Global Spot Rates Slide; Indian Prices Follow Suit
Gold and Silver Price Rates in India Latest News Today: International gold prices slipped to their lowest point in over a month on Thursday, as investors moved capital into riskier assets amid a calming geopolitical landscape and growing confidence in the economic outlook.
Spot gold was trading at approximately $3,153 per ounce, reflecting a 0.8% decline by early Asian trading hours. U.S. gold futures were also down 1%, sitting near $3,157 per ounce. This marks gold’s weakest performance since April 10, signaling a potential reversal from the recent bullish streak.
Analysts believe that the break below the critical $3,200 support level points to a deeper short-term correction. According to technical data from Augmont’s Bullion Daily Report, the current trend could push gold down toward $3,050 or even $3,000 in the coming weeks.
In India, the local market mirrored the global drop. 24-karat gold was priced at Rs 93,930 per 10 grams, while 22-karat and 18-karat gold were priced at Rs 86,100 and Rs 70,450, respectively, according to GoodReturns.
Domestic support levels are seen near Rs 91,350–90,780, while resistance could cap gains at around Rs 92,450–92,690 per 10 grams.
Gold, traditionally viewed as a shield during economic or geopolitical storms, tends to struggle when risk sentiment improves and yields rise. With attention now shifting to upcoming U.S. economic data, markets are closely watching for any cues that could influence Federal Reserve policy decisions.
Still, not all outlooks are bearish. Some experts suggest the current pullback may provide a buying opportunity for long-term investors, especially if the metal stabilizes near $3,100 or Rs 90,000 per 10 grams.
“Gold may be under pressure now, but if inflation concerns re-emerge or growth expectations falter, it could bounce back strongly,” said a Mumbai-based bullion strategist.
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