Gold and Silver Rate Today, March 24, 2025: Gold prices edged lower on Monday, March 24, while silver continued to climb, as traders reacted to global cues and awaited further direction ahead of key US announcements.

On the Multi Commodity Exchange (MCX), April gold futures slipped by Rs 28 or 0.03 per cent, closing at Rs 87,750 per 10 grams. Meanwhile, silver futures surged by Rs 456 or 0.47 per cent, trading at Rs 98,340 per kilogram.

The dip in gold prices follows heavy profit booking and a rebound in the dollar index. Traders remain cautious ahead of the US reciprocal tariffs announcement scheduled for April 2.

“Gold and silver witnessed strong profit booking from recent highs due to a strengthening dollar and rising geopolitical concerns. We expect the trend to remain volatile this week.”

He noted that both metals slipped from significant highs last week. Internationally, gold April futures settled at $3,021.40 per troy ounce, down 0.74 per cent, while silver May futures closed at $33.486, down 1.49 per cent. In the domestic market, gold closed at Rs 87,778 per 10 grams, and silver at Rs 97,884 per kilogram, both ending the week on a weaker note.

Despite the correction, geopolitical tensions in the Middle East and uncertainty around US trade tariffs continue to support safe-haven demand for precious metals.

Jain adds, “We expect volatility to persist amid a fluctuating dollar index and global trade tensions. However, gold and silver are likely to hold key support levels of $2,922 and $31.40 respectively.”

Trading strategy: “Sell gold on rise around Rs 88,100 with a stop loss of Rs 88,440 for a target of Rs 87,400,” Jain recommends.

Spot gold dipped 0.1 per cent to $3,022.21/oz in early trade, weighed down by a stronger dollar. The dollar index hovered near its highest level since early March, making dollar-priced gold less attractive for overseas buyers.

Gold had touched a record high of $3,057.21/oz last Thursday. Meanwhile, US gold futures were slightly up 0.2 per cent at $3,026.30/oz.

Silver held firm at $33.16, while platinum stayed stable at $974.98 and palladium gained 0.3 per cent to $960.62.

Analysts believe any progress on a Russia-Ukraine ceasefire could cap gold’s gains, while uncertainty over US tariffs and ongoing Middle East tensions could continue to fuel safe-haven demand.

While gold has taken a breather after its record rally, silver continues to shine. Investors should brace for volatility this week, with global developments—especially US tariffs and geopolitical tensions—expected to steer the precious metals market.