Gold price today: Gold rate declined on the MCX on Thursday, 25 June, morning, as the dollar index remained above the 101 mark amid rising expectations of US Federal Reserve monetary tightening.
MCX gold August futures were 0.37% down at ₹1,40,749 per 10 grams, while MCX silver July futures were 1.07% down at ₹2,10,801 per kg around 9:10 am.
Gold prices in the US hit a more-than-seven-month low on Wednesday and traded near that level on Thursday, as the dollar held firm.
As Reuters reported, US spot gold was down 0.4% at $3,985.89 per ounce, as of 0043 GMT, after hitting its lowest level since November 2025 on Wednesday.
U.S. gold futures for August delivery dropped to $3,979.27.
The dollar index rose to its more than a year high of 101.80 on Wednesday. It eased slightly in Thursday’s session, but stayed above the 101 mark, making greenback-denominated bullion expensive for buyers in overseas currencies and creating demand fatigue.
The dollar is rising as market chatter on the possibilities of rate hikes grows.
According to Reuters, the CME FedWatch Tool shows traders expect three rate hikes from the US Federal Reserve this year. They see a 67% chance of a September hike.
“Gold prices are under pressure, with spot gold slipping below the crucial $4,000 per troy ounce mark to its lowest level since November 2025. The decline was driven by a stronger U.S. dollar and expectations that the Federal Reserve could keep interest rates higher for longer after last week’s hawkish policy projections,” Ravi Singh, Chief Research Officer at Master Capital Services, noted.
“Markets are now awaiting the U.S. PCE inflation data, due on Thursday, for fresh policy cues, while renewed U.S.-Iran technical talks in Switzerland next week could further improve risk sentiment and limit safe-haven demand for gold,” said Singh.
Gold and silver prices: What should investors do?
Experts expect gold and silver prices to remain volatile in the near term, ahead of the U.S. macro data and amid volatility in the dollar index.
While the long-term outlook for the yellow metal is largely positive amid rising concerns about global economic growth, experts say investors should avoid bottom-fishing in precious metals at this juncture.
“We suggest avoiding bottom-fishing in the precious metals but suggest exiting short positions as the market is in an oversold zone,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.
Experts say short-term traders should keep key support and resistance levels of gold and silver prices in mind and trade accordingly.
Jain said MCX gold has support at ₹1,40,000 and ₹1,38,800 and resistance at ₹1,42,400 and ₹1,43,350, while silver has support at ₹2,09,100 and ₹2,05,000 and resistance at ₹2,16,600 and ₹2,21,000.
Singh of Master Capital Services noted that gold prices continue to trade well below the 21-day and 55-day EMAs, indicating a firmly bearish short-term trend.
The August contract also slipped below the ₹1,45,000 support level amid heavy selling pressure, further strengthening the negative outlook.
“As long as prices remain below ₹1,45,000, any pullback is likely to attract fresh selling interest. On the downside, the next major support is placed near ₹1,40,000, followed by ₹1,36,000 if weakness persists,” said Singh.
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Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
