Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Gold price today: Rates hit a record high on Trump tariffs concerns; experts highlight key MCX levels
    Commodities

    Gold price today: Rates hit a record high on Trump tariffs concerns; experts highlight key MCX levels

    August 8, 20253 Mins Read


    Gold price today: Gold rates rose to hit a record high of ₹1,02,250 per 10 grams in the domestic futures market Friday (August 8) morning as growing fears about Trump tariffs boosted safe haven demand. The dollar’s weakness also supported gold prices. MCX Gold October 3 contracts traded 0.50 per cent higher at ₹1,01,978 per 10 grams, while MCX Silver September 5 contracts were up 0.98 per cent at ₹1,15,409 per kg around 3 PM.

    After doubling the tariffs on Indian imports for buying Russian energy, US President Donald Trump has said that trade negotiations with India will remain on hold until the ongoing tariff dispute is resolved.

    Trump has imposed a 50 per cent tariff on Indian imports, which, according to experts, will reduce India’s GDP growth by 0.3 per cent to 0.6 per cent.

    Trump’s tariffs on imports from several countries came into effect on Thursday.

    Meanwhile, media reports that the US had imposed tariffs on imports of 1-kilogram gold bars also fuelled a rally in the yellow metal.

    A Financial Times report suggested that the US has imposed tariffs on imports of 1-kilogram gold bars, dealing another trade blow to Switzerland, the world’s biggest gold-refining hub.

    The dollar‘s weakness against its peers is also supporting the gold price. The greenback fell almost half a per cent to 97.96 during the session, making gold cheaper in other currencies.

    Experts highlight key levels for MCX Gold, Silver

    According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold and silver prices may remain volatile in today’s session amid US tariffs-related uncertainty and volatility in the dollar index.

    Jain expects gold to test ₹1,03,000 per 10 grams in today’s session. He suggests buying silver above ₹1,14,000 with a stop loss of ₹1,12,800 for the target of ₹1,15,500-1,16,650.

    “Gold has support at $3,434-3,409, while resistance is at $3,509-3,540 per troy ounce, and silver has support at $38.00-37.70, while resistance is at $38.80-39.10 per troy ounce in today’s session,” said Jain.

    MCX Gold has support at ₹1,01,000-1,00,475 and resistance at ₹1,02,200-1,03,500 while silver has support at ₹1,13,400-1,12,750 and resistance at ₹1,15,500-1,16,650, Jain said.

    Rahul Kalantri, VP of commodities at Mehta Equities, said gold has support at $3,364-3,345 and resistance at $3,410-3,425. Silver has support at $37.85-37.65 and resistance at $38.34-38.55.

    In INR, Kalantri said gold has support at ₹1,01,050-1,00,650 while resistance is at ₹1,01,750-1,01,980. Silver has support at ₹1,13,680-1,12,850 while resistance at ₹1,15,000-1,15,700.

    Read all market-related news here

    Read more stories by Nishant Kumar

    Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    The best pictures as over 20,000 attend Royal Manx Agricultural Show 2025

    Commodities

    Elon Musk wants to start supplying energy to your home with new British Gas rival

    Commodities

    PA energy bills expected to rise after Trump cuts solar credits • Spotlight PA

    Commodities

    KPK aims to expand cocoa cultivation to 10,000 hectares by 2030

    Commodities

    Sanctioned Oil Trader Sues Intelligence Firm as Spy Saga Continues

    Commodities

    Bills Players as Heavy Metal Bands

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Property

    Tanmiya For Real Estate Investment affiche un bénéfice annuel de 37,2 millions EGP -Le 26 février 2025 à 09:19

    Commodities

    ICAR Annual Conference of Directors and Agricultural University Vice-Chancellors Inaugurated by Shivraj Singh Chouhan

    Commodities

    Tether Explores Diving Into The Commodity Trading Sector With New Lending Initiative

    Editors Picks

    8i Ventures: 8i Ventures exits M2P Fintech with 12 times return

    October 18, 2024

    Analyzing SolarWinds (NYSE:SWI) & Tenet Fintech Group (OTCMKTS:PKKFF)

    August 20, 2024

    Charter Hall, Hostplus make ‘final’ offer for Hotel Property Investments — Capital Brief

    October 17, 2024

    The White House to release the ‘Bible’ of cryptocurrency?

    July 30, 2025
    What's Hot

    Latest Economy News Today on August 19, 2024 Live Updates: Exports of key commodities fall in April-July amid rising trade deficit

    August 19, 2024

    Wall Street dégringole de près de 6% à la clôture – L’Express

    April 4, 2025

    SEC ranks cryptocurrency among its top examination priorities for 2025 | CryptoTvplus

    October 23, 2024
    Our Picks

    Trends and Analysis • Carbon Credits

    August 26, 2024

    Mirabelle mise sur les assureurs pour réinventer le viager

    March 26, 2025

    Nano-enhanced storage of American cotton using metal-oxide nanoparticles for improving seed quality traits

    October 18, 2024
    Weekly Top

    India bonds rangebound ahead of state debt supply, CPI data – Markets

    August 10, 2025

    ‘Not a single atom goes to waste’

    August 10, 2025

    Footy’s greatest ever commentator opens up about his struggles in retirement – and gives a glimmer of hope to fans who are desperate to see him return to TV

    August 10, 2025
    Editor's Pick

    Vietnam allows big companies to buy clean energy directly to meet their climate targets

    July 24, 2024

    Shanghai hub bolsters digital yuan’s global ambitions

    June 19, 2025

    Oil edges up, but on track for biggest weekly loss in over a month

    October 18, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.