and markets posted mixed results on Thursday, with gold touching record highs while silver retreated, as geopolitical tensions and macroeconomic shifts continued to drive commodity markets.
Internationally, gold is trading at $4,705 per ounce, up 0.16 per cent, while the domestic price hovers near the ₹1,61,500–₹1,62,000 zone following a sharp breakout in the previous session. In India, gold is priced at approximately ₹1,45,056 per 10 grams. Silver, by contrast, declined 1.35 per cent to $87.69 per ounce internationally, translating to roughly ₹2,70,349 per kilogram domestically.
Gaurav Garg, research analyst at Lemonn Markets Desk, noted that gold ETF inflows surged 186 per cent year-on-year, driven partly by a recent hike in import duties on both metals, which has intensified domestic demand.
On the technical outlook, COMEX Gold is consolidating within the $4,680–$4,720 range. Garg said a decisive move above $4,760–$4,780 could push prices toward the $4,850–$4,900 zone, while a break below $4,670–$4,640 could extend weakness toward $4,530–$4,500. MCX Gold’s near-term resistance sits at ₹1,62,000–₹1,63,000, with support at ₹1,58,000–₹1,57,000.
COMEX Silver is holding the $87–$88 zone, with resistance at $89–$90 and support at $83–$81. MCX Silver is trading within ₹2,94,000–₹2,96,000, with upside resistance at ₹3,00,000–₹3,02,000.
Crude oil markets are also firm, with MCX Crude trading in the ₹9,700–₹9,800 range and US Oil consolidating above the $100 mark. Both remain sensitive to developments in the Strait of Hormuz. The rupee remains under pressure, with USD/INR consolidating near all-time highs above ₹95.70, with the ₹96 level in focus if dollar demand persists.
Safe-haven demand remains the dominant theme across commodities amid ongoing geopolitical uncertainty.