Gold Rate Today: Gold prices in India slip on US inflation uptick. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities
However the losses were capped on account of slippages in dollar index (DXY) which was hovering around 104.69 against a basket of six top global currencies, down by 0.07%.
The MCX October gold futures were trading down by Rs 45 or 0.08% from the Wednesday's closing price at Rs 58,548 per 10 gram on the MCX while the December Silver futures were trading at Rs 71,160 per kg, higher by Rs 259 or 0.61%.
On Comex, Gold futures were trading at $1,934 per troy ounce on Thursday, down by $1.10 or 0.06% while Silver futures were at $23.215, higher by $0.187 or 0.800%.
The October Gold futures had ended with declines of Rs 31 or 0.05% per 10 gram at Rs 58595 on Wednesday while the December Silver futures closed lower at Rs 71,410, down by Rs 524 per kg or 0.73%.
Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking sees bullions making bottom on the daily charts and trading near demand zone with momentum indicator RSI indicating the same.
His advice to investors is to make fresh buy positions in gold and silver futures near the support level of Rs Rs 58,500-58,300 while recommending profit booking near the resistance level of Rs 58,800-59,000.
Gold futures are down 1.32% or by Rs 781 on the month-to-date basis while they have gained 6.50% or by Rs 3,576 on the year-to-date basis, Anuj Gupta, Head Commodity & Currency at HDFC Securities, of HDFC Securities told ETMarkets.
As for silver futures, the declines are to the tune of 5.63% or Rs 4,263 in September while the gains this year stand at 2.89% or Rs 2,006, he said.
The physical price of gold in top Indian cities like Delhi and Ahmedabad is around Rs 59,700 per 10 gram while Rs 72,500 for silver.
Click to know more
Intraday Trading Strategy by Anuj
