Gold and Silver Rate Update (March 27, 2025)

On March 27, 2025, gold and silver prices experienced an upward trend amid ongoing global uncertainties. This increase was fueled by heightened investor interest and revised optimistic forecasts from the global investment bank Goldman Sachs.

On the Multi Commodity Exchange (MCX), gold futures rose by 0.38 percent, adding Rs 332 to reach Rs 87,970 per 10 grams. Similarly, silver March futures increased by 0.25 percent, or Rs 250, bringing the price to Rs 99,736 per kilogram.

The performance of gold showed some mixed signals internationally. The June gold futures contract slightly decreased to $3,052.30 per troy ounce, a decline of 0.07 percent. Contrastingly, the May silver futures gained 0.10 percent, closing at $34.222 per troy ounce in global markets.

In domestic trading, the April gold contract ended at Rs 87,638, reflecting a modest rise of 0.10 percent. Meanwhile, the May silver contract concluded at Rs 99,486 per kilogram, marking an increase of 0.34 percent. Wednesday's trading session was marked by significant price fluctuations, driven by a stronger U.S. dollar index that surpassed 104 and rising U.S. bond yields, which hit 4.33 percent. Concerns regarding U.S. stock market performance and trade tariffs pushed investors toward safe-haven assets like gold and silver.

Goldman Sachs Raises Gold Price Forecast

In a notable update, Goldman Sachs adjusted its year-end 2025 gold price target to $3,300 per ounce, increased from its earlier estimate of $3,100. The bank highlighted stronger-than-expected inflows into exchange-traded funds (ETFs) and ongoing purchases by central banks, particularly in large Asian economies.

The revised analysis predicts monthly central bank purchases will rise to an average of 70 tonnes, up from the previously estimated 50 tonnes. This increase is attributed to ongoing uncertainty in U.S. policies and aggressive gold accumulation strategies by China.

Goldman Sachs has updated its price range for gold to $3,250–$3,520, previously set at $3,100–$3,300. The bank foresees possibilities where a cycle of rate cuts by the Federal Reserve or a surge in gold ETF holdings could elevate prices further, potentially reaching $3,410 or $3,680 per ounce.

The firm also outlined two potential events that might lead to short-term selling pressure: the establishment of a peace agreement between Russia and Ukraine, and a sudden drop in equity markets causing margin-driven liquidations. Despite these scenarios, Goldman Sachs maintains a recommendation for long positions in gold, with the expectation that any adverse impacts will be temporary due to strong ongoing demand.

Expert Insights

Manoj Jain, Director at India Nivesh, provided an analysis indicating that precious metals had a mixed performance due to international volatility. He noted that positive data on U.S. durable goods orders for February prompted some profit-taking among investors. However, concerns over trade tariffs and tensions in the Middle East continue to bolster the attractiveness of gold and silver.

Looking ahead, he anticipates ongoing volatility in the market, suggesting key support levels for gold and silver at $2,950 and $31.40 per ounce, respectively. Jain identifies resistance levels for gold between $3,068 and $3,080, while silver's resistance is in the range of $34.50 to $34.80. On the MCX, he highlights support levels for gold at Rs 87,400–87,180 and resistance at Rs 87,850–88,100, alongside silver's support at Rs 98,800–98,220 and resistance near Rs 1,00,200–1,01,000. Jain recommends buying silver around Rs 98,800 with a stop loss at Rs 98,220, aiming for a target of Rs 1,00,200.

City-Specific Gold Prices in India (March 27, 2025)

Gold prices differ across various cities in India due to local taxes and demand variations:

• Mumbai: Rs 8,984 (24K), Rs 8,235 (22K), Rs 6,738 (18K) per gram
• Chennai: Rs 8,984 (24K), Rs 8,235 (22K), Rs 6,800 (18K) per gram
• Bangalore: Rs 8,984 (24K), Rs 8,235 (22K), Rs 6,738 (18K) per gram
• Hyderabad: Rs 8,984 (24K), Rs 8,235 (22K), Rs 6,738 (18K) per gram
• Kolkata: Rs 8,984 (24K), Rs 8,235 (22K), Rs 6,738 (18K) per gram

Gold, Silver, Market