Gold and Silver price today (October 25, 2023): Yellow metal flat; white metal trade lower
Gold and Silver price today (October 25, 2023): MCX gold futures (Dec 5) were down Rs 77 or 0.13 per cent at Rs 60,460 per 10 grams. Check out 24k gold price in Mumbai, Delhi and other cities.
Gold and Silver price today (October 25, 2023): Domestic precious metal futures traded on a subdued note on Wednesday amid Middle East tensions.
Last seen, MCX gold futures (Dec 5) were flat at Rs 60,548 per 10 grams at the last count, having traded between Rs 60,436 and Rs 60,557 earlier in the day. Silver futures (Dec 5) were down 0.14 per cent or Rs 99 at Rs 71,687 per kg.
"The broader outlook for the Gold price remains upbeat as Middle East tensions keep the safe-haven appeal intact. But in the immediate term, precious metal struggles to find a direction amid a delay in the ground assault plan by the Israeli military troops. This week, the release of the Q3 GDP, Durable Goods Orders, and core Personal Consumption Expenditure (PCE) price index for September will be keenly watched. It is expected the US economy to have grown by 4.2 p[er cent on an annualized basis, doubling the growth rate of 2.1 per cent in the former reading," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.
Telangana Election Result 2023 Date: Check date, time of counting of votes, results announcement of 200 Assembly seats
Whole Life Assurance (Suraksha): Post Office life insurance plan, sum assured up to Rs 50 lakh; loan; tax exemption; and more benefits
India Vs Australia 3rd T20I Free Live Streaming: When and Where to watch IND VS AUS T20I series Live Match on Mobile Apps, TV, Laptop, Online
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 72,000, with a stop loss of Rs 71,000 and a target of Rs 74,000.
"Bullion is looking strong and some further upside movement can be seen in near-future. 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 60300/60000 and resistance at 60700/61000. For Silver December futures he sees support at 71400/70500 and resistance at 72300/73000.
In the international market, COMEX gold was down 0.10 per cent at $1984.2 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 (October 25, 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.)