Gold prices today: Gold prices held flat on Tuesday, as investors remain cautious ahead of the August 15 meeting between Trump and Russian President Putin
in Alaska, aimed at negotiating a resolution to the Ukraine conflict.
On MCX, gold prices for the October contract were trading nearly flat at 1,00,260 for 10g as of 10:00 am. It hit an all-time high of Rs 1,02,191 last week. On the silver side, it ticked up by 0.2 per cent or by Rs 216 to trade at 1,13,506.
Gopesh Sharma, a commodity expert, commented that the gold and silver markets have already witnessed a significant downturn in the previous session. With gold currently trading around the USD 3400 mark in the international market, he believes it is unlikely to break below the key support level of USD 3390.
On the geopolitical side, Trump told reporters at the White House press conference on Friday, "So I'm going in to speak to Vladimir Putin, and I'm going to be telling him, you've got to end this war. You've got to end it." The new deadline will now end on November 10, 2025, according to the latest order signed by Trump.
Bring some more relief to the safe-haven flows, US President Donald Trump on Tuesday (Aug 12) signed an executive order to continue the suspension of tariffs on China for an additional 90 days. The deadline ended on August 1, 2025.
Indian rupee was trading in the green territory today (August 12). When the Indian rupee strengthens, MCX gold prices typically fall, and when the rupee weakens, gold prices tend to rise.
Sharing his trading outlook, Gopesh Sharma suggested a buying opportunity in gold within the range of 1,00,000 to 1,00,300, with a stop loss at 99,800. He expects a potential pullback towards 1,00,700 and 1,00,900. For silver, he recommended buying at 1,13,000 with a stop loss at 1,12,500 and a target of 1,14,100.
Gold Price Today: City-wise rates