Gold and Silver price today (September 26, 2023): Precious metal trade under pressure; Gold helds Rs 58,630 level
Gold and Silver price today (September 26, 2023): MCX gold futures (Oct 5) were down Rs 71 or 0.12 per cent at Rs 58,630 per 10 grams. Check out 24k gold price in Mumbai, Delhi and other cities.
Gold and Silver price today (September 26, 2023): Precious metal futures traded lower on Tuesday, Gold held Rs 58,630 level and Silver hovered near Rs 71,900.
Last seen, MCX gold futures (Oct 5) were down Rs 71 or 0.12 per cent at Rs 58,630 per 10 grams at the last count, having traded between Rs 58,616 and Rs 58,675 earlier in the day. Silver futures (Dec 5) were down 0.44 per cent or Rs 320 at Rs 71,830 per kg.
"Gold prices witnessed limited upside yesterday as came under renewed pressure on surging yields and elevated dollar index. Traders are looking ahead to a key US inflation report due this week that’s expected to show a deceleration in consumer- price growth. Also consumer spending would be a key indicator to watch out for to gauge strength in US economy which could show numbers drop for August month but still above consensus forecast could remain positive for dollar," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.
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Qureshi recommends selling Gold October futures on rise at 58,750, keeping the stop loss at Rs 59,000 and a target price of Rs 58,300. For Silver December futures she recommends sell on rise at Rs 72,000, with a stop loss of Rs 73,000 and a target of Rs 70,000.
In the international market, COMEX gold was down 0.21 per cent at $1,932.4 per ounce.
"Today's data docket includes the US housing price index (July), new home sales (August), and Conference Board Consumer Confidence (September). Total known global gold ETF holdings increased for the first time in seventeen days on September 22. Support is at $1913/$1900/$1885, whereas resistance is at $1926/$1929/$1942," 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 (September 26, 2023)
|City||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.)