Tag: 24-CARAT GOLD

Gold prices today rose in India as the U.S. dollar and Treasury yields eased, while President Joe Biden‘s $2 trillion-plus jobs plan supported the yellow metal’s appeal as a hedge against inflation. The dollar index pulled back after hitting a five-month high on Wednesday, making gold less expensive for holders of other currencies.

On MCX Gold May futures rose 0.23% to trade at Rs 45,040 per 10 gram, while Silver May futures traded 0.29% lower at Rs 63,630 per kg. Spot gold fell 0.16% to $1,713.20 per ounce, after touching its lowest since March 8 at $1,677.61 on Wednesday. In India, spot gold plunged by Rs 49 to Rs 43,925 per 10 gram on Wednesday reflecting overnight selling in global precious metal prices.

Gold is having support at $1700-1688 per troy ounce and resistance at $1724-1738 per troy ounce. Silver is having support at $24.20-23.80 per troy ounce and resistance at $24.88-25.20 per troy ounce

In the first three months of this year, gold is down about ₹5,000 per 10 gram in Indian markets and as compared to all-time high of ₹56,200, hit in August last year, the precious metal has corrected ₹11,000 from those levels.

According to Good Returns, the price of 10 grams of 22-carat-gold declined by Rs 250 to stand at Rs 43,370 from the earlier rate of Rs 43,620. Similar to the rates of 22-carat yellow metal, a fall of Rs 250 was witnessed in the prices of 10 grams of 24-carat gold which stood at Rs 44,370 compared to the previous day rate of Rs 44,620.