Gold and silver prices today: Gold moves in Rs 1.59–1.60 lakh range; silver edges higher as traders track US data
Gold traded in a narrow and volatile band while silver held firm in the domestic futures market as investors tracked macroeconomic cues and geopolitical developments. Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said gold prices moved in a sideways range between Rs 1,59,500 and Rs 1,60,000, with CME gold hovering near the $5,100 level, reflecting a cautious trading session.
According to Trivedi, market participants are now closely watching key US macroeconomic data due later today, particularly the Unemployment Rate and Nonfarm Payrolls, which could influence expectations around the Federal Reserve’s policy outlook. He added that rising crude oil prices amid the ongoing conflict in Western Asia are also contributing to volatility in bullion, as markets continue to price in geopolitical risks.
Technically, Trivedi sees support for gold near Rs 1,58,000, while resistance is placed around Rs 1,62,000, suggesting prices may continue to remain range-bound unless a strong trigger emerges.