Gold Price Crash Today: Gold Crashes Nearly 1% Amid Dollar Strength and Easing Global Tensions; Experts Advise Caution on MCX Gold

Gold Price Crash today drops 0.70% to ₹91,615 per 10g on MCX amid dollar strength and reduced geopolitical risk. Experts advise no fresh trades. Check full strategy.

Gold Price Crash Today: Gold prices plunged on Thursday, extending their losing streak amid a volatile global backdrop. At 9:10 AM, MCX Gold June futures were trading 0.70% lower at ₹91,615 per 10 grams, reflecting the ongoing impact of a stronger US dollar and diminishing geopolitical tensions. Over the past week, gold prices have corrected more than 3%, signaling reduced safe-haven demand among investors.

What’s Driving Gold Prices Down?

The current decline in gold prices can be attributed to several macroeconomic and geopolitical factors:

• Stronger Dollar: The US dollar index continues to oscillate, putting downward pressure on bullion. As the dollar strengthens, gold—priced in dollars—becomes expensive for holders of other currencies, thereby reducing demand.
• Easing Geopolitical Risks: Concerns surrounding the US-China trade conflict have diminished following positive signals from ongoing negotiations. Similarly, tensions between India and Pakistan have de-escalated, encouraging investors to shift towards riskier assets like equities.
• Fed Policy Outlook: According to a Bloomberg report, Mary Daly, President of the Federal Reserve Bank of San Francisco, stated that the strong US economy gives the Fed room to be “patient.” With inflation within comfortable limits, expectations for imminent rate cuts have weakened—another bearish signal for gold.

Expert Analysis: What Should Investors Do?

Manoj Kumar Jain, Research Head at Prithvifinmart Commodity Research, advised investors to stay cautious.

“We recommend staying away from fresh positions in gold and silver today, especially ahead of crucial global economic data. Price volatility is expected to continue,” Jain said.

He outlined key technical levels to watch for MCX Gold and Silver:

• Gold Support: ₹91,770 – ₹91,360
• Gold Resistance: ₹92,650 – ₹93,100
• Silver Support: ₹94,800 – ₹94,200
• Silver Resistance: ₹96,000 – ₹96,650

In the global market:

• Gold Support: $3,164 – $3,140
• Gold Resistance: $3,210 – $3,234
• Silver Support: $32.10 – $31.80
• Silver Resistance: $32.74 – $33.00

Rahul Kalantri, VP of Commodities at Mehta Equities, echoed a similar tone of caution. He pegged gold’s support at ₹91,350–₹90,780, with resistance near ₹92,450–₹92,690. For silver, the key levels are ₹94,380–₹93,550 (support) and ₹95,950–₹96,750 (resistance).

Outlook: Volatility Ahead

Given the current macroeconomic environment, gold and silver may continue to face pressure. With investor sentiment shifting toward equities and dollar movements driving short-term trends, experts are urging retail traders to avoid aggressive bets for now.

However, long-term investors should keep a close watch on upcoming global economic data, US Fed commentary, and geopolitical developments. Precious metals could regain their luster if uncertainty returns to the markets.

Key Takeaways for Investors:

• MCX Gold down 0.70% at ₹91,615 amid strong dollar
• Weekly gold price drop exceeds 3%
• No fresh positions advised in gold or silver today
• Dollar strength, easing India-Pakistan tensions pressurize bullion
• Watch key support/resistance levels for informed decisions

Stay updated with all major market trends and expert insights on [YourNewsPortalName]. Bookmark us for your daily dose of financial clarity.