Gold Prices Feel The Heat (April 7), Check 22K & 24K Rates Per Gram In Cities

24K & 22K Gold Price Today: Gold prices slipped on Tuesday, even as both gold and silver witnessed sharp intraday swings amid heightened geopolitical tensions linked to recent remarks by US President Donald Trump on Iran.

On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery were trading at Rs 1,50,228, up Rs 247 or 0.16 per cent at 11:35 am. However, earlier in the session, the yellow metal had declined 0.23 per cent, or Rs 356, to Rs 1,49,625 before recovering. It later touched an intraday high of Rs 1,50,474, up Rs 493 or 0.32 per cent.

Silver prices also remained volatile. MCX silver futures for May 5 delivery were trading 0.48 per cent, or Rs 1,121, higher at Rs 2,34,500. During the session, silver rose nearly 1 per cent to an intraday high of Rs 2,35,547, after earlier falling 0.67 per cent to Rs 2,31,800.

Analysts noted that despite rising geopolitical tensions, precious metals have not displayed strong safe-haven demand, leading to choppy price action.

From a technical perspective, MCX silver is hovering in the Rs 2,31,000-Rs 2,33,000 range, with resistance placed at Rs 2,33,000-Rs 2,34,000. A breakout above this band could push prices higher, while a drop below Rs 2,30,000 may accelerate the downside.

In global markets, bullion traded largely flat. COMEX gold was at $4,681.34, down $3.36 or 0.07 per cent, while COMEX silver edged up $0.09 to $72.94 per ounce. Spot gold stood at $4,653, marginally higher by $3, while spot silver slipped slightly to $72.78.

The volatility comes amid uncertainty surrounding a US deadline for Iran to reopen the Strait of Hormuz. Iran has reportedly resisted the pressure, while Trump warned of strong action if a deal is not reached.

Meanwhile, crude oil prices surged, adding to global market jitters. Brent crude rose 1.69 per cent to $111.63 per barrel, while US WTI crude jumped over 3 per cent to $116.56.

Traders noted that Gold Rates in India  slipped, with Gold prices in Delhi and other key metros reflecting the latest downfall.

Gold Rates Across Major Cities In India On April 7