Tuesday, May 20, 2025
Gold Silver Price Today : saw a marginal dip as Gold June futures on the Multi Commodity Exchange (MCX) opened lower at Rs 92,965 per 10 grams, registering a decline of Rs 332 or 0.36%. Similarly, silver July futures fell by Rs 281 or 0.29%, starting the day at Rs 95,172 per kilogram.
This marks a notable correction, with gold having declined by Rs 6,513 from its recent all-time high of Rs 99,358 per 10 grams. Despite recent volatility, the broader market trend for precious metals remains relatively stable.
International Market Trends
In the global market, early Monday trading witnessed gold and silver touching key resistance levels following Moody’s downgrade of the U.S. credit rating from ‘Aaa’ to ‘Aa1’. However, optimism surrounding potential peace talks between Russia and Ukraine led to a pullback in demand for traditional safe-haven assets. As a result, gold prices slipped below $3,320 per ounce, while silver dropped below $32.20 per ounce.
The global rally faded, but both metals managed to close Monday’s session on a positive note. Domestically, Gold June futures settled at Rs 93,297 per 10 grams, up 0.93%, and Silver July futures ended at Rs 95,453 per kg, gaining 0.14%.
Impact of U.S. Dollar Movement
The U.S. Dollar Index (DXY), which was trading around 100.36, showed a slight dip of 0.07%, providing short-term support to gold and silver prices. A weakening dollar typically boosts the appeal of commodities priced in dollars.
Expert View: Volatility Ahead
According to Manoj Kumar Jain, Head of Commodity Research at Prithvifinmart, ongoing geopolitical developments and a fluctuating dollar index could drive price swings in precious metals this week. He predicts gold will likely remain above $3,120 per ounce, while silver should hold firm at $31.40 per ounce.
Jain provided the following MCX levels for traders:
- Gold support: Rs 92,750–92,200
- Gold resistance: Rs 93,850–94,400
- Silver support: Rs 94,800–94,000
- Silver resistance: Rs 96,000–96,650
He recommends buying silver near Rs 94,800, with a stop loss at Rs 94,150 and a target of Rs 96,100 for short-term gains.
Conclusion
With geopolitical developments and U.S. economic signals impacting investor sentiment, gold price today reflects both global uncertainty and safe-haven demand. Traders are advised to monitor support and resistance levels closely and adopt a cautious approach amid ongoing volatility.
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