Gold & Silver Rates Today, 23 April 2025: Gold dips 1.52% to Rs 96,500, silver slides 0.29% to Rs 95,699

Gold & Silver Rates Today, 23 April 2025: Gold prices on Tuesday saw June futures dip by 1.52 per cent or Rs 1,477 to touch Rs 96,500 per 10 grams. Meanwhile, May silver futures slipped 0.29 per cent or Rs 275 to close at Rs 95,699 per kilogram.

Global Gold Prices dip after early surge

Globally, gold soared to a record $3,500 per ounce in early trade due to safe-haven buying amid global uncertainty. But prices later dropped, with spot gold down 1.5 per cent to $3,372.68 an ounce by 3:46 p.m. EDT (1946 GMT), while US gold futures closed 0.2 per cent lower at $3,419.40 per ounce.

Stronger dollar, positive trade signals pressure Gold

The pullback came after US Treasury Secretary Scott Bessent hinted at easing tensions with China, lifting equity markets and the US dollar. The dollar index (.DXY) gained 0.7 per cent, making gold costlier for holders of other currencies.

"Gold began to retreat after the Treasury Secretary’s comments hinted at progress with China. That’s when the sell-off began," said Bob Haberkorn, senior market strategist at RJO Futures.

Domestic markets stay resilient on Rupee weakness

Despite the global pullback, domestic gold prices ended higher, supported by a weaker rupee. On MCX, gold for June delivery settled at Rs 97,340 per 10 grams, up 0.04 per cent, while silver closed at Rs 95,879/kg, up 0.66 per cent.

Expert View: High volatility to continue

Manoj Jain, Director at India Nivesh, said, "Gold and silver showed high volatility. While gold breached $3,500 in early trade, profit-taking emerged following positive US remarks on China."

Support & Resistance Levels:

Gold (Global): Support at $3,384–$3,330, resistance at $3,440–$3,480

Gold (MCX): Support at Rs 96,600–95,850, resistance at Rs 98,000–98,650

Trading Strategy: Sell gold near Rs 97,000 (SL Rs 97,400), buy silver near Rs 95,200 (SL Rs 94,400)

Gold outlook still bullish despite dip

Despite the correction, gold is up 29 per cent year-to-date and has notched 28 record highs in 2025. JPMorgan forecasts prices above $4,000/oz by 2026 amid economic uncertainty.

The Relative Strength Index (RSI) for gold was at 74 — signaling overbought conditions.

Movement in other precious metals

• Silver (Spot): Down 0.7 per cent to $32.47/oz
• Platinum: Down 0.8 per cent to $953.64/oz
• Palladium: Up 0.6 per cent to $932.75/oz

Retail Gold Prices Across Major Indian Cities (April 23, 2025):

Gold Price in Mumbai:

In Mumbai, the price of 24-karat gold stood at Rs 10,136 per gram, while 22-karat gold was priced at Rs 9,291 per gram.

Gold Price in Delhi:

The national capital recorded 24K gold at Rs 10,151 per gram, with 22K gold available at Rs 9,306 per gram.

Gold Price in Chennai:

Gold rates in Chennai were slightly lower, with 24K gold at Rs 10,136 per gram and 22K gold at Rs 9,291 per gram.

Gold Price in Kolkata:

In Kolkata, 24-karat gold was priced at Rs 10,136 per gram, and 22-karat gold was selling at Rs 9,291 per gram.

Bengaluru:

Bengaluru saw 24K gold trading at Rs 10,136 per gram, while 22K gold was available at Rs 9,291 per gram.