what is the price of 24 carat gold in india today :

what is the price of 24 carat gold in india today :

Today’s gold rate: compared to its closing price of ₹97,491,the MCX gold rate opened lower at ₹96,900 per 10 grams. Additionally,the price of MCX silver opened lower and was declining.

Amid rising tensions between India and Pakistan and ahead of the US Federal Reserve’s monetary policy later today, gold prices on the Multi Commodity Exchange of India (MCX) opened lower on Wednesday.

Also Read : what is the price of 24 carat gold in india today :

Compared to its previous close of 97,491,the MCX gold rate began lower at 96,900 per 10 grams. The price of MCX gold was down ₹841,or 0.86%, at ₹96,650 per 10 grams at 9:05 AM. In the previous session,gold prices increased by more than 3%.

At ₹96,450 per kg,the price of MCX silver also opened lower,down ₹251, or 0.26%.

After the Indian Armed Forces carried out precision strikes against terror infrastructure in Pakistan and Pakistan-occupied Kashmir (PoK) as part of “Operation Sindoor,”geopolitical tensions between India and Pakistan increased. The operation’s primary targets were up to nine terror sites,which were hit.

Gold prices fell on global markets as demand for safe-haven assets declined due to optimism over possible US-China trade negotiations.

The spot price of gold was $3,388.67 an ounce, down 1.2%. In the previous session,the metal had increased by almost 3%. At $3,397.70, US gold futures dropped 0.7%.

Since US officials expressed optimism that trade discussions would start this week in Switzerland,we anticipate a significant decline in the price of precious metals throughout the day session.However,Jigar Trivedi,Senior Research Analyst at Reliance Securities,said that the announcement of the negotiations follows only hours after US President Donald Trump stated he was not in a rush to sign trade agreements.

US Fed Policy Watched :
Investors are waiting for Fed Chair Jerome Powell’s remarks on inflation and interest rate decreases later in the day,as well as the US Federal Reserve’s monetary policy meeting.

When the US Fed wraps up a two-day meeting on Wednesday,Trivedi anticipates that interest rates will remain unchanged. Given the increased uncertainty around the economy and Trump’s tariffs,the central bank is anticipated to telegraph few quick changes to rates.

“The outlook is bearish for today,and the MCX Gold July price may drop to ₹96,500 per 10 grams,” Trivedi stated.

Rahul Kalantri,VP of Commodities at Mehta Equities,claims that the price of gold has resistance between $3,400 and 3,422 and support between $3,335 and 3,310. The resistance for silver is between $33.30 and 33.55,while the support is between $32.65 and 32.40.

Support for MCX gold is between 96,650 and 95,980,while resistance is between 97,950 and 98,390. According to Kalantri,silver has resistance between ₹97,350 and 97,950 and support between ₹95,580 and 94,750.

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