• Source:JND

Gold Rate Today: Gold price dropped significantly during the intraday trade on Monday in the domestic futures market amid a decent uptick in crude prices, which weighed on bullion sentiment. The domestic equity market also trades sharply lower in the absence of a fresh trigger due to uncertainty around the US-Iran 60-day ceasefire.

Meanwhile, Silver rates trade a bit higher.

MCX Gold Rates 

Gold futures, August expiry, traded lower by Rs 1,084, or 0.67 per cent, at Rs 1,59,827 per 10 grams on Multi Commodity Exchange (MCX) amid weak spot demand.

“Gold prices traded weaker as a sharp 4% rise in crude oil prices increased inflation concerns and weighed on bullion sentiment. MCX Gold declined around 0.92 per cent towards Rs 159500, while COMEX gold slipped nearly 0.80% to the $4500 zone. The market is now closely watching upcoming US Non-Farm Payrolls and unemployment data, which could be the next major trigger for gold and broader commodity markets," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

In the international market, gold futures declined by 0.39 per cent to USD 4,522.52 per ounce in New York.

Silver

Silver futures prices, July expiry, rose 0.19 per cent to Rs 2.67 lakh per kg in the futures trade on the Multi-Commodity Exchange. In the international market, COMEX silver futures rose 0.77 per cent to US$75.87 per ounce.

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Rupee Trades Stronger

The Indian currency--Rupee-- traded slightly stronger near 94.99, gaining around 11 paise or 0.12 per cent. According to analysts, the expectations of continued RBI support helped stabilise the currency after the 97.00 zone acted as a major support area.

"While the broader trend remains sensitive to crude prices and capital flows, market participants believe RBI measures could limit excessive depreciation in the near term. Rupee is expected to trade within a range of 94.50–95.50, with focus shifting to this week’s key US data, including Non-Farm Payrolls and unemployment figures, which will influence dollar direction and global currency sentiment," Jateen Trivedi noted.


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