Gold Rate Today: Gold jumps to 95,950/10 grams on safe-haven demand; silver gains Rs 2,125/kg

Gold prices rose sharply on Tuesday as concerns over U.S. President Donald Trump’s tariff plans boosted safe-haven demand, while investors awaited cues from the upcoming Federal Reserve policy meeting.

As of 10:05 am, June gold futures were trading at Rs 95,950 per 10 grams on the MCX, up by Rs 1,301 from the previous session's closing price. Meanwhile, June silver futures were at Rs 96,650 per kg, rising by Rs 2,125.

In global markets, Spot gold was up 1.4% at $3,380.92 an ounce, as of 0224 GMT, after hitting its highest level since April 22 earlier in the session.

Trump announced on Sunday a 100% tariff on movies produced overseas, but issued few details on just how such a levy would work.

On Monday, he said he intends to announce pharmaceutical tariffs within the next two weeks.

On the radar this week is the Fed's interest rate decision and Fed Chair Jerome Powell's comments due on Wednesday to get clues on the U.S. central bank's rate trajectory. The Fed has held its policy rate in the 4.25%-4.50% range since last December.

The Fed will doubtless leave interest rates unchanged, according to a Reuters report, which also mentioned that the meeting may be the last where the outcome is so cut and dry with Trump's tariffs casting a shadow of uncertainty over the economic outlook.

Among other metals, spot silver rose 1.5% to $32.99 an ounce, platinum climbed 1.3% to $971.24 and palladium advanced 0.5% to $945.75.

"Gold has support at $3335-3310 while resistance at $3382-3398. Silver has support at $32.65-32.40 while resistance is at $33.30-33.55. In INR gold has support at Rs 94,350-93,980 while resistance at Rs 95,350-95,790. Sliver has support at Rs 93,380-92,550 while resistance at Rs 95,350-95,950," said Rahul Kalantri, VP Commodities, Mehta Equities.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 58,176/8 grams while pure gold (24 carat) prices stand at Rs 62,008/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 56,848/8 grams while pure gold (24 carat) prices stand at Rs 60,552/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 57,056/8 grams while pure gold (24 carat) prices stand at Rs 60,800/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 56,760/8 grams while pure gold (24 carat) prices stand at Rs 60,552/8 grams.

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