Gold and Silver Prices Today: Gold at Rs 1,00,200, silver at Rs 1,15,000; check out city-wise rates

1 hour ago 1

Gold prices rose for the third straight session on Thursday, supported by a weaker dollar, falling U.S. Treasury yields, and rising expectations of an interest rate cut by the U.S. Federal Reserve in September.

On the Multi Commodity Exchange (MCX), gold October futures climbed Rs 89 to Rs 1,00,274 per 10 grams, while silver September futures slipped Rs 29 or 0.03% to Rs 1,15,000 per kilogram.

Analyst view & trading ranges

Manoj Jain, Director and Head of Commodity and Currency Research at Prithvi Finmart, said both gold and silver gained amid weakness in the dollar index and a strong probability of Fed rate cuts in the September policy meeting.

On Wednesday, international markets settled higher, with gold December futures closing at $3,408.30 per troy ounce, up 0.27%, and silver September futures ending at $38.602 per troy ounce, up 1.58%. In domestic markets, gold October futures settled at Rs 1,00,185 per 10 grams with a gain of 0.03%, while silver September futures closed at Rs 1,15,029 per kilogram, up 1.14%.

Jain noted that prices are maintaining positive momentum following U.S. inflation data, with the U.S. job market showing signs of stress and inflation remaining at manageable levels. He added that market participants expect monetary easing from the Fed in both September and December.

Expected Price Ranges This Week:

Gold: $3,340–$3,540 per troy ounce

Silver: $36.80–$40.00 per troy ounce

Support & Resistance Levels (International):

Gold support at $3,389–$3,370; resistance at $3,434–$3,452

Silver support at $38.20–$37.84; resistance at $38.80–$39.15

Support & Resistance Levels (MCX):

Gold support at Rs 99,900–Rs 99,475; resistance at Rs 1,00,555–Rs 1,01,100

Silver support at Rs 1,14,400–Rs 1,13,650; resistance at Rs 1,15,800–Rs 1,16,650

Trading Strategy:

Jain suggests buying gold around Rs 1,00,100–Rs 99,850 with a stop loss at Rs 99,475 for targets of Rs 1,00,555–Rs 1,01,100. Silver can be bought on dips near Rs 1,14,000 with a stop loss at Rs 1,12,800 for a target of Rs 1,16,000.

Dollar Index & Rupee Movement

The dollar index fell to near two-week lows, settling at 97.625 with a loss of 0.28% on Wednesday, pressured by expectations of a Fed rate cut, lower U.S. 10-year bond yields, and gains in the pound sterling — which hit a four-week high against the dollar.

On the National Stock Exchange, the USD-INR August 26 futures contract closed at 87.5100, down 0.32%. The rupee recovered from earlier lows, aided by profit-taking in the dollar index, easing crude oil prices, gains in domestic equities, and softer U.S. bond yields. However, higher U.S. tariffs and strength in other major currencies may cap further gains.

Expected Dollar Index Range This Week: 95.80–100.40

Expected USD-INR Range This Week: 86.6000–88.8000

Global Market Cues

Spot gold rose 0.2% to $3,359.81 per ounce as of 0410 GMT, while U.S. gold futures for December delivery added 0.3% to $3,408.50. Market analyst Kyle Rodda of Capital.com said, “Markets are pricing in the chance that the Fed cuts 50 basis points in September. So the dollar’s weakening, gold’s going up as a result, yields are also down. The technical setup of gold looks really constructive.”

US consumer prices rose only marginally in July, strengthening expectations of a Fed rate cut next month. Traders see a September 17 cut as a near certainty, with around 6% odds of a 50-bps reduction, according to LSEG data.

Other Precious Metals:

Spot silver rose 0.1% to $38.56 per ounce

Platinum eased 0.2% to $1,337.12

Palladium gained 1.5% to $1,139.32

Investors now await key U.S. economic data, including the Producer Price Index, weekly jobless claims, and retail sales figures, for further cues on the Fed’s monetary policy path. Geopolitical tensions remain in focus, with Ukrainian President Volodymyr Zelenskiy cautioning U.S. President Donald Trump ahead of talks with Russian President Vladimir Putin.