Gold-Silver Rates Today: Gold Hits Two-Month Low; Silver Also Plummets. Gold Silver Rate Today: Gold fell to its lowest level in two months and silver also fell flat. – ..

Amidst increasing geopolitical tensions and economic uncertainties globally, there has been a huge fall in the prices of gold and silver in the international market. On Thursday, gold fell to its lowest level in two months in the international market, while silver prices also saw a big fall. The main reasons for this big fall are the new attacks by America on Iran and the strengthening of the dollar index, which has made investors restless.

Spot gold at two-month low, silver also fell by 1.7%

A big fall of 1.1% was recorded in the prices of spot gold (spot gold) in the international market on Thursday, after which gold slipped to $ 4,406.81 an ounce. This is the lowest level of gold in the last two months. Along with gold, silver has also lost its shine; Spot silver closed at $ 73.34 an ounce with a weakness of 1.7%.

Tension increased in Strait of Hormuz after American attacks

The biggest reason for this decline is the new dispute erupting in West Asia. The US military has carried out new airstrikes on a military base in Iran, according to a US official. This base was considered a major threat to the American military and merchant ships in the Strait of Hormuz. This attack has taken place at a time when US President Donald Trump completely rejected Iran’s claim that an agreement has been reached between the two countries to restore traffic on this strategic waterway. After these attacks, the prices of crude oil have increased, due to which the fear of rising inflation across the world has deepened.

Condition of strong dollar and other precious metals

The second major reason for the fall of gold and silver is the strengthening of the US dollar (Dollar Index). Due to the strengthening of the dollar, gold sold in dollars has become very expensive for buyers with currencies from other countries, which has affected its demand. If we talk about precious metals other than gold and silver:

• platinum: It fell 0.5% to $1,909.15 an ounce.

• Palladium: Weakened 0.7% to $1,381.64 an ounce.

Uneasiness increased in the market due to statements of Fed officials

The rising prices of crude oil have further increased the uncertainty regarding the interest rate policy of the US central bank ‘Federal Reserve’. Federal Reserve Governor Lisa Cook said the central bank should not make any changes to short-term interest rates for now, but she warned that new tariffs, the Iran conflict and AI investment are under increasing pressure and a rate increase is possible if necessary. At the same time, Fed official Philip Jefferson has described the current monetary policy as appropriate. Now the market is keeping an eye on the US Personal Consumption Expenditure (PCE) data to be released late this evening, which will clear the future trend of interest rates.

What are the important support and resistance levels for gold?

According to Ponmudi R, commodity expert and CEO of Enrich Money, gold on COMEX is currently trading in the range of $4,500 to $4,540. He has given some important gold levels for the coming days:

• Immediate Resistance (for bullishness): Immediate resistance for gold is $4,560–4,600. If prices sustain above this level, the market may see a big rally and prices may go up to $4,660–4,700.

• Immediate Support (for decline): Gold currently has strong support at $4,500–4,460 an ounce. If gold slips below this level in the international market, the fall may deepen and prices may fall to $4,400–4,350 levels.