Gold and silver prices in your city on 2 April: Gold and silver prices witnessed a significant fall on Thursday, April 2, following losses in international bullion prices amid a strong US dollar.
June futures opened lower by ₹1,218, or 0.79%, at ₹1,52,490 per 10 grams, compared to the previous close of ₹1,53,708. Meanwhile, MCX silver May futures also started the session lower, declining by ₹701, or 0.28%, to ₹2,42,800 per kilogram from the previous close of ₹2,43,501.
Selling pressure in gold and silver intensified, with MCX gold dropping over 2% to around ₹1.50 lakh per 10 grams. Meanwhile, MCX silver plunged by more than ₹12,000, or 5%, slipping below ₹2.32 lakh per kg.
In the global market, gold and prices declined after Trump stated that the US would strike Iran “extremely hard” over the next two to three weeks. Spot gold fell 1.3% to $4,695.15 per ounce, while silver dropped 2.7% to $73.05 per ounce.
Meanwhile, 24-carat gold was priced at ₹1,47,360/10 gm, according to data on the Indian Bullion Association (IBA) at 12:10 AM on 2 April. Further, 22-carat gold was priced at ₹1,35,080/10 gms. Silver prices today are at ₹2,27,170/kg (Silver 999 Fine), as per the IBA website.
Check here for gold and silver prices in your city today, 2 April: Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes, and GST to the bill, which could hike the final price.
Gold and Silver Prices in Mumbai — 2 April
24 karat gold rate in Mumbai — ₹147,790/10 gm.
22 karat gold rate in Mumbai — ₹135,474/10 gm.
Silver 999 Fine rate in Mumbai — ₹227,070/1 kg.
Gold and Silver Prices in New Delhi — 2 April
24 karat gold rate in New Delhi — ₹147,540/10 gm.
22 karat gold rate in New Delhi — ₹135,245/10 gm.
Silver 999 Fine rate in New Delhi — ₹226,680/1 kg.
Gold and Silver Prices in Hyderabad— 2 April
24 karat gold rate in Hyderabad — ₹1,480,200/10 gm.
22 karat gold rate in Hyderabad — ₹1,356,850/10 gm.
Silver 999 Fine rate in Hyderabad — ₹227,430/1 kg.
Gold and Silver prices in Kolkata — 2 April
24 karat gold rate in Kolkata — ₹147,530/10 gm.
22 karat gold rate in Kolkata— ₹135,236/10 gm.
Silver 999 Fine rate in Kolkata — ₹227,190/1 kg.
Gold and silver prices in Bengaluru — 2 April
24 karat gold rate in Bengaluru — ₹147,840/10 gm.
22 karat gold rate in Bengaluru — ₹135,520/10 gm.
Silver 999 Fine rate in Kolkata — ₹227,670/1 kg.
Gold and Silver Prices in Chennai — 2 April
24 karat gold rate in Chennai — ₹148,160/10 gm.
22 karat gold rate in Chennai — ₹135,813/10 gm.
Silver 999 Fine rate in Chennai — ₹228,150/1 kg.
Gold and Silver Prices in Ahmedabad — 2 April
24 karat gold rate in Ahmedabad — ₹147,920/10 gm.
22 karat gold rate in Ahmedabad — ₹135,593/10 gm.
Silver 999 Fine rate in Ahmedabad — ₹227,790/1 kg.
Where’s gold and silver prices headed amid US-Iran war?
According to Sugandha Sachdeva, Founder of SS WealthStreet, gold prices in India are expected to remain supported in the ₹1,33,500– ₹1,35,000 range, while facing strong resistance near ₹1,57,600. A decisive move beyond these levels will be necessary to confirm a clear directional trend.
Sugandha Sachdeva of SS WealthStreet said that market movement will largely hinge on the upcoming US payroll data, scheduled for release tomorrow. She expects MCX gold prices to stay within the ₹1,35,000 to ₹1,57,000 per 10 gm range until the data is announced on Friday.
On the prices outlook, Ponmudi R, CEO of Enrich Money, said that silver price action indicates underlying weakness, despite intermittent support emerging at lower levels. On the upside, the ₹2,33,000- ₹2,34,000 now serves as the immediate resistance band.
“A sustained move above this level could trigger a recovery toward the ₹2,37,000- ₹2,40,000 zone. On the downside, a decisive break below the ₹2,30,000 level may accelerate the decline toward ₹2,26,000- ₹2,28,000 range, which remains a crucial structural support, with further downside potential extending toward the ₹2,22,000– ₹2,320,000 region. Overall, the near-term outlook remains cautious, with price action largely dependent on the ability to sustain above key support levels, while geopolitical developments and macro cues continue to influence market direction,” he added.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.