US President Donald Trump said on Tuesday that the ceasefire with Iran would be extended indefinitely, just hours before it was due to expire. The announcement, however, appeared to be unilateral, with no immediate confirmation from Iran or US ally Israel whether they would agree to continue the ceasefire that began two weeks ago.
In the domestic market, MCX silver futures for May 2026 delivery traded at Rs. 4,800 or an increase of 2% to Rs. 2,49,423 per kg has been reached. Gold contracts for June 2026 delivery at Rs. 2,000 or 1.3% to Rs. 1,53,699 per 10 grams.
Globally, yellow metal prices rose on Wednesday. Spot gold was up 0.6% at $4,739.94 an ounce by 0105 GMT, recovering after sliding to its lowest level since April 13 in the previous session. US gold futures for June delivery also rose 0.8% to $4,758.60. Among other precious metals, silver rose 1% to $77.47 an ounce.
How should you trade gold?
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Gold and silver prices are likely to remain volatile this week due to volatility in the dollar index, moves in crude oil prices and uncertainty surrounding the US-Iran peace deal, Manoj Kumar Jain said.
He noted that gold has support in the range of $4,681 to $4,640 per troy ounce, while resistance is seen between $4,770 and $4,818. On the other hand, silver is at $74.00 to $70.70 for the current session and resistance is at $78.80 to $80.40 per troy ounce.
On MCX, gold was Rs. 1,52,800 and Rs. 1,54,200 with resistance between Rs. 1,50,500 to Rs. 1,48,800 is supported. Silver Rs. 2,40,000 to Rs. 2,36,600 at and resistance at Rs. 2,48,000 to Rs. 2,51,500 is on.
He sold gold to traders at Rs. 1,48,000 advised to hold a long position till it closes, with Rs. 1,54,000 to Rs. Profit booking was recommended around the 1,55,000 range. In the previous session, he had collected Rs. Also advised to avoid fresh long positions in silver after breaching 2,45,000 level.
Gold, silver prices today, April 22, across major cities
Gold price in Delhi today
Standard gold (22 carat) price in Delhi per 8 grams is Rs. 1,13,992, while the price of pure gold (24 carat) is Rs. 1,24,344 per 8 grams.
Gold price in Mumbai today
Standard gold (22 carat) price per 8 grams in Mumbai is Rs. 1,13,872, while the price of pure gold (24 carat) is Rs. 1,24,224 per 8 grams.
Gold price in Chennai today
Standard gold (22 carat) price in Chennai per 8 grams is Rs. 1,14,392, while the price of pure gold (24 carat) is Rs. 1,24,792 per 8 grams.
Gold price in Hyderabad today
Standard gold (22 carat) price in Hyderabad per 8 grams is Rs. 1,13,872, while the price of pure gold (24 carat) is Rs. 1,24,224 per 8 grams.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of the Economic Times.)
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