National News

Gold consolidates in the $50 range before a decisive move: Augmont Bullion Report

Published

2 years ago

March 11, 2025

Gold prices are consolidating in a range between $2885 and $2935, spurred by a weaker US dollar and safe-haven flows as fears about the US economy grow amid growing trade tensions.

Concerns over a probable economic slowdown were heightened after President Donald Trump stated that the US economy was in a moment of transition while refusing to rule out the chance that his policies would create a recession.

This comes after the United States delayed imposing 25% tariffs on several Canadian and Mexican imports for a month, while Canada maintained its first retaliatory measures. China also levied further duties on some American agriculture products in reaction to Trump’s latest tariff increases on Chinese imports. Meanwhile, Fed Chair Jerome Powell acknowledged increased economic uncertainties but expressed no need to decrease interest rates.

Investors are now looking forward to US inflation statistics later this week, which may impact the Fed’s monetary policy position.

Technical Triggers

Gold prices are consolidating in a range between $2885(~Rs 85400) and $2935(~Rs 86200), prices need to break this range for decisive move towards upside momentum of $2975 (~Rs 87000).

Silver May Futures is gaining strength and if sustains above $330(~Rs 96700), the next target is $340(~Rs 100,000), and once it sustains above that, it can head higher towards $350(~Rs 103,000).

Related Topics:2025 AugmontBullion Canadian nationalnews US

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National News

Gold and Silver Rally Up To 2% On MCX On Weakening US Dollar

The Price Surge Reflects Renewed Buying Interest and Improved Investor Sentiment Across Domestic Commodity Markets, Driven By A Softer US Dollar and Declining Treasury Yields

Published

59 minutes ago

November 5, 2026

JewelBuzz Spread The Buzz

— Bullion markets experienced a sharp rebound today as gold and silver prices jumped by up to 2% on the Multi Commodity Exchange (MCX). The price surge reflects renewed buying interest and improved investor sentiment across domestic commodity markets, driven by a softer US dollar and declining Treasury yields following strong Democratic performances in the US midterm elections.

Domestic gold prices advanced nearly 2% during morning trading, pushing gold futures to a two-week high. The decline in US Treasury yields provided further momentum, increasing the appeal of non-yielding assets such as precious metals.

Key Domestic Market Rates (November 5, 2026)

Retail bullion rates across major metro cities reflected today’s upward surge:

Delhi:

Standard 22-carat gold stood at Rs 1,07,200 per 8 grams, while pure 24-carat gold traded at Rs 1,16,936 per 8 grams.

Mumbai:

Standard 22-carat gold opened at Rs 1,07,080 per 8 grams, with pure 24-carat gold priced at Rs 1,16,816 per 8 grams.

Market Drivers

Analysts attribute today’s sudden surge to several macroeconomic factors:

US Dollar Index Softening: A weaker greenback made dollar-priced commodities more attractive to international and domestic buyers.

Declining Bond Yields: Reduced yields on safe-haven sovereign bonds shifted capital allocation toward precious metals.

Political Factors: Clarity emerging from the US midterm election results injected fresh liquidity into commodity markets.

Market observers expect spot gold and silver rates across major Indian hubs to remain responsive to macroeconomic triggers and currency movements throughout the trading session.