May 13, 2025, Gold and Silver Prices: Gold and silver prices on Tuesday continued to fluctuate, reflecting a major breakthrough in US-China trade relations and a shift in global risk sentiment after easing geopolitical tensions.
At the Multi Commodity Exchange (MCX), gold futures for delivery in June rose slightly to 0.01% (9 Rs. 9) and settled at Rs. 93,011 per 10 grams. Meanwhile, silver futures in May surged to 1.15% (Rs 1,093) and closed at Rs 96,500 per kilogram.
Despite the small profits of the MCX, Gold has been nearing its lowest level in the international market for over a week. Spot Gold remained stable at $3,230.99 per ounce at 0309 GMT after a sharp drop of 2.7% in the previous session. US gold futures rose slightly at $3,235.20.
The gold pullback came after the US and China reached a temporary agreement with each other to reduce tariffs, triggering rallies in the global stock market, and attenuating demand for safe assets. Under the contract, US tariffs on Chinese products have been reduced from 145% to 30%, while China has reduced its US import duties, which are valid for 90 days, from 125% to 10%.
“Relaxing trade tensions between the two biggest economies in the world has supported investors’ sentiment and reduced the purchase of safe hulls,” said Tim Water, chief market analyst at KCM Trade. “But the strength of the dollar helped gold recover slightly.”
Federal Reserve Governor Adriana Kugler added that the trade ceasefire is unlikely to require central banks to cut interest rates to counter the economic slowdown. Currently, market expectations are priced at a rate cut of 55 stations later this year, starting in September.
Despite the bright market tone, some analysts remain cautiously bullish with money. Waterer said “geopolitical and economic risks have not disappeared,” suggesting that pullbacks could still attract buyers.
Meanwhile, Spotsilver rose 0.6% to 32.78 oz, platinum rose 0.8% to $982.70, and palladium fell 0.4% to $942.19.
Back in India, India Naibush Director Manoj Jain highlighted that precious metals face strong sellouts worldwide due to the US-China trade agreement, the India-Pack ceasefire, rise and harder US Treasury yields. MCX’s Gold June futures fell 3.75%, at Rs 92,901 per 10 grams on Monday, while silver July futures fell 1.43%, at Rs 95,344 per kg.
Retail prices in major Indian cities also reflect the sinking momentum. In Mumbai and Kolkata, the price of 24 carat gold was 9,901 rupees per gram and 9,076 rupees at 22 carats. Delhi saw a slightly higher rate at 24k gold at Rs 9,916 and a slightly higher rate at 22K at Rs 9,091. Chennai and Bengaluru recorded similar pricing trends.
Outlook
Experts are anticipating continued volatility in gold and silver prices this week amidst the volatility of the dollar index and ongoing geopolitical developments. The main support levels of gold are found at $3,200-$3,180 per ounce, and resistance at $3,250-$3,274. Silver may find support from $32.30-32.00, while resistance is between $32.94-33.30.
MCX Gold is planning to trade resistance at Rs 93,360-94,000 within the support zone of Rs 92,400-91,770. Silver is supported at Rs 94,400-93,650 and resists at Rs 96,000-96,650.
Analysts suggest buying silver with dip while being cautious with gold in the short term.
Retail prices in major cities in India (May 13, 2025):
|
city |
24k |
22k |
|
Mumbai |
Rs 9,076 |
Rs 8,750 |
|
Delhi |
Rs 9,091 |
Rs 8,750 |
|
Chennai |
Rs 9076 |
Rs 8,750 |
|
Kolkata |
Rs 9,546 |
Rs 8,750 |
|
Bengaluru |
Rs 9,546 |
Rs 8,750 |
Retail prices in major cities in India (May 13, 2025):
Gold Prices in Mumbai:
In Mumbai, the price of 22 carat gold was Rs 8,750 per gram, while the 24 carat gold was Rs 9,076 per gram.
Gold Prices in Delhi:
The capital recorded 22K gold at Rs 8,765 per gram, while 24K gold was available for Rs 9,091 per gram.
Gold Prices in Chennai:
Chennai’s gold rate was slightly lower, with 22K gold at Rs 8,750 per gram and 24K gold at Rs 9,076 per gram.
Gold Prices in Kolkata:
In Kolkata, 22 carat gold was priced at Rs 8,750 per gram, while 24 carat gold was sold at Rs 9,546 per gram.
Gold Prices in Bengaluru:
Bengaluru saw a 22k gold trade at Rs 8,750 per gram, while 24k gold was available for Rs 9,546 per gram.
Gold prices in Kerala:
Pune saw a 22k gold trade at Rs 8,750 per gram, while 24k gold was available for Rs 9,546 per gram.
