Gold Silver Price Today: Gold rose by Rs 3,300 in a week, silver also gained momentum, should buy or wait now?

Business Desk – Gold Silver Price Today: There has been a strong recovery in the prices of gold and silver in the last one week. After continuous decline, the rise in both the precious metals has again increased the confidence of investors. According to Multi Commodity Exchange (MCX) data, between July 17 and July 23, the price of gold increased by about Rs 3,300 per 10 grams, while the price of silver increased by about Rs 6,000 per kg. In such a situation, the question in the minds of investors is whether a new rise in gold and silver has started now or there is still a need to be careful in investing.

What is the price of gold today?

Slight differences were seen in the prices of gold in different cities of the country on July 25. In Delhi and Jaipur, 22 carat gold is trading at Rs 1,32,440 per 10 grams and 24 carat gold is trading at Rs 1,44,470 per 10 grams. In Mumbai, Chennai, Kolkata and Hyderabad, the price of 22 carat gold is Rs 1,32,290 and the price of 24 carat gold is Rs 1,44,320 per 10 grams. In Ahmedabad and Bhopal, 22 carat gold is being sold at Rs 1,32,340 and 24 carat gold is being sold at Rs 1,44,370 per 10 grams. At the same time, prices in Lucknow and Chandigarh also remain at par with Delhi.

What is the latest rate of silver?

Along with gold, investors are also keeping an eye on the prices of silver. On the morning of July 25, silver is trading at Rs 2,34,900 per kg in the domestic market. According to Reuters, spot silver has reached $ 58.11 per ounce in the international market. Apart from this, the price of platinum was recorded at $ 1,587.17 per ounce.

How much did prices increase in a week?

According to MCX, the price of gold on July 17 was Rs 1,40,792 per 10 grams, which increased to Rs 1,44,089 by July 23. That means there was an increase of about Rs 3,300 in just one week.

During the same period, the price of silver increased from Rs 2,15,936 per kg to Rs 2,22,834 per kg. However, on July 23, slight profit booking was also seen in both the metals.

Why did gold and silver rise?

According to Vedika Narvekar, research analyst at Anand Rathi Share and Stock Brokers, there are many reasons behind the recent rise. He said that US President Donald Trump’s proposed tariffs, continuous purchases of gold by central banks around the world and dip buying by investors after the recent fall have strengthened the market.

According to him, this rise is not a sign of a major change in the market trend at present, rather the impact of purchases after the decline is more.

Investors’ confidence returned through dip buying

Commodities Analyst Manav Modi of Motilal Oswal Financial Services says that there is pressure on interest rates, but despite this, investors took advantage of the fall and bought gold.

He said that increasing investment in gold ETFs, ongoing geopolitical tension in the Middle East and high valuations of the stock market have also supported the prices of gold and silver.

What should investors do now?

Vedika Narvekar says that investors who have already invested in gold or silver should not sell their holdings due to minor fluctuations in the market. At present, hold strategy is considered better for long term investors.

If a new investor wants to invest in gold or silver, he should avoid investing the entire amount at once. Experts believe that investing in a phased manner (SIP or instalments) keeps the average purchase price better and also reduces the risk of investing at a higher level.

What things will the market keep an eye on?

Experts say that in the coming days, the tension in the Middle East, crude oil prices and the next meeting of the US Federal Reserve will decide the direction of gold and silver. If any major decision is taken regarding interest rates, its impact can be directly visible on the prices of precious metals.

Experts told important levels

According to Prithviraj Kothari, managing director of Riddhisiddhi Bullions, $4,000 and $4,200 are important levels for gold in the international market. Whereas for silver, $55 and $63 are considered important levels.

According to Vedika Narvekar in the domestic market, the main resistance levels for gold on MCX are Rs 1,47,400 and Rs 1,52,000 per 10 grams. Whereas Rs 1,39,000 and Rs 1,36,000 per 10 grams are considered strong support levels.

Should you buy now?

Market experts are of the opinion that in view of the recent recovery, one should avoid making big investments in a hurry. Investors who already hold gold or silver can maintain investments with a long-term perspective. At the same time, the safest strategy for new investors is considered to be investing in installments.

This will reduce the risk of market fluctuations and will also provide an opportunity to invest at a better average price. In the coming days, global developments and economic decisions will decide whether this bullishness of gold and silver gets further strengthened or whether we see pressure in the market again.