Gold Price Today: Gold Trades Flat, Buy On Dips, Target 49,050

Gold Price Today: Gold was flat in the Indian market on May 27 following a muted trend in international spot prices, which were below their four-and-a-half-month high hurt by an uptick in the US dollar and bond yields.

Gold Price Today

On the Multi-Commodity Exchange (MCX), June gold contracts were trading higher by 0.02 percent at Rs 48,795 for 10 grams at 0930 hours. July silver futures were trading 0.02 percent lower at Rs 71,396 a kilogram.

Spot gold was down 0.1 percent at $1,894.88 an ounce after hitting its highest since January 8 at $1,912.50 on May 26, a Reuters report said. The dollar index rose to a one-week high against rivals, making gold more expensive for other currency holders.

Silver and gold price today had a roller coaster ride on May 26, as both precious metals gained in the early session but a rebound in the dollar index erased the gains late evening. Both settled on a mixed note in international markets. June gold futures contract settled at $1,901.20 per and July silver at $27.88 a troy ounce.

Gold Forecast
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