Gold & Silver Prices Today, 13 May 2025: Gold at Rs 93,011/10g, Silver at Rs 96,500/kg

Gold & Silver Prices Today, 13 May 2025: Gold and silver prices remained volatile on Tuesday, reflecting shifting global risk sentiment following a major breakthrough in US-China trade relations and easing geopolitical tensions.

On the Multi Commodity Exchange (MCX), gold futures for June delivery edged up marginally by 0.01 per cent, or Rs 9, to settle at Rs 93,011 per 10 grams. Meanwhile, silver futures for May delivery surged by 1.15 per cent, or Rs 1,093, to close at Rs 96,500 per kilogram.

Despite the modest gains on MCX, gold continued to hover near its lowest level in over a week in international markets. Spot gold remained steady at $3,230.99 an ounce by 0309 GMT after a sharp 2.7 per cent drop in the previous session. US gold futures were up slightly at $3,235.20.

The pullback in gold came after the United States and China reached a temporary agreement to reduce tariffs on each other, triggering a rally in global equity markets and dampening demand for safe-haven assets. Under the agreement, US tariffs on Chinese goods were reduced from 145 per cent to 30 per cent, while China slashed duties on American imports from 125 per cent to 10 per cent, effective for 90 days.

"The easing of trade tensions between the world’s two largest economies has buoyed investor sentiment and reduced safe-haven buying," said Tim Waterer, Chief Market Analyst at KCM Trade. "However, dollar strength has helped gold recover slightly."

Federal Reserve Governor Adriana Kugler added that the trade truce lowers the likelihood of the central bank needing to cut interest rates to counteract an economic slowdown. Market expectations are now pricing in a 55-basis-point rate cut later this year, beginning in September.

Despite the upbeat market tone, some analysts remain cautiously bullish on gold. Waterer noted that "geopolitical and economic risks haven’t vanished," suggesting that pullbacks may still attract buyers.

Meanwhile, spot silver gained 0.6 per cent to $32.78 an ounce, platinum rose 0.8 per cent to $982.70, and palladium fell 0.4 per cent to $942.19.

Back in India, Manoj Jain, Director at India Nivesh, highlighted that precious metals faced strong sell-offs globally due to the US-China trade accord, the Indo-Pak ceasefire, a rising dollar index, and firmer US bond yields. Gold June futures on MCX closed Monday at Rs 92,901 per 10 grams, down 3.75 per cent, while silver July futures settled at Rs 95,344 per kg, down 1.43 per cent.

Retail gold prices across major Indian cities also reflected subdued momentum. In Mumbai and Kolkata, 24-karat gold was priced at Rs 9,901 per gram and 22-karat at Rs 9,076. Delhi saw slightly higher rates with 24K gold at Rs 9,916 and 22K at Rs 9,091. Chennai and Bengaluru recorded similar pricing trends.

Outlook

Experts anticipate continued volatility for gold and silver prices this week amid fluctuations in the dollar index and ongoing geopolitical developments. Key support levels for gold are seen at $3,200–$3,180 per ounce and resistance at $3,250–$3,274. Silver may find support at $32.30–$32.00, with resistance between $32.94–$33.30.

MCX gold is expected to trade within a support zone of Rs 92,400–91,770 and resistance at Rs 93,360–94,000. Silver has support at Rs 94,400–93,650 and resistance at Rs 96,000–96,650.

Analysts suggest buying silver on dips while remaining cautious on gold in the near term.

Anil Singhvi: “Gold will remain weak” amid improving global sentiment

Zee Business Managing Editor Anil Singhvi believes gold may remain weak in the near term as risk appetite in global markets improves. Singhvi said that the US markets have reacted positively to the trade truce with China, with tariffs expected to be reduced over the next three months.

His key observations include:

• US markets are gaining due to easing trade tensions with China
• Tariffs on Chinese goods will drop from 145% to 30% for 90 days
• Positive developments are a boost for global equity markets

Singhvi’s view reflects a broader understanding that gold, typically a safe-haven asset, thrives on uncertainty. With the US-China standoff temporarily cooling off, safe-haven demand may decline, leading to subdued gold performance.

Retail Gold Prices Across Major Indian Cities (May 13, 2025):

Retail Gold Prices Across Major Indian Cities (May 13, 2025):

Gold Price in Mumbai:
In Mumbai, the price of 22-karat gold stood at Rs 8,750 per gram, while 24-karat gold was priced at Rs 9,076 per gram.

Gold Price in Delhi:
The national capital recorded 22K gold at Rs 8,765 per gram, with 24K gold available at Rs 9,091 per gram.

Gold Price in Chennai:
Gold rates in Chennai were slightly lower, with 22K gold at Rs 8,750 per gram and 24K gold at Rs 9,076 per gram.

Gold Price in Kolkata:
In Kolkata, 22-karat gold was priced at Rs 8,750 per gram, and 24-karat gold was selling at Rs 9,546 per gram.

Gold Price in Bengaluru:
Bengaluru saw 22K gold trading at Rs 8,750 per gram, while 24K gold was available at Rs 9,546 per gram.

Gold Price in Kerala:
Pune saw 22K gold trading at Rs 8,750 per gram, while 24K gold was available at Rs 9,546 per gram.