Gold and Silver price today (November 20, 2023): Yellow metal trades flat above Rs 60,700; white metal above Rs 73,000
Gold and Silver price today (November 20, 2023): MCX gold futures (Dec 5) were flat at Rs 60,719 per 10 grams at the last count. Check out the 24k gold price in Mumbai, Delhi and other cities
Gold and Silver price today (November 20, 2023): Domestic yellow metal futures traded flat with a positive bias on Monday after China's Central Bank, in its monetary policy decision, left the one-year and five-year Loan Prime rates unchanged.
Last seen, MCX gold futures (Dec 5) were flat at Rs 60,719 per 10 grams at the last count, having traded between Rs 60,719 and Rs 60,751 earlier in the day. Silver futures (Dec 5) were down Rs 131 or 0.18 per cent at Rs 73,009 per kg.
"Gold might start the week on a positive note driven by lower yields and weakness seen in the dollar index. US treasury auctions and FOMC meeting minutes could remain the major focus on signs of the market looking for hints of interest rate cuts as early as next quarter," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.
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Qureshi recommends buying gold December futures on dips at 60,700, keeping the stop loss at Rs 60,300 and a target price of Rs 61,200. For Silver December futures she recommends buying on dips at Rs 73,000, with a stop loss of Rs 72,000 and a target of Rs 75,000.
"Bullion is looking strong and traders are advised to make fresh buy positions in gold and silver near the given support level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.
Khare sees support for Gold December futures at 60600/60300 and resistance at 61000/61200. For Silver December futures he sees support at 73000/72000 and resistance at 74000/74500.
In the international market, COMEX gold was flat with a positive bias at $19885.2 per ounce.
"Yellow metal is expected to be range-bound in the near term; it may need persistent weakness in the major US macroeconomic data to move above $2010," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.
Here's an indicative list of spot gold prices in some of the major Indian cities:
City-wise gold price (24k) in India (November 20, 2023)
|Cities||Gold prices for 24k (10 grams)|
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)