Gold Prices Today: Gold futures continued to trade higher on Wednesday, October 20. On the Multi Commodity Exchange (MCX), gold futures due for a December 3 delivery, were last seen trading higher by 0.41 per cent – at ₹ 47,477, compared to the previous close of ₹ 47,280.
Gold Prices Today: Gold, Silver Prices Rise
Gold Prices Today: Silver futures due for a December 3 delivery were last up 0.51 per cent at ₹ 64,784 against a previous close of ₹ 64,450. Domestic spot gold with purity of 24 carats opened at ₹ 47,546 per 10 grams on Wednesday, and silver at ₹ 64,422 per kilogram – both rates excluding GST (goods and services tax), according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
On the global front, gold prices, however, edged lower as the metal’s shine was dented by surging U.S. bond yields. Spot gold fell 0.1 per cent to $1,767.71 per ounce and U.S. gold futures dropped 0.1 per cent to $1,768.40. The U.S. dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.06 per cent to 93.67.
Gold Prices Today
Ravi Singh, Vice President and Head of Research, ShareIndia: “Gold MCX traded in a range bound zone yesterday taking cues from global market. However, the volatility was higher due to the movement in U.S. dollar. We expect gold to trade sideways to up in the coming week. In MCX, gold has a support at ₹ 46,900 and resistance at ₹ 47,650.” He added, “Buy Zone above – ₹ 47,300 for the target of ₹ 47, 650; Sell Zone below – ₹ 46,900 for the target of ₹ 46,600.”
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