Gold rates today: Following the optimism surrounding the Russia-Ukraine peace deal, gold and silver rates today witnessed profit booking during Tuesday’s dealings. The gold rate today on the MCX for the February 2025 futures expiry slipped over ₹800 per 10 gm during Tuesday’s deals, when it hit an intraday low of ₹1,33,308 levels. However, the precious yellow metal witnessed some recovery and came around the ₹1,33,800 levels at around 2:35 PM. In the international market, the COMEX gold price slipped over $37 per ounce, reaching an intraday low of $4,298.65 per troy ounce. COMEX gold prices also witnessed some value buying at the lower levels and regained the psychological $ 4,300-per-ounce level.
The gold rate today has been sustaining above this level since then. Likewise, silver rates on MCX today witnessed intense selling pressure during early morning deals and touched an intraday low of ₹1,94,260 per kg, logging an intraday loss of around ₹3,650 per kg. However, the precious metal also witnessed a value buy.
According to experts, Gold and silver rates today came under selling pressure after reports indicated that Ukrainian President Volodymyr Zelenskyy was considering dropping Kyiv’s long-held ambition of joining NATO. This has sparked speculation about a Russia-Ukraine peace deal. However, they maintained that nothing official and concrete has come to light. Hence, we may see strong value buying at this dip, as triggers for the gold and silver price rally — weakness in the Indian and US Dollar, and a decline in treasury bond yields — are still in place.
Russia-Ukraine peace deal buzz
Speaking on the reason for the pause in the gold and silver price rally, Anuj Gupta, Director at Ya Wealth, said, “Silver and gold rates today are under pressure as the market is discounting the news reports of the Ukrainian President Volodymyr Zelenskyy’s indication to drop Kyiv’s long-held ambition of joining NATO. This has triggered peace deal buzz in the Russia-Ukraine war, started in February 2022, when Moscow launched a full-scale invasion of its neighbour. However, these are mere speculations as the Ukrainian President has declined to cede territory in favour of Russia. Therefore, it would be crucial to observe the Russian reaction. Until the Russian reaction to Zelensky’s offer, nothing can be concluded regarding the Russia-Ukraine peace deal.”
Is it the right time to buy gold in India?
Expecting a strong rebound in gold and silver prices, Anuj Gupta of Ya Wealth said, “This is an opportunity for investors who believe in buying on big dips. Triggers that have been fueling gold and silver prices remain in place, as both the Indian National Rupee (INR) and the US Dollar (USD) are trading under pressure. The bond yield is also trading in the red. Therefore, we may see strong value buying, and the gold price in India may soon touch ₹1,34,000 per 10 gm and ₹1,37,000 per 10 gm. On the lower side, the yellow metal has strong support placed at ₹1,35,250 per 10 gm levels. In the international market, gold rates today have support placed at $4,280 per ounce, whereas it is facing a hurdle at $4,400 per ounce.”
On the outlook of silver rates today, Anuj Gupta said, “In the international market, silver rate today has immediate support at $60 per ounce, while it has also established a crucial support level at $58 per ounce. On the upper side, silver prices are facing resistance at $64 level. On breaking above this level, we can expect silver rates to touch $67 per ounce levels soon.”
Speaking on the outlook of MCX silver rates today, Anuj Gupta added, “MCX silver rate today has immediate support placed at ₹1,93,000 levels, whereas it has made strong support at ₹1,90,000 per kg levels. On the upper side, silver rates today are facing a hurdle at the ₹2,00,000 per kg levels. On breaking above this resistance on a closing basis, we can expect the silver prices to touch ₹2,03,000 levels in the near-term.”
Gold vs silver: Which is better?
Rajkumar Subramanian, Head of Product & Family Office at PL Wealth, said, “While gold remains the primary hedge for Indian investors, silver is increasingly behaving like a leveraged play on both global growth and the energy transition. Its dual role as a monetary and industrial metal makes it particularly sensitive to shifts in interest rates, the dollar, and manufacturing demand. In the Indian context, silver is no longer just a tactical trade. With rising industrial usage and increasing retail participation through ETFs and digital platforms, silver is emerging as a strategic portfolio diversifier – offering higher volatility than gold but also higher upside during commodity upcycles. Silver’s strength is being driven not just by its role as a precious metal, but increasingly by its industrial relevance. From solar manufacturing and EVs to electronics, India’s clean-energy and manufacturing push is structurally raising silver demand, making it a hybrid asset that benefits from both economic growth and periods of global uncertainty.
USD vs INR movement holds key
Expecting a surprise after the dip in the Indian Rupee against the US Dollar, VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, “Further sharp weakness in rupee was not expected today since the November trade data has come better-than-expected. Covering of short positions may be a factor in today’s decline. Sustained FII selling is creating a vicious cycle that is pulling the rupee down. Normally, when the rupee declines, the RBI intervenes by selling dollars to stem the decline in the rupee’s value. However, recently, the RBI’s policy has been to allow the currency to decline. Low inflation in India (0.71% in November) is the reason for the central bank’s non-intervention. Rupee depreciation is not hurting the economy. India’s November trade deficit declining to $24.53 billion from $41.68 billion in October is positive for the rupee.”
Key Takeaways
- Market sentiment is significantly affected by geopolitical developments.
- Gold and silver can offer strategic diversification in investment portfolios.
- Current economic indicators, such as currency value and inflation, play a crucial role in precious metal pricing.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
