Gold and Silver Market Update: May 2, 2025

Today, the gold market has shown a notable decrease, with June futures at MCX dropping by Rs 6,700 per 10 grams from their peak. This decline is attributed to positive developments in US-China trade talks and a strengthening dollar. Gold June futures opened 0.35% higher at Rs 92,665 per 10 grams, while silver July futures saw a 0.46% increase to Rs 95,168 per kg.

The previous trading session ended with both gold and silver prices lower in domestic and international markets. Gold June futures settled at Rs 92,339 per 10 grams, marking a 2.50% decline, and silver July futures closed at Rs 94,729 per kilogram, down by 1.24%.

Factors Influencing the Market

The precious metals market is experiencing volatility due to statements from U.S. President Donald Trump regarding potential trade agreements with India, South Korea, and Japan, alongside ongoing discussions with China. The dollar index's rise above the 100 level has also played a significant role in this trend.

Expert Predictions

According to Manoj Kumar Jain of Prithvifinmart Commodity Research, "Gold and silver prices are expected to remain volatile, with gold potentially holding its support level of $3,200 per troy ounce and silver at $31.40 per troy ounce levels on a weekly closing basis."