Gold and Silver price (September 6, 2023): Yellow metal trades lower as US dollar index strengthens; Silver above Rs 73,000
Gold and Silver price (September 6, 2023): MCX gold futures (Oct 5) were down 0.11 per cent or Rs 63 at Rs 59,180 per 10 grams. Here's what analysts suggest.
)
Gold and Silver price (September 6, 2023): Yellow metal traded under pressure as the US treasuries tumbled, thus pushing yields higher, which in turn boosted the US Dollar index.
Last seen, MCX gold futures (Oct 5) were down 0.11 per cent or Rs 63 at Rs 59,180 per 10 grams at the last count, having traded between Rs 59,165 and Rs 59,180 earlier in the day. Silver futures (Dec 5) were flat at Rs 73,480 per kg.
"At MCX, gold is having support at 59100-58950 and resistance at 59380-59550 while silver is having support at 73000-72650 and resistance at 73850-74200. We suggest selling gold around 59400 with a stop loss of 59565 for the target of 59100," said Manoj Kumar Jain, Head-Commodity and Currency Research at Prithvi Finmart.
"Bullion's daily charts are looking weak. Traders are advised to book their long positions and can make fresh short positions in Gold and Silver near the given resistance level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.
Khare sees support for gold October futures at 59200/59000 and resistance at 59500/59700. For Silver December futures he sees support at 73000/72500 and resistance at 74000/74600.
In the international market, COMEX gold was flat at $1,951 per ounce.
"Stronger than expected US ISM services data will weigh further on gold. Support is at $ 1915/$1900, while resistance is at $1955/$1965. Weaker than expected data may help gold erase some of its recent losses," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.
"Gold has support at $1945-1934, while resistance at $1966-1978 per troy ounce," said Jain.
Here's an indicative list of spot gold prices in some of the major Indian cities:
City-wise gold price (24k) in India (September 6, 2023)
City | Gold prices for 24k (10 grams) |
Mumbai | Rs 61,060 |
Delhi | Rs 61,185 |
Chennai | Rs 61,190 |
Kolkata | Rs 61,140 |
Bengaluru | Rs 61,215 |
Hyderabad | Rs 61,190 |
Ahmedabad | Rs 61,210 |
Bhopal | Rs 61,065 |
Visakhapatnam | Rs 61,190 |
Jaipur | Rs 61,060 |
Lucknow | Rs 61,020 |
Coimbatore | Rs 61,250 |
Madurai | Rs 61,250 |
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

New Tax Regime Slabs: Is your annual salary Rs 12,87,500? Do you need to pay tax on Rs 12,500 or Rs 12,87,500? See calculations to know

SBI Senior Citizen FD Rates: Know what PSU bank is giving on Rs 1,50,000, Rs 2,50,000, and Rs 3,50,000 investments in fixed deposits

Retirement Planning: How one-time investment of Rs 10,00,000 can create Rs 3,00,00,000 retirement corpus

Income Tax Calculations: What will be your tax liability if your salary is Rs 8 lakh, Rs 14 lakh, Rs 20 lakh, and Rs 26 lakh?

Top 7 SBI Mutual Fund MFs by One-time Investment Return: Rs 1 lakh has grown to Rs 2.85 lakh-3.48 lakh in 5 years; see list, compare SIP returns

Dearness Allowance (DA) Calculations: Is your basic monthly salary Rs 25,500, Rs 35,400, or Rs 53,100? Know how much DA will you get at different rates

Top 7 Gold ETFs & Mutual Funds With Best Returns in 3 Years: Rs 3.33 lakh one-time investment in No. 1 scheme has ballooned to Rs 5.66 lakh
09:12 AM IST