Gold, silver prices today: What’s behind the latest move in bullion - CNBC TV18

AI desk brief

Gold held firm at around $4,461.40/oz on Thursday while silver eased to $68.11/oz (-0.78%) as markets balanced West Asia tensions, a softer dollar and Brent crude above $101/bbl against the risk of hotter US inflation keeping rates higher for longer. Gold had already gained more than 1% in the prior session, and analysts said a move above $4,500/oz could open further upside; near-term range cited was $4,300-$4,500/oz, with Friday’s US CPI and Thursday’s PPI the key triggers before the Fed’s Sept. 15-16 meeting.

Silver was more volatile, rising about 3.3% on Wednesday before slipping back; Kothari said it could test $70/oz if it holds above $67. In India, the rupee around ₹94.8/$ and festival/wedding-season physical demand were cited as additional supports, with MCX gold support at ₹1.49-₹1.47 lakh/10g and resistance at ₹1.55-₹1.57 lakh/10g; silver support was ₹2.31-₹2.27 lakh/10g and resistance ₹2.43-₹2.46 lakh/10g.