Gold rate today (March 29): Yellow metal futures near Rs 59,000 again — compare spot gold prices in Delhi, Mumbai, and other cities
Gold silver rates (March 29, 2023): The April futures of the yellow metal traded lower in morning deals on Wednesday, hovering around the Rs 58,900 per 10 grams mark. Here's what analysts suggest on gold.
Gold silver rates (March 29, 2023): The precious metal futures on Wednesday, March 29, traded lower, last seen trading down by Rs 92 or 0.16 per cent on MCX at Rs 58,950 per 10 grams. Earlier in the day, the near-term gold futures contract moved within a range between Rs 58,870 and Rs 58,970.
MCX silver futures (May 5) were down by Rs 106 or 0.15 per cent at Rs 70,478 per kilogram.
Kunal Shah, Head of Commodities Research, Nirmal Bang recommended buying gold on dips, "Buy gold on dips at the Rs 58,500 to Rs 58,600 levels and don't short. The price of gold could go up in a week and investors should buy and then sell while trading."
He added there is profit booking in gold as uncertainties from the US banking have reduced and the fundamentals of gold are strong.
The rupee was up at 82.26 against the US dollar.
In the international market, spot gold was down 0.37 per cent at $1,966.50per ounce, and spot silver down by 0.16 per cent at $23.37per ounce.
What analysts recommend on gold & silver
IIFL Securities has recommended buying MCX Gold April futures at Rs 58,800, keeping a stop loss of Rs 58,450 and a Target of Rs 59,500.
Meanwhile, the brokerage has given a ‘buy’ on MCX Silver May futures at Rs 70,000, with a Stop Loss of Rs 69,550 and has given a target of Rs 71,100
Here's an indicative list of spot gold prices in some of the major Indian cities:
City-wise gold price (22k) in India (March 29, 2023)
|City||Gold prices for 22k|
(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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