Latest news with #MCXGold
Mint
12 hours ago
- Business
- Mint
Gold price today: Rates drop amid escalating Israel-Iran conflict; experts unveil strategy for MCX Gold
Gold price today: Gold rates declined in the domestic futures market Friday (June 20) morning, even as tensions between Israel and Iran escalated further, and the US dollar declined after the US Federal Reserve Chair Jerome Powell's hawkish tone. MCX Gold August 5 contracts traded 0.53 per cent lower at ₹ 98,799 per 10 grams around 9:05 AM. The Israel-Iran war has entered the second week, with both countries bombing each other. According to a Reuters report, Israeli Prime Minister Benjamin Netanyahu said on Thursday that while Israel's military actions are not aimed at toppling Iran's leadership, such an outcome could be a consequence of the ongoing conflict. Fears are mounting that tensions between the two countries could escalate into a major crisis, with the active involvement of the US and other countries. Meanwhile, White House Press Secretary Karoline Leavitt on Thursday (June 19) said President Donald Trump will decide on the US role in the Iran-Israel conflict within two weeks. (This is a developing story. Please check back for fresh updates.)
Mint
4 days ago
- Business
- Mint
Gold price today: Rates decline on profit booking amid focus on Israel-Iran war, US Fed policy decision
Nishant Kumar Updated 17 Jun 2025, 09:14 AM IST Gold price today: Gold rates hover near record highs amid heightened geopolitical tensions. (Photo: Pixabay) Gold price today: Gold rates declined in the domestic futures market on Tuesday (June 17) morning due to profit booking at higher levels, as investors remained focused on developments surrounding the Israel-Iran conflict and the upcoming US Federal Reserve monetary policy decision on June 18. MCX Gold August 5 contracts traded 0.24 per cent lower at ₹ 98,940 per 10 grams. (This is a developing story. Please check back for fresh updates.)
Business Standard
13-06-2025
- Business
- Business Standard
Nifty trades below 24,750 mark; FMCG shares decline
The key domestic indices traded in negative terrain with significant losses in early afternoon trade, weighed down by negative global sentiment after Israel declared a state of emergency following strikes on Iranian nuclear and strategic sites. Market participants moved toward safe-haven assets, while investors closely tracked trends in Brent crude oil prices. The Nifty traded below the 24,750 mark. FMCG shares declined for the third consecutive trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex, declined 567.79 points or 0.69% to 81,118.36. The Nifty 50 index fell 178.70 points or 0.72% to 24,710.80. The broader market outperformed the frontline indices, the S&P BSE Mid-Cap index slipped 0.51% and the S&P BSE Small-Cap index dropped 0.46%. The market breadth was weak. On the BSE, 1,270 shares rose and 2,548 shares fell. A total of 155 shares were unchanged. MCX Gold futures for 5 August 2025 settlement jumped 1.57% to Rs 99,949. In the commodities, Brent crude for August 2025 settlement jumped $4.20 or 6.06% to $73.56 a barrel amid heightened geopolitical tensions Economy: India's Consumer Price Index (CPI)-based inflation eased to 2.82% in May 2025, down 34 basis points from April's 3.16%, marking the lowest reading since February 2019. A key driver of the decline was food inflation, which dropped to 0.99%, the lowest since October 2021, significantly below both April's 1.78%. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, up 7.13% to 15.02. The Nifty 26 Jun 2025 futures were trading at 24,744.80, at a premium of 34 points as compared with the spot at 24,710.80. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 61.6 lakh contracts at the 26,000 strike price. Maximum put OI of 50.1 lakh contracts was seen at the 24,000 strike price. Buzzing Index: The Nifty FMCG index fell 1.05% to 54,527.15. The index dropped 2.97% for the three consecutive trading sessions. United Spirits (down 2.26%), United Breweries (down 2.09%), Colgate-Palmolive (India) (down 2.02%), Godrej Consumer Products (down 1.73%), Varun Beverages (down 1.37%), Tata Consumer Products (down 1.35%), Emami (down 1.17%), Dabur India (down 1.16%), Hindustan Unilever (down 0.93%) and ITC (down 0.9%) declined. Stock in Spotlight: TANFAC Industries rallied 4.04% after the company announced that it has has successfully commissioned its 5,000 tonnes per annum (TPA) Solar Grade Dilute Hydrofluoric Acid (DHF) plant. CSB Bank shed 0.87%. The company announced that Reserve Bank of India (RBI) has approved the reappointment of Pralay Mondal as managing director (MD) & CEO of the bank for a period of three years with effect from 15 September 2025.
Time of India
13-06-2025
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for June 13, 2025 after Israel strikes Iran - should you buy or sell?
Gold price prediction: The ₹99,000 level, coinciding with the 21-day EMA, represents the most logical support zone for dip buying in this new bullish environment. (AI image) Gold price prediction today: MCX Gold August 2025 contract has opened with a spectacular gap up at ₹100,300, marking a massive surge of over 1,800 points from previous levels. This dramatic move is likely triggered by overnight geopolitical tensions on Israel attacks on Iran Nuclear sites. Dollar weakness at 98$, has created a new bullish paradigm for the precious metal. While the gap up presents immediate profit opportunities, seasoned traders are positioning for strategic buy-on-dips entries. Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Technical Transformation After Gap Opening Previous Close: ₹98,400 Gap Up Opening: ₹100,300 (+1,800 points) The massive gap up has completely altered the technical landscape: Price has decisively broken above all previous resistance levels Moving averages are now acting as support rather than resistance RSI has moved into overbought territory but shows strong momentum MACD histogram is showing explosive positive momentum Key Technical Recalibration Intraday: EMA 8: ₹99,500 (now strong support) EMA 21: ₹98,800 (primary support zone for dip buying) RSI (14): 84.72 (overbought but trending higher) MACD: Massive positive divergence with histogram at 84.74 Bollinger Bands: Price trading well above upper band, indicating strong momentum Primary Strategy: Buy Gold on Dips Near ₹99,000 Strategic Foundation: The ₹99,000 level, coinciding with the 21-day EMA, represents the most logical support zone for dip buying in this new bullish environment. This level offers multiple confluence factors: 1. EMA 21 Support: The 21-period moving average at ₹99,000 provides dynamic support 2. Psychological Level: Round number support with strong psychological significance 3. Gap Fill Protection: Sufficient distance from gap opening to avoid immediate fill 4. Volume Profile: High volume acceptance above ₹99,000 during previous sessions 5. Fibonacci Support: 50% retracement of recent rally from ₹97,500 to current levels Entry Parameters: Primary Buy Zone: ₹98,900-99,100 Optimal Entry: ₹99,000 Stop Loss: ₹98,600 (below EMA 21 with buffer) Target 1: ₹100,000 Target 2: ₹100,500 (psychological level) Risk-Reward Analysis: Maximum Risk: 400 points (from ₹99,000 to ₹98,600) Minimum Reward: 1,000 points (to ₹100,500) Risk-Reward Ratio: 1:3 (Exceptional for momentum trades) Stop Loss Management: Initial Stop: ₹98,600 (strict discipline required) Trailing Stop: Move to breakeven after 50% of Target 1 achieved Profit Protection: Secure 75% profits at Target 2 Conclusion The gap up opening in gold has created a paradigm shift from resistance-based selling to support-based buying strategies. The ₹99,000 level offers an exceptional risk-reward opportunity for traders looking to capitalize on this momentum breakout. However, the elevated volatility demands disciplined execution and strict adherence to risk management protocols. The technical setup strongly favors buyers on any weakness, with multiple confluence factors supporting the ₹99,000 zone. Traders should remain patient, wait for the market to come to them, and execute the strategy with precision when the opportunity presents itself. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
11-06-2025
- Business
- Mint
Gold price today: Rates climb ahead of US inflation data; experts highlight key levels for MCX Gold
Gold price today: Gold rates climbed in the domestic futures market Wednesday morning as uncertainty over the US-China trade deal persisted. MCX Gold August 5 contracts traded 0.35 per cent higher at ₹ 97,240 per 10 grams around 9:25 AM. Reuters reported, quoting US Commerce Secretary Howard Lutnick, saying on Tuesday that the "US and Chinese officials agreed on a framework to put their trade truce back on track and resolve China's export restrictions on rare earth minerals and magnets." Lutnick said the US team will show the plan to President Donald Trump for approval before putting it into action. The Chinese team will do the same by getting approval from President Xi Jinping, Reuters reported. While both countries have reached a preliminary agreement on a framework to ease trade tensions, there was uncertainty surrounding the final shape of the deal, which supported safe-haven demand. Investors' focus now is on the US consumer price index (CPI) prints, due today, to get cues about the US Federal Reserve's interest rate trajectory. Even though the US economy is showing signs of slowdown, experts believe the US Fed may not cut rates for the next few months due to prevailing risks of inflation amid a trade war. Meanwhile, the World Bank on Tuesday trimmed the world growth forecast by 0.4 percentage points to 2.3 per cent for 2025. The World Bank said on Tuesday that the global economy faces significant headwinds from escalating trade tensions and policy uncertainty, leading to a downgrade in prospects across most nations. It expects the Indian economy to grow slightly faster at 6.5 per cent in FY27 and 6.7 per cent in FY28. (This is a developing story. Please check back for fresh updates.)
