The precious metal prices displayed a cautious movement on Tuesday, April 21, with both gold and silver reflecting slight declines in international spot markets while domestic rates remained elevated following recent gains.
Spot gold slipped 0.2 per cent to $4,807.91 per ounce in early Asian trade. US gold futures for June delivery held steady near $4,827.30. On the domestic front, the Multi Commodity Exchange (MCX) saw gold futures trading with mild weakness in previous sessions, though physical market prices in major cities continued to hover at high levels.
Silver prices also eased globally, with spot silver falling 0.6 per cent to $79.40 per ounce. In the Indian physical market, silver rates in Delhi had climbed sharply the previous day, rising Rs 4,300 to reach Rs 2,57,300 per kg (inclusive of all taxes), as reported by the All India Sarafa Association. This surge reflected fresh buying interest from retailers and stockists.
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For jewellery buyers, 22-carat and 24-carat gold rates in key cities like Delhi and Mumbai stayed firm in the recent range, with 24K gold trading around Rs 15,500–15,600 per 10 grams in several markets, while 22K variants were quoted proportionately lower. Silver per kg continued to command prices above Rs 2.5 lakh in physical transactions.
Earlier updates from The Times of India highlighted technical levels: MCX gold found support between Rs 1,49,200 and Rs 1,51,100 per 10 grams with resistance near Rs 1,53,800–1,55,000. For MCX silver, support was noted around Rs 2,34,400–2,40,000 per kg and resistance in the Rs 2,47,700–2,51,000 zone.
The gold has witnessed a significant year-on-year rise, climbing nearly 57 per cent from around Rs 97,000 per 10 grams last year to current levels near Rs 1,52,000. Silver has shown an even sharper surge of about 163 per cent in the same period.
Traders and investors are closely watching geopolitical developments and oil price movements for further direction in precious metals.
