Gold and Silver price today (September 11, 2023): Precious metal trade in green; Gold near Rs 59,000; Silver above Rs 71,000

Gold and Silver price today (September 11, 2023): Precious metal futures traded in green on Monday. Gold traded near Rs 59,000 and Silver was over Rs 71,000.

Last seen, MCX gold futures (Oct 5) were flat at Rs 58,942 per 10 grams at the last count, having traded between Rs 58,930 and Rs 58,950 earlier in the day. Silver futures (Dec 5) were up 0.22 per cent or Rs 157 at Rs 71,720 per kg.

"Bullion's daily charts are looking good trading near the demand zone. Traders are advised to make fresh buy positions in Gold and Silver near given support level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for gold October futures at 58850/58600 and resistance at 59100/59300. For Silver December futures he sees support at 71500/70700 and resistance at 72300/73000.

In the international market, COMEX gold was up by 0.21 per cent at $1,946.8 per ounce.

"Gold is expected to trade range-bound ahead of the US CPI inflation data to be released on September 13. Support is at $1915/$1900 and resistance is at $1932/$1955," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Here's an indicative list of spot gold prices in some of the major Indian cities:   

City-wise gold price (24k) in India (September 11, 2023)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

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