Gold and Silver price today (November 23, 2023): Precious metals trade higher; Gold near Rs 61,200

Gold and Silver price today (November 23, 2023): Domestic precious metal futures traded in green on Thursday.

Last seen, MCX gold futures (Dec 5) were up 0.25 per cent or Rs 155 at Rs 61,179 per 10 grams at the last count, having traded between Rs 61,033 and Rs 61,1579 earlier in the day. Silver futures (Dec 5) were up Rs 194 or 0.27 per cent at Rs 73,020 per kg.

"Overall with US markets being closed today on account of the Thanksgiving holiday volumes are expected to remain thin amid prices to stay subdued while bias may remain positive for short to medium-term perspective," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Qureshi recommends selling gold December futures on the rise at 61,200, keeping the stop loss at Rs 61,400 and a target price of Rs 60,900. For Silver December futures she recommends selling on the rise at Rs 73,000, with a stop loss of Rs 74,000 and a target of Rs 71,000.

"Bullions are looking strong, so traders are advised to make fresh buy positions in Gold and Silver near given support level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for Gold December futures at 60900/60700 and resistance at 61300/61500. For Silver December futures he sees support at 72700/71700 and resistance at 74000/74500.

In the international market, COMEX gold was up 0.17 per cent at $1996.1 per ounce.

Here's an indicative list of spot gold prices in some of the major Indian cities:   

City-wise gold price (24k) in India (November 23, 2023)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

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