Gold Price Today: MCX Gold Rate Falls Near ₹96,500; Should You Buy or Book Profit?
On July 7, 2025, domestic gold prices witnessed a marginal decline, with the Multi Commodity Exchange (MCX) gold futures trading near ₹96,500 per 10 grams. This dip has raised a critical question among investors and traders: Is this a buying opportunity or the time to book profits?
📉 Gold Price Update
MCX Gold August Futures: ₹96,480 per 10 gm, down by 0.4%
MCX Silver September Futures: ₹1,22,750 per kg, marginally lower
Spot prices remain stable but under slight pressure due to global trends
📊 Why Are Gold Prices Falling?
Several factors have contributed to the minor correction in domestic gold prices:
Stronger US Dollar: A rebound in the US dollar index has weighed on gold globally
Profit-Booking: After touching ₹97,200 levels last week, traders are booking profits
Bond Yields: Firm US treasury yields are reducing gold's appeal as a non-yielding asset
Awaited Economic Data: Investors are cautious ahead of key US inflation and employment numbers
💡 Expert View: Buy or Book Profit?
Analysts remain cautiously optimistic about gold in the medium term. Here's what they suggest:
Short-Term View:
Traders with recent long positions may consider booking partial profits at current levels due to resistance near ₹97,000.
Buy on Dips Strategy:
If gold corrects further towards ₹95,800–₹96,000, long-term investors may consider accumulating with a horizon of 6–12 months.
“Gold is still in a bullish trend long term, supported by geopolitical risks, global inflation concerns, and central bank buying,” said a commodities strategist.
🔑 Technical Outlook
Support Level: ₹95,800
Resistance Level: ₹97,200
Momentum Indicator (RSI): Near neutral, suggesting consolidation phase
✅ FAQs:
Q1. Why did gold prices drop today on MCX?
Gold prices fell due to a stronger US dollar, profit-booking by traders, and firm bond yields that reduced gold’s near-term appeal.
Q2. Is it a good time to buy gold now?
Experts advise buying in phases. Investors may wait for a further dip toward ₹95,800–₹96,000 before accumulating.
Q3. Should I book profits in gold holdings?
If you entered around lower levels and are sitting on gains, partial profit booking near ₹97,000 is advisable for short-term traders.
Q4. What are the global cues affecting gold?
Gold is reacting to the US dollar index, treasury yields, and anticipation of US economic data. Geopolitical tensions and inflation remain key long-term drivers.
Q5. How is silver performing compared to gold?
Silver futures also showed slight weakness but remain supported by industrial demand trends. The gold-silver ratio remains steady.
Published : On 7th July
Published : Pankaj
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