Gold, Silver Rate Today Live Updates: MCX Gold, MCX Silver prices rise as oil drops, Trump extends US-Iran ceasefire

Manoj Kumar Jain told ET that gold and silver are expected to witness continued price swings during the week, influenced by changes in the dollar index, trends in crude oil, and ongoing uncertainty surrounding a potential US-Iran peace agreement.

He highlighted that gold has a support zone between $4,681 and $4,640 per troy ounce, while resistance is likely in the $4,770 to $4,818 range. For silver, support is seen between $74.00 and $70.70, with resistance placed at $78.80 to $80.40 per troy ounce for the current session.

In the domestic market, he said gold on the MCX finds support in the Rs 1,50,500 to Rs 1,48,800 band, while resistance is expected between Rs 1,52,800 and Rs 1,54,200. Silver, meanwhile, has support levels between Rs 2,40,000 and Rs 2,36,600, with resistance in the Rs 2,48,000 to Rs 2,51,500 range.

Jain advised traders to maintain long positions in gold as long as prices hold above Rs 1,48,000 on a closing basis, suggesting profit booking in the Rs 1,54,000 to Rs 1,55,000 zone. He also recommended refraining from initiating fresh long positions in silver after it crossed the Rs 2,45,000 mark in the previous session.