Gold prices rise Rs 8,200/10g in 4 days; silver falls Rs 1,800/kg ahead of US inflation data. Buy, sell or hold?

Silver prices snapped a 3-day gaining streak, while gold rose for a fourth straight session on the MCX on Monday, supported by a weaker dollar, while investors turned their attention to key US inflation data and a speech by Federal Reserve Chair Kevin Warsh later this week.

In the domestic market, MCX silver futures for September 2026 delivery were down Rs 1,782 to Rs 2,44,815 per kg. Gold futures for October 2026 delivery rose by Rs 1,000 to Rs 1,63,434 per 10 grams. In the last four sessions, gold has risen nearly Rs 8,200/10 grams. Silver snapped a 3-day gaining streak.

The dollar remained near multi-month lows as markets reacted to the US Treasury's plan to buy back more long-term bonds. A weaker US dollar makes gold, which is priced in the greenback, cheaper for buyers holding other currencies.


Investors will closely track the July Personal Consumption Expenditures (PCE) price index data and Warsh's speech at the Jackson Hole symposium this week for fresh signals on the outlook for US interest rates.

On the geopolitical front, the US threatened Iran with what it described as "the greatest financial offensive ever marshalled" as it prepared to introduce economic sanctions targeting Iran's trade partners. Oil prices fell by more than $1 a barrel as investors booked profits ahead of the expected announcement.

Also read: Gold prices jump 7% to log best weekly gain in 8 months. Start of another yellow metal bull run?

Gold, silver international prices

Spot gold rose 0.5% to $4,627.42 per ounce after touching its highest level since May 15 earlier in the session. Prices had gained more than 5% last week. US gold futures edged 0.1% higher to $4,683.80.

Among other precious metals, spot silver fell 0.3% to $68.76 per ounce. Platinum declined 0.5% to $1,868.03, while palladium slipped 0.3% to $1,345.87.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart expects gold and silver prices to remain volatile this week amid fluctuations in crude oil prices and the dollar index, ahead of the Fed Chairman's speech. He said gold has support at $4,610-4,585 and resistance at $4,700-4,740 per troy ounce, while silver has support at $68.10-66.60 and resistance at $70.20-71.70 per troy ounce in today's session.

At MCX, Jain said gold has support at Rs 1,61,100-1,59,800 and resistance at Rs 1,63,600-1,64,850, while silver has support at Rs 2,44,000-2,41,200 and resistance at Rs 2,49,100-2,52,500.

He recommends buying gold around Rs 1,60,600-1,59,500, with a stop loss below Rs 1,57,700 and a target of Rs 1,63,600-1,64,850. He also recommends buying silver around Rs 2,44,000-2,41,000, with a stop loss below Rs 2,37,000 and a target of Rs 2,49,000-2,52,500.

Read more: Explained: Why South Korea bought gold after 13 years and what it means for yellow metal investors?

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,19,712/8 grams while pure gold (24 carat) prices stand at Rs 1,30,584/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,19,592/8 grams while pure gold (24 carat) prices stand at Rs 1,30,464/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,19,592/8 grams while pure gold (24 carat) prices stand at Rs 1,30,464/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,19,592/8 grams while pure gold (24carat) prices stand at Rs 1,30,464/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)