Gold Price- MCX gold trades steady; Support seen at Rs 60920-60760, resistance at Rs 61280-61470

Gold Price: MCX gold trades steady; Support seen at Rs 60920-60760, resistance at Rs 61280-61470

Gold Price Today, Gold Price Outlook, Gold Price Forecast: MCX gold prices are trading higher on Friday, while Silver rates traded flat. On the Multi Commodity Exchange, gold December futures were trading at Rs 61,150 per gram, up Rs 78 or 0.13%. Silver December futures are trading flat at Rs 72,900 per kg, up merely Rs 2 on the MCX.

Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker US dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes, according to Reuters. Spot gold held ground at $1,992.73 per ounce. Bullion has risen 0.7% this week. US gold futures were little changed at $1,993.60.

Rahul Kalantri, VP of Commodities, Mehta Equities believes that the US manufacturing PMI data which is scheduled for release later today could provide guidance for the precious metals market. “Anticipate continued volatility in today’s session for both gold and silver. Gold finds support at $1981-1968, with resistance at $2008-2021. Meanwhile, silver has support at $23.48-23.32 and resistance at $23.86-24.05. In terms of INR, gold has support at Rs 60,920-60,760 and resistance at Rs 61,280, 61,470. Silver’s support in INR is at Rs 72,050-71,380, and resistance stands at Rs 73,570, 74,130,” Rahul Kalantri added.

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https://www.financialexpress.com/gold-rate-today/