gold news today in india 24 carat : April 25, 2025
A number of technical signs suggest a probable short-term correction, and analysts warn that a possible reversal may be imminent as the MCX gold rate hovers close to record highs.
In keeping with a global surge in bullion prices, gold prices on the Multi Commodity Exchange of India (MCX) recovered significantly on Thursday, rising by more than 1%. amid a sharp drop in the previous session, the rebound came amid a wave of bargain shopping. A number of technical signs suggest a probable short-term correction, and analysts warn that a possible reversal may be imminent as the MCX gold rate hovers close to record highs.
After falling below ₹95,000 in the previous session, MCX gold prices jumped above ₹96,000 on April 24. At the close,MCX gold was up ₹1,240,or 1.31%, at ₹95,962 per 10 grams. On the other hand,the price of MCX silver decreased 0.04% to 97.475 per kilogram.
Gold prices increased on Friday on the global market, setting the stage for a third straight week of increases. The price of spot gold increased by 0.2% to $3,354.29 per ounce. On Tuesday, the price of bullion reached a record high of $3,500.05.
At $3,365.90, US gold futures increased by 0.5%.
Will the Price of Gold Reverse?
Four important gold-based ratios that are indicating early indications of a turnaround were highlighted by Ajay Kedia, Director of Kedia Advisory. The ratios of gold to silver, gold to platinum, gold to crude oil, and gold to copper are among them.
“An early warning of possible market reversals is being signaled by the significant increase in gold’s comparative strength against important industrial commodities. In the past,all four measures have risen into technically overbought areas,which are indicative of turning points,according to Kedia.
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