Gold Silver Price Today On Tuesday, traders created fresh positions due to strong demand in the spot market, due to which gold rose by Rs 40 to Rs 60,041 per 10 grams in futures trade on Tuesday.

New Delhi, Gold Price Today: Gold rate continues to rise. Due to the increase in the rate of gold before the wedding season, the possibility of messing up the budget of the middle class is getting stronger. Gold on Tuesday rose by Rs 440 to Rs 60,580 per 10 grams in the bullion market amid a rise in the prices of precious metals globally.

In the previous trade, gold had closed at Rs 60,140 per 10 grams. Silver declined by Rs 360 to close at Rs 75,240 per kg. In the international market, gold was trading higher at $1,988.80 an ounce and silver was trading marginally lower at $25.01 an ounce.

Overall, gold is trading stable, supported by a weakening dollar. Investors look forward to this week’s US economic data to assess the Federal Reserve’s next policy.

What is the rate of gold and silver

At the Multi Commodity Exchange, gold in June contract rose by Rs 40, or 0.07 per cent, to Rs 60,041 per 10 grams in a business turnover of 15,417 lots. Gold prices strengthened in futures trade in line with a firm global trend. Globally, gold was trading 0.01 per cent higher at $2,000.10 an ounce in New York.

Silver futures on Tuesday declined by Rs 389 to Rs 74,607 per kg as traders reduced positions. On the Multi Commodity Exchange, silver for delivery in May declined by Rs 389, or 0.52 per cent, to Rs 74,607 per kg in a business turnover of 8,376 lots.

why gold price is volatile

Gold prices opened with gains in the international and domestic commodity markets today on the back of a weakening US dollar and 25 bps interest rate hike by the US Fed. On the Multi Commodity Exchange (MCX), gold futures for June 2023 opened at Rs 60,033 per 10 grams and touched a high of 60,106 within minutes of the opening bell.

According to commodity market experts, gold is likely to trade in the range of $1,975-$2,010 an ounce and may move towards $2,050 levels if it overcomes the immediate overheads. Gold prices on MCX is expected to test Rs 60,900 per 10 grams in the near term, provided the bearish trend against the US dollar continues further.

gold support and resistance

Gold has immediate support at Rs 59,700 per 10 grams on MCX, while longer term support for the yellow metal lies at Rs 58,500 per 10 grams level. Gold price may move towards Rs 60,200 and Rs 60,900 per 10 grams in the near term.