On the global front, gold and silver prices traded higher. At 09:00 AM (IST), COMEX Gold gained 16.20 Dollar, rising nearly 0.36%, to trade at 4,539.50 Dollar per ounce. Meanwhile, silver also moved higher by 0.846 Dollar (1.06%), reaching 77.005 Dollar per ounce.

GOLD PRICE TODAY: MANOJ KUMAR JAIN EXPERT OPINION

Manoj Kumar Jain, in his latest market outlook, said:
“Gold and silver prices witnessed strength amid hopes of a possible U.S.-Iran peace deal and profit booking in crude oil prices. The decline in crude oil prices has eased inflation concerns, which supported precious metals. Meanwhile, the U.S. 10-year bond yields slipping below 4.50% also provided support to bullion markets.”

“However, the market remains cautious ahead of the final agreement, and high volatility may continue in both gold and silver prices. If the U.S.-Iran peace deal is officially announced this week, it could act as a major positive trigger for precious metals. Gold may continue to hold its key support near 4,343 Dollar per troy ounce, while silver could maintain support around 69 Dollar per troy ounce.”

Manoj Kumar Jain Outlook for Today (COMEX Gold & Silver)

On the COMEX front, gold is expected to find support in the range of 4,522–4,484 Dollar per troy ounce, while resistance is placed between 4,610 Dollar and 4,640 Dollar per troy ounce. Similarly, silver has support levels at 76.60–74.00 Dollar per troy ounce, with resistance seen in the range of 80.40–82.80 Dollar per troy ounce.

In the domestic market, MCX gold is likely to take support between Rs 1,58,200 and Rs 1,57,700, while resistance is positioned at Rs 1,59,850–Rs 1,60,600. Meanwhile, MCX silver is expected to have support in the range of Rs 2,73,300–Rs 2,70,000, with resistance levels at Rs 2,80,000–Rs 2,83,350.

Manoj Kumar Jain has advised investors holding long positions in silver from previously recommended levels to maintain strict stop losses and consider profit booking near the target range. He also suggested buying gold in the range of Rs 1,58,500–Rs 1,57,700 with a stop loss below Rs 1,56,650 for targets of Rs 1,59,350–Rs 1,60,300.

FAQ’s

1. Why did gold and silver prices decline on MCX today?
Gold and silver prices on MCX witnessed weakness due to domestic profit booking and cautious investor sentiment. Traders remained watchful ahead of key global developments, while volatility in crude oil prices and fluctuations in the dollar index also impacted the domestic bullion market.

2. Why are COMEX gold and silver prices trading higher despite weakness in India?
International bullion markets gained support from hopes surrounding a potential U.S.-Iran peace deal, easing inflation concerns due to falling crude oil prices, and softer U.S. bond yields. These global factors helped COMEX gold and silver prices trade higher even as domestic markets remained under pressure.

3. What impact could the U.S.-Iran peace deal have on precious metals?
A successful U.S.-Iran peace agreement could significantly influence global commodity and financial markets. It may reduce geopolitical tensions, stabilize crude oil prices, and affect investor demand for safe-haven assets like gold and silver, leading to sharp price volatility in bullion markets.

4. What are the important support and resistance levels for gold and silver this week?
According to market expert Manoj Kumar Jain, COMEX Gold has support near 4,522–4,484 Dollar and resistance between 4,610–4,640 Dollar per troy ounce. Meanwhile, MCX Gold may find support around Rs 1,58,200–Rs 1,57,700, while silver support is seen near Rs 2,73,300–Rs 2,70,000.

5. What strategy should investors follow in the current bullion market?
Experts advise investors to remain cautious due to high market volatility. Traders holding existing long positions are advised to maintain strict stop losses and book profits near target levels. Fresh investors should follow a disciplined strategy and closely track global economic developments before taking major positions.

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