Silver Gold Price Today: Gold and silver slipped in early trade in Asian markets, know how the movement of precious metals will be in future.

On Tuesday, the second day of the trading week in the global commodity markets, a sluggishness and profit-booking trend was seen in the prices of precious metals. In the initial session of Asian markets, both spot gold and silver were seen slipping in the red. On the international market COMEX, gold is under pressure and is trading around $ 4,135 an ounce, while silver has also slipped to the range of $ 56.50 to 57.10 an ounce. Despite the demand for safe haven investment, the rise in US treasury bond yields and the strengthening of the US dollar index have created immediate pressure on the bullion market.

In terms of Indian markets, the morning trading session of Multi Commodity Exchange (MCX) is closed today due to the public holiday of Vijayadashami (Dussehra), while the evening session will open at 5:00 PM. In such a situation, the eyes of bullion traders and retail buyers of the domestic market are fixed on global signals. With the festive season approaching, especially Dhanteras and Diwali, it has become very important for Indian consumers to know whether this softening at the international level is a golden opportunity to buy or whether the prices may slip further in the coming days.

The biggest trigger behind the recent decline in gold and silver prices in the international market is coming from the American debt market. The US 10-year Treasury bond yield remained as high as 5.14%, while the 2-year yield also remained above 4.77%. When bond yields rise, investors move away from non-yielding assets like gold and silver and toward fixed yield bonds.

Along with this, there remains uncertainty regarding interest rates in the market before the upcoming policy meeting of the US Federal Reserve. Despite the stability in energy prices, inflation data in the US is still keeping policy makers on alert. As the Dollar Index (DXY) remained in a strong range of 101.80 to 102, gold sold in dollars became expensive for buyers from countries with other currencies, due to which big hedge funds in Asian markets (Hong Kong, Shanghai and Tokyo) booked small profits in the morning.

Fresh signals from precious and industrial metals in Tuesday’s early Asian and overseas session were recorded as follows:

Trading on the Indian futures market i.e. MCX is completely suspended today on Tuesday in the first session of the day (from 9:00 am to 5:00 pm). However, to keep pace with overseas markets, the commodity exchange will be open for trading from 5:00 pm to 11:30 pm/11:55 pm.

In domestic bullion markets (like Delhi, Mumbai’s Zaveri Bazar, Lucknow and Ahmedabad), local retailers will decide today’s prices on the basis of international prices. Generally, when the dollar is strong and the Indian rupee remains weak, the entire decline in the international market is not reflected in domestic prices. Currently, in the domestic market, 24 carat gold is trying to cool down a bit from the upper levels and settle between ₹1,44,000 to ₹1,45,500 per 10 grams, while silver is finding support around ₹1.70 lakh to ₹1.75 lakh per kg.

Commodity analysts believe that this fall in gold is not a sign of any major recession, but it is a healthy correction after the recent rise. If we look at the technical charts:

1. Important support zone of gold: The first major support for gold in the international market is at $4,100 to $4,110 per ounce. If prices slip below this level, the next strong technical base will be seen around $4,050. On the upside, the $4,200 range remains a strong resistance. As long as gold remains above $4,100, the medium-term trend will remain positive.

2. Silver move: Silver continues to have strong structural industrial demand from solar panel manufacturing, electric vehicles (EV) and advanced electronics. According to analysts, the level of $55.00 per ounce will act as a strong rock-bottom support for silver.

3. Central Banks’ Continuous Purchasing: In an era of geopolitical tensions and global de-dollarization, the Reserve Bank of India (RBI), People’s Bank of China and other global central banks have been continuously adding gold to their forex reserves. This institutional demand protects gold from any major decline.

Purchasing gold and silver on the auspicious occasion of Diwali and Dhanteras is considered extremely auspicious in Indian culture. The softness present in the market at this time may prove to be a better opportunity for retail buyers:

• Wedding and Jewelery Buyer: For families who want to get jewelery made for the upcoming wedding season, every drop in prices by Rs 1,000 to Rs 1,500 per 10 grams is a great opportunity. Instead of spending the entire budget at once, do shopping in pieces (Staggered Buying). Always buy only BIS Hallmark (BIS Hallmark 6 Digit HUID) certified jewellery.

• Net Investors (Digital Gold and Gold ETFs): If you are investing only for returns and wealth protection, prefer Gold ETFs or Sovereign Gold Bonds (SGB – Secondary Market) rather than bearing the additional burden of making charges and GST in physical jewellery. There is direct saving of 3% GST and 15-20% making charge.

• Advice for Futures Traders: Until US bond yields stabilize and the Federal Reserve’s stance on interest rates becomes clear, avoid aggressive long positions. A buy-on-dips strategy with stop-loss on dips is the safest path in the current market.