistance of 4,840 Dollar per ounce and silver near 78 Dollar. He advises investors to book profits at higher levels, remain cautious amid volatility, and monitor support levels at 4,470 Dollar for gold and 64 Dollar for silver on a weekly closing basis to manage risks effectively.
What are the key support and resistance levels for gold and silver today?
Gold is expected to find support at 4,770–4,714 Dollar per troy ounce and face resistance between 4,840–4,884 Dollar. Silver support ranges from 73.80–71.10 Dollar per troy ounce, with resistance at 78.00–80.40 Dollar. On the domestic front, MCX gold support lies at Rs 1,52,200–1,50,800 and resistance at Rs 1,54,800–1,56,000, while MCX silver support is Rs 2,40,000–2,34,400 with resistance at Rs 2,47,700–2,51,200.
5. What strategy should investors follow in today’s market?
Experts suggest investors exercise caution due to high volatility. Profit booking on price rallies is recommended, and fresh long positions at elevated levels should be avoided. Monitoring global cues, support/resistance levels, and economic indicators is crucial. Diversifying portfolios and taking a measured approach can help mitigate risks amid unpredictable market movements.
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