Gold and Silver Markets See Significant Decline

Gold August futures on MCX have experienced a notable decrease, trading at Rs 96,168 per 10 grams, marking a reduction of Rs 304 or 0.32%. Over the past 15 days, gold prices have plummeted by Rs 3,200, signaling a volatile period for investors.

Silver September futures also started the day lower, with a slight decline of Rs 85 or 0.08% to Rs 1,07,900/kg, showing minimal movement over the last two weeks.

Market Reactions and Future Predictions

The recent downturn in precious metals is attributed to traders adjusting their positions ahead of the FOMC meeting minutes and concerns over Trump tariffs. Despite these challenges, experts like Manoj Kumar Jain suggest that the Chinese central bank's interest in gold could provide some market stability.

Key Trading Levels: For gold, support levels are at Rs 96,000-95,550 with resistance at Rs 96,850-97,200. Silver traders should watch for support at Rs 1,07,200-1,06,650 and resistance at Rs 1,08,850-1,09,500.

Strategic Investment Moves

Investors are advised to consider purchasing silver near Rs 1,07,400, with a stop loss at Rs 1,06,650, targeting Rs 1,08,800-1,09,400. The market's volatility underscores the importance of strategic planning and staying informed on global economic indicators.