- Gold and silver prices rose, gold hitting seven-week high.
- Softer US Treasury yields bolstered demand for safe-haven assets.
- MCX gold surged; silver gained briefly before paring advances.
Gold Silver Rate Today:Gold and silver prices advanced on Thursday, with the yellow metal climbing to its highest level in seven weeks as softer US Treasury yields strengthened demand for safe-haven assets. The gains came even as optimism over a possible US-Iran agreement raised expectations of easing geopolitical tensions in West Asia.
On the Multi Commodity Exchange (MCX), gold futures for October 5 delivery opened 0.36 per cent, or Rs 536, higher at Rs 1,49,029 per 10 grams. The contract later extended gains to touch an intraday high of Rs 1,49,700, up 0.81 per cent, or Rs 1,207, by 12:10 pm.
Silver also attracted buying interest during the early session. MCX September 4 futures climbed to an intraday high of Rs 2,28,397 per kg, gaining 0.35 per cent, or Rs 813, from the previous close of Rs 2,27,584. At the last count, however, silver had pared its gains and was trading at Rs 2,26,580, down 0.44 per cent, or Rs 1,004.
The positive trend was reflected in global markets as well. COMEX gold rose 0.36 per cent to $4,320 per ounce, while COMEX silver traded 0.12 per cent higher at $62.36 per ounce.
The rally came despite reports suggesting that the Strait of Hormuz could reopen and comments from US President Donald Trump indicating that Washington was seeking an agreement with Iran. According to market experts, hopes of easing tensions have raised expectations of lower crude oil prices, reducing inflation concerns and easing pressure on US Treasury yields, which in turn supported bullion prices.
For MCX gold, analysts see immediate resistance in the Rs 1,50,000-Rs 1,50,700 range, with the next target at Rs 1,52,200-Rs 1,52,800 if the breakout continues. Immediate support is placed between Rs 1,48,600 and Rs 1,48,000, followed by Rs 1,46,600-Rs 1,46,000.
They added that gold has moved decisively above its 20-, 50-, 100- and 200-day exponential moving averages (EMAs), signalling a strong improvement in near-term momentum after weeks of consolidation. Holding above Rs 1,49,000 could pave the way for a move towards Rs 1,50,000, while a fall below that level may indicate exhaustion following the recent rally.
For silver, analysts expect a sustained move above Rs 2,29,000 to open the door to the next resistance zone of Rs 2,31,500-Rs 2,32,500. Immediate support is seen at Rs 2,25,000-Rs 2,24,000, followed by Rs 2,22,000-Rs 2,21,000.
They noted that silver continues to trade above its 20-day and 200-day EMAs, while the Relative Strength Index (RSI) has improved to 54. However, a decisive close above the 50-day EMA is needed to confirm renewed strength. Analysts believe the outlook remains cautiously positive above Rs 2,28,000, with a move beyond Rs 2,30,000 likely to trigger fresh upside. A drop below Rs 2,27,000, however, could result in a pullback towards Rs 2,25,000.
Meanwhile, oil prices edged lower, with Brent crude declining 0.51 per cent to trade below $80 per barrel, while US West Texas Intermediate (WTI) crude slipped nearly 1 per cent to below $75 per barrel.
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Gold Rates Across Major Cities In India On August 6
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 14,986
22 Karat- 13,740
18 Karat- 11,245
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 15,000
22 Karat- 13,750
18 Karat- 11,565
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 14,973
22 Karat- 13,725
18 Karat- 11,230
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 14,973
22 Karat- 13,725
18 Karat- 11,230
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 14,973
22 Karat- 13,725
18 Karat- 11,230
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 14,973
22 Karat- 13,725
18 Karat- 11,230
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 14,973 | 13,725 | 11,230 |
| Gold Rate in Ahmedabad | 14,976 | 13,730 | 11,235 |
| Gold Rate in Indore | 14,976 | 13,730 | 11,235 |
| Gold Rate in Lucknow | 14,986 | 13,740 | 11,245 |
| Gold Rate in Coimbatore | 15,000 | 13,750 | 11,565 |
| Gold Rate in Bhubaneswar | 14,973 | 13,725 | 11,230 |
| Gold Rate in Mysore | 14,973 | 13,725 | 11,230 |
| Gold Rate in Kanpur | 14,986 | 13,740 | 11,245 |
| Gold Rate in Salem | 15,000 | 13,750 | 11,565 |
| Gold Rate in Visakhapatnam | 14,973 | 13,725 | 11,230 |
| Gold Rate in Vijayawada | 14,973 | 13,725 | 11,230 |
| Gold Rate in Patna | 14,976 | 13,730 | 11,235 |
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Silver Price Across Major Cities In India On August 5
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 240 per gram and Rs 240,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 250 | 250,000 |
| Silver Rate in Ahmedabad | 240 | 240,000 |
| Silver Rate in Indore | 240 | 240,000 |
| Silver Rate in Lucknow | 240 | 240,000 |
| Silver Rate in Coimbatore | 250 | 250,000 |
| Silver Rate in Bhubaneswar | 250 | 250,000 |
| Silver Rate in Mysore | 240 | 240,000 |
| Silver Rate in Kanpur | 240 | 240,000 |
| Silver Rate in Salem | 250 | 250,000 |
| Silver Rate in Visakhapatnam | 250 | 250,000 |
| Silver Rate in Vijayawada | 250 | 250,000 |
| Silver Rate in Patna | 240 | 240,000 |
