what is the price of gold today : May 13, 2025

what is the price of gold today : May 13, 2025

Gold rate today: The US-China trade agreement lifted investor mood for stocks, which decreased demand for gold, therefore gold prices didn’t change much. Following a prior decline, MCX Gold June contracts increased marginally to ₹92,955 per 10 kilos. International prices dropped as well, hitting a low of one week.

Current gold rate: Due to the US-China trade pact, which increased investor risk appetite for stocks and decreased demand for safe-haven gold, gold prices were drab on Tuesday morning in the local futures market. After plunging over 4% to ₹92,901 per 10 kilos, MCX Gold June 5 contracts were up 0.06 percent at ₹92,955 per 10 grams.

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

On Monday, global gold prices fell more than a week, and on Tuesday, they were trading close to that level.

Following the US and China’s trade agreement, which drastically reduced tariffs on one another and improved market mood, gold prices declined.

Following two days of negotiations in Geneva, Switzerland, officials from the two largest economies in the world announced tariff reductions for the next ninety days. China lowered taxes on US imports to 10% from 125%, while the US lowered tariffs on Chinese imports to 30% from 145%.

The US-China trade agreement has considerably reduced trade war anxiety following the US-UK trade agreement.

Key to gold prices, the ‘uncertainty’ issue on the global front is already fast diminishing.

In addition to the US-China trade agreement, gold prices were impacted by the de-escalation of tensions between India and Pakistan.

“Amid a trade agreement between the United States and China in Switzerland, gold and silver saw a significant selloff at the beginning of the new week. The announcement of trade agreements caused a spike in the US bond yields and the dollar index. Manoj Kumar Jain of Prithvifinmart Commodity Research noted that the weekend Indo-Pak ceasefire also makes it easier to purchase precious metals in a safe haven.

Expectations on the US Federal Reserve’s interest rate trajectory will be influenced by the US Consumer Price Index report,which is anticipated later today.Tuesday is also when India’s CPI data is due.

What should investors do with gold and silver?
Due to geopolitical concerns and the dollar index’s volatility,Jain anticipates that the price of gold and silver will continue to fluctuate this week.

He advises staying away from gold for a few days and purchasing silver during drops.

“We suggest buying silver on dips and staying away from gold for some trading sessions,”Jain stated.

According to him,silver has support around $32.30-32.00 and resistance at $32.94-33.30 per troy ounce in today’s session,while gold has support at $3,200-3,180 and resistance at $3,250-3,274 per troy ounce.

According to Jain,MCX Gold has resistance around 93,360-94,000 and support at 92,400-91,770,while silver has resistance at 96,650-96,650 and support at 94,400-93,650.

Gold has support between $3,200 and $3,178 and resistance between $3,255 and $3,270,according to Rahul Kalantri,vice president of commodities at Mehta Equities. The resistance for silver is at $32.90-33.20, while the support is at $32.30-32.00.

In the Indian rupee, Kalantri finds resistance at 93,350-93,790 and support for gold at 92,250-91,780. The resistance for silver is between ₹95,950 and 96,750, while the support is between ₹94,380 and 93,550.

Disclaimer: The sole intention of this story is education. The opinions and suggestions expressed above are not those of bharatbulletin24x7.com, but rather those of individual analysts or broking firms. Since situations can change and market conditions can change quickly, we suggest clients to consult with qualified specialists before making any investment decisions.