Gold, Silver Prices On March 4, 2025: Upward Trend Continues Amid Trade War Concerns; Check City-Wise Rates

Gold prices extended their rally for another session on March 4, following Donald Trump's pledge to impose tariffs on trade partners.

The price of the yellow metal surged on Tuesday, with the MCX gold rate climbing to ₹85,399 per 10 grams, reaching an intraday high of ₹85,518 shortly after the market opened, reported Zee Business.

However, as of 9:33 AM IST, gold futures (April 4 contract) dipped slightly by 0.01% to ₹85,379, while silver futures (May 5, 2025 contract) remained steady at ₹94,536 on MCX.

International Market Trends

In global markets, spot gold was last observed trading 0.3% lower at $2,885.40 per ounce. Meanwhile, the US dollar index weakened by 0.08% to 106.58, making gold more affordable for holders of other currencies.

Should You Buy Gold Now or Wait?

According to Manoj Kumar Jain, director at Prithvi Finmart, gold and silver prices are expected to remain volatile this week, influenced by fluctuations in the dollar index and the ongoing US trade war.

"Gold has support at $2,884-2,860, while resistance is at $2,922-2,940 per troy ounce. Silver has support at $31.80-31.55, with resistance at $32.50-32.80 per troy ounce in today's session," Jain explained.

On the MCX, gold is expected to find support at ₹85,040-₹84,770, with resistance at ₹85,820-₹86,100. Silver, on the other hand, has support at ₹95,350-₹94,700 and resistance at ₹96,800-₹97,400.

Jain recommended selling silver around ₹96,400 with a stop loss at ₹96,950, aiming for a target price of ₹95,400.

City-Wise Gold Prices (24K & 22K) | March 4, 2025

Gold prices remain closely tied to economic uncertainties, trade policies, and currency fluctuations, making careful market analysis crucial for investors.