Gold and Silver price (September 4, 2023): Precious metal traded in green; Gold above Rs 59,000; Silver above Rs 75,000

Gold and Silver price (September 4, 2023): Precious metal futures on Monday traded in the green. 

Last seen, MCX gold futures (Oct 5) were up Rs 121 or 0.2 per cent at Rs 59,516 per 10 grams at the last count, having traded between Rs 59,516 and Rs 59,570 earlier in the day. Silver futures (Dec 5) were up 0.2 per cent or Rs 147 at Rs 75,236 per kg.

"Bullion's daily charts are showing some profit booking. Traders are advised to book their long positions and can make fresh short positions in Gold and Silver near the given resistance level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for gold October futures at 59200/59000 and resistance at 59500/59700. For Silver December futures he sees support at 74500/74000 and resistance at 75600/76200.

In the international market, COMEX gold was flat but in red at $1,967.1 per ounce.

"Gold bulls may attempt to test $1965 resistance in the near term. Interim resistance comes at $1955. Support is at $1931/$1914. Overall, dip buying is expected to be a preferred trade," 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 4, 2023)

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

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.