Gold, silver rates today: The precious yellow metal continued its relentless rally for the second consecutive week after witnessing a slight breather and zoomed to new record highs at the international and domestic markets. On the domestic front, the MCX gold rate surged to a new peak of ₹88,310 per 10 gm; on the global front, it climbed to a new peak of $3,004.90 per ounce. Year-to-date, gold prices have risen by around 14%, driven by multiple macroeconomic and geopolitical factors. In this bull trend in the bullion market, silver rates also witnessed sharp upside movement. MCX silver rate touched a new peak of ₹1,01,999 per kg on Friday and finally ended at ₹1,00,761.

Speaking on the rally in gold and silver rates today, Jateen Trivedi, VP Research Analyst—Comm—ty and Currency at LKP Securities, said, “Gold and silver posted weekly gains, supported by dollar weakness below 103.75 and softer-than-expected CPI data, which reinforced expectations of interest rate cuts in both the US and India. The positive momentum in gold and silver prices remains, but tariff discussions will keep volatility elevated. Any resolution on tariffs could trigger profit booking in gold and silver.”

Gold, silver rates today: Top 5 reasons for the rise

On the top five reasons fueling precious bullion metals, Sugandha Sachdeva, Founder of SS WealthStreet, said, “The recent surge in gold and silver prices can be attributed to several crucial developments: economic uncertainty, weakness in the US dollar, buzz about a US Fed rate cut, gold buying by central banks across the globe, and investors’ shift from equities to gold.”

On the top five reasons that are fueling gold and silver rates today, Sugandha Sachdeva listed the following five factors:

1] Economic uncertainty from US Tariff Policies: The US president’s fluctuating tariff decisions have raised global trade concerns, increasing gold’s appeal as a safe-haven asset.

2] US Fed rate cut expectations: Both CPI and PPI inflation readings came in lower than expected, reinforcing expectations that the US Fed could cut interest rates as early as June. The February Core CPI stood at 0.2%, below the market consensus of 0.3%, while the YoY CPI cooled to 2.8%, down from 3.0% a year ago.

3] Weakness in the US dollar: The US dollar index has fallen over 4% year-to-date, making gold more attractive to investors as an alternative asset.

4] Central Banks’ buying spree: Global central banks have been on a persistent gold-buying spree, purchasing over 1000 tonnes annually for the past three years, underscoring gold’s role as a strategic reserve asset. This trend accelerated after Western nations imposed financial sanctions on Russia, including freezing its central bank reserves for its invasion of Ukraine in 2022.

5] Investors’ shift from equities to gold: Global trade policy uncertainty has led to increased risk aversion, prompting investors to reallocate funds from equities to gold for its safe-haven appeal. Tariff uncertainty has amplified risks to global economic growth, and investors include gold as a strategic asset in their portfolios.

Gold price outlook

“For the coming week, market participants will keep an eye on the Fed, Bank of England, and Bank of Japan’s policy meetings alongside the key US retail sales data and dollar index movement. Beyond economic indicators, geopolitical developments will be key drivers of gold’s movement. Any escalation in the ongoing tariff war or new updates regarding the 30 days of the Russia- Ukraine ceasefire agreement could significantly influence gold’s appeal as a safe-haven asset,” Sugandha added.

Gold rate today: Important levels to watch

Asked about the key levels regarding gold prices in the domestic and international markets, Sugandha Sachdeva said, “On the technical front, gold has already surpassed the key $2,930 per ounce and ₹86,600 per 10 gm resistance levels, and we see it heading towards the $3,050 per ounce mark if prices manage to sustain above $3,000 per ounce and around ₹89,500 per 10 gm. However, profit-booking or exhaustion is likely near these levels, at least in the near term.”

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.