Today’s gold price: Experts point out important levels for MCX Gold as rates decline in response to negative global cues and dollar volatility.

Today’s gold price: The domestic futures market saw a decline in gold prices on April 4, with MCX Gold for June 5 contracts falling 0.59% to ₹89,524 per 10 kilos. Weak spot demand and dollar index volatility occurred at the same time as this decrease.

Today’s gold price: Due to poor spot demand and dollar index volatility, gold prices fell in the domestic futures market during the morning session of Friday, April 4. Around 9:40 AM, MCX Gold for June 5 contracts was down 0.59 percent at ₹89,524 per 10 grams.

Following the tariffs imposed by US President Donald Trump, gold prices fell internationally as well.

Trump announced a 10% baseline tariff on all US imports on April 2 in addition to retaliatory duties on more than 180 nations.

Because of increased uncertainty about the potential effects of tariff moves, Trump’s tariff statements caused a steep selloff in stocks and safe-haven gold. Silver prices hit a five-week low,and gold prices dropped to their lowest point in a week. The yields on 10-year bonds,the dollar index,and US stock markets all saw significant drops.

Also Read : Today’s gold rate: As Trump’s tariffs increase safe-haven bets, yellow metal reaches a new high of 91,423 per 10 grams.

Rahul Kalantri,VP of commodities at Mehta Equities, stated that “the general negative sentiment across financial markets exerted downward pressure on bullion, even though the President exempted precious metals from the new tariffs.”

Investors in bullion are juggling conflicting signals. On the one hand, demand for gold usually increases when the economy is shaky. Conversely, Trump’s proposed tariffs have increased concerns about inflation, which is another element that often drives up gold prices. The US Federal Reserve might not lower interest rates if inflation stays high, though, which would have a negative impact on gold prices.

Key levels for MCX Gold and Silver are highlighted by experts.
Gold has resistance at $3,112-3,135 and support at $3,072-3,040, according to Kalantri. Support for silver is between $31.28 and 31.00,while resistance is between $32.00 and 32.22.

Support for gold in INR is between 89,960 and 89,350,while resistance is between 90,710-90,990. According to Kalantri, silver has resistance at ₹95,200-95,950 and support at ₹93,600-92,550.

Given the volatility in the dollar index and the ongoing global trade war,Manoj Kumar Jain of Prithvifinmart Commodity Research anticipates that the price of gold and silver will continue to fluctuate this week.

He advises against starting new positions until the markets have stabilized a bit.

“Gold has support at $3,088-3,044, while resistance at $3,145-3,177 per troy ounce and silver has support at $31.40-30.88, while resistance is at $32.40-33.00 per troy ounce in today’s session,” Jain stated.

“MCX Gold has support at ₹89,360-88,800 and resistance at ₹90,700-91,200, while silver has support at ₹93,150-91,800 and resistance at ₹95,200-96,600,” Jain stated.

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