Silver rally is primarily being driven by risk sentiments as expectations of rate cuts buoy the risk assets. Another supporting factor is healthy ETF inflows.
President Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced within the next week or so. Tariffs of pharmaceuticals could be as high as 250 per cent.
Gold/Silver ratio at 89.96 has recovered nearly 5 per cent after it reached a seven-month low at 85.88 on July 14.
Considering the US GDP data, weekly job report, hot PCE report and calm in the wider markets despite tariffs, gold is susceptible to further decline in the near-term, says Praveen Singh of Mirae Asset
MCX initially said trading would resume at 9:45 AM, but later delayed it to 10:10 AM due as trading in the platform had not resumed
Gold price outlook: The yellow metal price is likely to be influenced primarily by the US Dollar Index and tariff news flow
Gold is likely to range-trade unless and until major breakthroughs in trade deals happen, or tariff tensions are ratcheted up further
Silver price today: At the time of writing this article, spot silver was changing hands at $36.42, down around 1 per cent on the day
Gold rate outlook: At the time of writing this report, both spot gold and the MCX August gold contract were down by 1 per cent on the day. The spot gold was hovering around $3,295
Silver price outlook: On July 3, spot silver traded between $36.34 and $37.07. At the time of writing, the gray metal was trading at 36.85, up around 0.82 per cent on the day
Gold, silver prices outlook 2025: While analysts suggest investors, looking to buy gold, to stay on the sidelines, they advise investors to buy silver on dips
Silver price outlook: The white metal at $36.69 was up around 1.1 per cent on the day as the US Dollar Index slumped for the fifth straight day amid healthy risk appetite
Indian Rupee today: The domestic currency depreciated 23 paise to end at 86.47 against the dollar, according to Bloomberg
Indian Rupee today: The domestic currency rose 5 paise to open at 86.01 against the dollar, after closing at 86.06 on Monday
Silver price outlook: On June 10, the white metal closed with a loss of 0.40 per cent at $36.59 as investors waited for US-China trade talk outcome
Indian Rupee today: The domestic currency appreciated 1 paise to end at 85.62 against the greenback, after closing at 85.63 on Monday
Indian Rupee today: The domestic currency appreciated 10 paise to close at 85.80 against the dollar, after closing at 85.90 on Wednesday, according to Bloomberg
Silver price outlook: The white metal consolidated its gains on June 3 as the US dollar index strengthened
Gold outlook: Spot gold is likely to range trade ahead of the US ISM services and nonfarm payroll reports
Oil prices: A meaningful upside in oil prices seems limited as the recent rally has been driven more by geopolitical risks than by fundamental demand