)
Praveen Singh is an associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Praveen Singh is an associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Gold/Silver ratio above 100 poses a risk to silver prices as it indicates troubles with the global economy. The ratio may rise to 110-112 in the coming weeks
Interim support is at $29 (Rs 86,000). Resistance is at $30.90 (Rs 91,600) /$31.43 (Rs 93,200)
Support is at $2947 (MCX June contract ₹86,300) /$2900 (₹85,000). Resistance is at $3050 (₹89,300)/$3100 (₹90,800)
Silver has been subjected to intense selling pressure due to its industrial attribute. Nearly 64 per cent of the total demand for the metal is industrial, says Praveen Singh of Mirae Asset Sharekhan
Considering the facts that US equities fell 4-6% in the wake of tariffs and some of the commodities like silver and crude oil slumped 6-7%, gold fared much, says Praveen Singh of Mirae Asset Sharekhan
Gold rallied 19 per cent in the first quarter as it was up around 2 per cent last week-its fourth straight weekly gain.
Silver prices rose nearly 18 per cent in Q1 2025 as the it rallied around 3 per cent last week.
Buoyed by safe haven demand, as gold hit a fresh record high of $3,059 on Trump's auto tariffs, and a weaker dollar, spot silver reached a fresh cycle high of $34.40 on March 27
On March 27, spot gold rose to a fresh record high of $3,059 on safe haven demand coming on US imposing auto tariffs. A weaker dollar also boosted the yellow metal
Spot gold was trading at $3,039, down around 0.25 per cent on the day, at the time of writing. The MCX Gold April contract at ₹88,700 was up around 0.1 per cent
The MCX May silver contract at ₹99,381 was down around 0.5 per cent. Silver reached $34.23, its cycle high on March 18, before giving back some of its gains
Gold Rate Today: FOMC rate decision, due tonight, will be crucial for commodities. The Fed is expected to keep the overnight Fed Fund rates unchanged at 4.25 per cent-4.50 per cent with a hawkish tilt
Silver Rate Today, March 19: There may be some profit booking ahead of the US FOMC policy decision as the Central Bank may opt for a hawkish pause
Gold Rate Today: Dip buying in Gold is the preferred trade as the yellow metal is expected to reach $3,000 in the coming weeks.
Silver Rate Today: Weakening of the US Dollar, economic and political concerns globally, and huge fiscal stimulus in China and Europe are positive for Silver prices
Gold rate today: Buy Gold on dips. Gold support is at $2900 (MCX April gold contract Rs 85,600)/ $2868 (Rs 84,700)
Silver price today: Dip buying around $31.50 is preferred over chasing the rally. Support is at $31.27
Weaker dollar, geopolitical concerns over Ukraine peace process, economic and political concerns due to Trump's tariff plans and softer yields are positive for the metal
Silver may decline a bit, though downside is likely to be limited
Silver is expected to push higher should gold rise to record highs. The grey metal is up around 15 per cent this year