Gold, silver price today (May 25, 2023): Precious metals trade under pressure — Should you buy or sell?
Gold rate today (May 25, 2023): MCX gold futures (June 5) were down 0.21 per cent or Rs 128 at Rs 59,732 per 10 grams. Here's what analysts suggest.
)
Gold rate today (May 25, 2023): Precious metal futures traded under pressure in the domestic market on Thursday, May 25.
MCX gold futures (June 5) were down 0.21 per cent or Rs 128 at Rs 59,732 per 10 grams at the last count, having traded between Rs 59,664 and Rs 59,760 earlier in the day. Silver futures (July 5) were down by 0.45 per cent or Rs 320 at Rs 70,766 per kg.
"Gold had weakened as had continued to trade with limited upside this week while minutes of the Fed meeting released yesterday led to a rise in Dollar Index and Treasury yields weighing on sentiments. Overall, we expect prices to continue to trade with a negative bias, although higher volatility cannot be ruled out towards the end of the week as Jobless claims & US PCE Index numbers could continue to provide fresh direction to prices for short-term perspective," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.
TRENDING NOW
She recommends selling gold June futures on rise at Rs 59,800 with a stop loss of Rs 60,000 and a target of Rs 59,500. For silver July futures she recommends selling on rise for Rs 71,000, with a stop loss of Rs 72,000 and a target of Rs 69,700.
In the international market, COMEX gold traded at $1,958 per ounce.
"The COMEX gold is trading lower in Asian trade after the minutes of the Fed’s May meeting showed on yesterday that policymakers were hesitant to hike rates further amid growing pressure on the banking sector and increased economic headwinds. The dollar Index is trading near the 104 level putting pressure on the yellow metal. The COMEX gold is having support near $1,48 and resistance at $1,965," said NS Ramaswamy, Head of Commodities, Ventura Securities.
Spot gold traded flat in the international market and stood at $1957 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 (May 25, 2023)
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)
Catch the latest stock market updates here. For more news on sports, politics follow Zee Business
10:31 am
Gold futures fall due to low demand
Gold price today (May 30, 2023) Yellow metal trades flat below Rs 60,000 — check out city wise prices in Mumbai, Delhi and other cities 
Gold, silver price today (May 29, 2023): Precious metals trades in green, gold hovers near Rs 60,000; should you buy or sell?
From last leg of Q4 results to global cues: 10 things to know before opening bell
Gold price today (May 26, 2023): Precious metals trades in green, gold hovers near Rs 60,000; What should investors do?