MCX Gold Support at 49700 | Dabba Trading

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate and silver rate were trading weak in India on Thursday, on the back of strength in US Dollar. On Multi Commodity Exchange, gold October futures were trading flat to negative at Rs 50000 per 10 grams, as against the previous close of Rs 49420. Silver December futures were ruling Rs 96 or 0.2 per cent down at Rs 58060 per kg on MCX. Globally, yellow metal prices fell 1% as the dollar rose sharply after the US Federal Reserve increased interest rates by another 75 basis points and flagged more hikes, according to Reuters. Spot gold dropped 1% to $1,671 per ounce, and U.S. gold futures fell 0.5% to $1,665.

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