Today, 24-carat pure gold has become cheaper in the bullion markets and closed at Rs 51451 per 10 grams, while the rate of silver (silver price today) has strengthened by Rs 63.
Gold Price Today: There was a fall in gold prices today. Gold has become cheaper for the third day in a row. On the Multi Commodity Exchange (MCX), gold futures fell 0.28% to Rs 51,387 per 10 grams, while silver futures rose 0.5% to Rs 66,623 per kg. Gold prices have fallen due to the stabilization of the US dollar in the global market today. Spot gold was down 0.2% at $1,929.31 an ounce.
The dollar index held steady at 98.960 after three consecutive sessions of gains today. Last month, gold rates in the domestic markets had touched a high of Rs 55,600 per 10 grams. Accordingly, gold has become cheaper by about Rs 4000 so far. At the same time, among other precious metals on MCX, spot silver rose 0.6% to $24.64 an ounce, while platinum fell 0.6% to $980.36.
The condition of the bullion market:
Today, 24-carat pure gold has become cheaper by Rs 61 and closed at Rs 51451 per 10 grams in the bullion markets, while the silver rate has strengthened by Rs 63. The closing price of silver today stood at Rs 66468 per kg.
What do experts say?
Analysts say gold will trade in the range of 52,000-50,000. Rahul Kalantri, VP Commodities, Mehta Equities said, “Gold may remain at ₹51,220–50,980, while resistance lies at ₹51,880–52,085. Support for silver lies at ₹65,850- 65,280 while resistance lies at ₹67,100-67510.”
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