Gold and silver costs posted sturdy features on Friday, amid rise within the US-Iran tensions and marginal decline in US greenback.
MCX gold April futures gained 0.43 per cent to Rs 1,60,399 per 10 grams round 12.30 am on an intra-day foundation. Meanwhile, MCX silver March futures gained 3.05 per cent to Rs 2,67,600 per kg.
The US-Iran nuclear negotiations had been prolonged with none clear progress, holding geopolitical tensions elevated. The buildup of US troops led to each international locations exchanging warnings. Meanwhile, Washington constructed stress on Iran with contemporary sanctions associated to grease and weapons exports, elevating protected haven demand for treasured metals.
The greenback index eased 0.04 per cent to 97.76, making greenback-backed bullion cheaper for consumers in abroad currencies. However, the marginal ease got here after vital features that took the foreign money to four-week highs, capping features within the yellow metallic.
Further, expectations of imminent rate of interest cuts within the US light amid indicators of resilience within the US economic system.
Meanwhile, the capital markets regulator, the Securities and Exchange Board of India (SEBI), modified the framework for mutual funds to worth bodily gold and silver held of their exchange-traded funds (ETFs).
The transfer goals to align pricing with home market circumstances, enhance transparency, and standardise valuation practices throughout fund homes. The revised norms will come into impact from April 1, 2026.
MCX Gold futures are consolidating inside the Rs 1,55,000–Rs 1,65,000 vary after correcting from report highs close to Rs 1,80,000–Rs 1,81,000, an analyst mentioned, including that the broader uptrend of yellow metallic stays structurally intact, with the present sideways motion indicating a wholesome pause reasonably than reversal.
Key structural assist for MCX Silver is positioned at Rs 2,25,000–Rs 2,35,000 ranges and A sustained maintain above this zone might pave the best way towards Rs 3,00,000–Rs 3,25,000 within the medium time period, he added.
