Gold and silver rates (April 12, 2023): Precious metals trade in green ahead of the US CPI data release

Gold and silver rates (April 12, 2023): Precious metals on Wednesday (April 12) inched higher ahead of the US Consumer Price Index (CPI) data release. 

On MCX, gold futures (June 5) was up by Rs 354 or 0.59 per cent to Rs 60,859 per 10 grams. Meanwhile, Silver futures (May 5) was up by Rs 725 or 0.5 per cent at Rs 74,696.

"The COMEX gold is trading higher in Asian hours supported by safe-haven buying after Minneapolis Federal Reserve President Neel Kashkari flagged a potential recession this year. The market participants also await U.S. CPI data later in the day. The dollar index is trading below the 102 mark supported by the yellow metal. The COMEX gold is having support near $2,020 and resistance at $2,042," said NS Ramaswamy, Head of Commodities, Ventura Securities.

In the international market, Comex gold traded in the green, up by 0.66 per cent to $2,032.40 per ounce.

ALSO READ: US CPI Data for March: Release date, time, all you need to know 

Spot gold traded 0.67 per cent higher in the international market and stood at $2017.2.

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

City-wise gold price (22k) in India (April 12, 2023) 

(Disclaimer: These are indicative prices collected from trusted sources. Investors are recommended to check prices with their jeweller before investing/purchasing.)

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