Gold and Silver Futures Open with Varied Performances

Today, the MCX witnessed Gold June futures contracts opening at Rs 93,271/10 grams, marking a 0.68% increase, while Silver July futures began trading at Rs 94,145/kg, showing a slight rise of 0.09%.

Recent Trends: Gold prices have retreated from their peak, dropping by Rs 2,754/10 grams on MCX last week, influenced by optimism in US-China trade talks and a stronger dollar index.

Market Reactions to Global Economic Indicators

The previous trading session ended with mixed results for gold and silver, both domestically and internationally. Gold June futures closed at Rs 92,637 per 10 grams, up by 0.32%, whereas silver July futures dipped by 0.70% to Rs 94,064 per kilogram.

Looking Ahead: Analysts predict continued volatility in gold and silver prices, driven by fluctuations in the dollar index and upcoming U.S. Fed monetary policy meetings. Support levels for gold and silver are anticipated at $3,180 and $31.40 per troy ounce, respectively.