Gold, Silver Prices Today, October 12: Yellow metal slips on MCX, Silver down by 1.50% - SELL call, check price target
Gold, Silver Prices Today: The precious metal was trading with weakness on the Multi-Commodity Exchange (MCX) at 10:30 AM
Gold, Silver Prices Today: Gold price extended fall on Wednesday amid the strengthening of the American dollar and mixed trend in international rates as traders await the US Federal Reserve minutes and inflation data. While the US Fed minutes will be released today, the inflation data will be declared later this week, giving an indication of the Fed's next rate hike.
The precious metal was trading with weakness on the Multi-Commodity Exchange (MCX) at 10:30 AM. MCX December Gold futures were trading at Rs 50800 per 10 gram, down by Rs 295 or 0.58 per cent.
Likewise, Silver was trading with around 1.50 per cent cut, near Rs 57600 per kg.
In the international market, gold was quoting lower at USD 1,664.20 per ounce while silver was down at USD 19.07 per ounce.
Motilal Oswal has given SELL call on Gold and Silver:
SELL MCX DEC - Rs 50980
STOP LOSS - Rs 51200
TARGET PRICE - Rs 50650
SELL MCX DEC - Rs 58050
STOP LOSS - Rs 58400
TARGET PRICE - Rs 57200
Meanwhile, the rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade amid the strengthening of the American currency and sustained foreign fund outflows. The international oil benchmark Brent crude futures declined 0.64 per cent to USD 93.70 per barrel.
Gold Price City-wise as of October 12, 2022 for 22k
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.