Gold Prices Fall For Second Day; Check Bullion Rates In Your City On September 25 | Savings and Investments News

International Gold Prices Today

In the international market, US spot gold was at $3,737.01 per ounce, as of 0347 GMT. US gold futures for December delivery were unchanged at $3,767.90. The US dollar index fell 0.1%, making greenback-priced bullion less expensive for overseas buyers.

On Wednesday, San Francisco Federal Reserve Bank President Mary Daly said she “fully supported” the Fed’s decision to cut its policy rate last week and expects further reductions ahead.

“The move (gold’s rise) may reflect expectations that the Fed intends to run the U.S. economy hot as it rebalances its focus to the labour market,” said Ilya Spivak, head of global macro at Tastylive, according to Reuters.

“Initial support levels line up around $3,700 and $3,600. Breaking resistance at the latest high near $3,790 might expose $3,870-$3,875, followed by $4,000.” Investors are awaiting the personal consumption expenditures (PCE) price index report, the Fed’s preferred inflation measure, on Friday.

What Factors Affect Gold Prices In India?

International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.

Silver Price Prediction 2025: ‘Precious Metal May Hit Rs 1.5 Lakh In 12 Months’

Silver could climb to as high as Rs 1.5 lakh per kg in the next 12 months, buoyed by strong industrial demand, safe-haven buying, and a weaker dollar, according to a quarterly outlook by Motilal Oswal Financial Services (MOFSL).

The brokerage said silver has already delivered nearly 37% returns year-to-date on MCX, outpacing several other asset classes. Globally, it expects Comex silver futures to advance towards $45 per ounce initially and touch $50 per ounce in the next phase of the rally.

“After achieving our earlier targets, we continue to believe silver remains poised for further upside. We expect prices to gradually move towards Rs 1,35,000 per kg in six months and then Rs 1,50,000 per kg in 12 months on the domestic front, assuming the rupee trades around 88.5 against the US dollar,” the report said.