Today’s gold rate (May 5, 2025): Gold prices increased on May 5, 2025, as investors watched the Federal Reserve’s major policy decision and the dollar’s decline.
Prices of Gold and Silver Today, May 2, 2025: On Monday, May 5, gold prices increased little as investors awaited news about the trade agreement between the United States and its trading partners and as the dollar declined. Investors are also anticipating the Federal Reserve’s policy announcement,which is anticipated later this week.
At around 9:55 a.m.,gold June futures on the Multi Commodity Exchange (MCX) saw gains of 0.49 percent,or Rs 453, at Rs 93,090 per 10 gm. Gold has now dropped more than 6% from its peak of Rs 99,358.
At Rs 93,130 a kilogram,silver futures for May saw a cut of 0.17 percent,or Rs 159.
Spot gold was up 0.44 percent at $3,255.1 an ounce on global markets. The price of US gold futures increased by 0.6% to $3,262.74 an ounce.
US President Donald Trump has called Jerome Powell “a total stiff,”called for the US Fed to lower interest rates,and stated that he will not remove Powell from his Fed Board chairmanship before his term ends in May 2026.
Spot silver,meanwhile,increased by 0.42 percent to $32.14 an ounce.
Amid expectations of a trade deal between the United States and China and a recovery in the dollar index, gold and silver fell sharply last week.
Prospects for the price of gold :
Gold and silver prices could continue to fluctuate this week due to the dollar index’s volatility and the US Fed’s monetary policy meetings,according to Manoj Jain, Commodity Expert-India Nivesh. Both gold and silver prices may test their support levels,which are $3,180 and $31.40 per troy ounce,respectively.
In today’s session, silver’s resistance is at $32.50-32.88 per troy ounce, while its support is at $31.84-31.40.
Gold/Silver Trading Strategy :
At MCX,silver has resistance at 94800-95500 and support at 93350-92500, while gold has resistance at 93040-93550 and support at 92150-91600. With a stop loss of 93720 and a target of 92200-91850,we advise selling gold on the climb between 93000 and 93300.
Important technical levels for the day :
Gold (MCX): Resistance: Rs 93,040–93,550 |Support: Rs 92,150–91,600
Silver (MCX): Resistance: Rs 94,800-95,500 |Support: Rs 93,350-92,500
Spot Gold: $3280-3300 per troy ounce is the resistance; $3233-3210 is the support.
Spot Silver: Resistance: $32.50-32.88 |Support: $31.84-31.40
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