Gold price today 25 August 2021: Yellow metal trading flat, check rates in Delhi, Mumbai, Chennai and Kolkata
Gold price today: Gold and silver showed mixed movement in early trading session on August 25, said Amit Khare of Ganganagar Commodities Ltd.
After two days of positive movement, gold prices remained flat on August 25 in early trade. The 24-carat variant of yellow metal was trading at Rs 47,555/10 gm on August 25, down by only Rs 91 from the previous close Rs 47,646/10 gm, according to the rate provided by the Indian Bullion and Jewellers Association (IBJA). The price of 22-carat gold was also down by Rs 84 and reached Rs 43,560/10 gm. The previous close on August 24 was Rs 43,644/10 gm.
“Gold is hovering around the $1,800/oz level while lack of participation is clearly visible as the market participants await Fed chairman’s speech which could decide the price direction either side. Gold is still trading below 100 DEMA levels which is at $1,810 and a is major technical resistance to cross. Gold on MCX also traded moderately high throughout the day. However, volume action is not encouraging. Momentum indicators are higher and suggesting a profit booking from these levels. Therefore, our outlook for today is more or less negative for the Indian market,”
said Sandeep Matta, founder, TRADEIT Investment Advisor.
Silver prices
Ailver again witnessed momentum from August 23. On August 25, the price of the white metal was up by Rs 384/kg to Rs reach 63,414/kg. Silver traded at Rs 63,030/kg on August 24, according to data provided by IBJA.
“Gold and silver prices are firmer in on Wednesday. Silver hit a two-week high today and the bulls are gaining more confidence. The gold market paused today after good gains posted on Monday. The precious metals bulls are encouraged this week by growing ideas the Federal Reserve will not be able to start tightening its monetary policy as soon as many had reckoned just a few weeks ago,” said Amit Khare, AVP, research commodities, Ganganagar Commodities Ltd.
“Gold and silver showed up mixed movement in early trading session on August 25. On the Multi-Commodity Exchange (MCX) too, October gold contracts closed higher by 0.06% at Rs 47,612/10 gm. While September contract silver futures closed at Rs 63,474 a kilogram or 0.87% up. We saw a small short covering rally on both gold and silver since Monday, so traders are advised to create fresh longs positions in gold and silver in small dips,” added Khare.