Gold and Silver price (September 5, 2023): Precious metal trade in red- check out Gold price in Mumbai, Delhi and other cities

Gold and Silver price (September 5, 2023): Precious metal futures traded in the red in the morning deals. Gold traded flat above Rs 59,000 and Silver was over Rs 74,000.

Last seen, MCX gold futures (Oct 5) were flat at Rs 59,363 per 10 grams at the last count, having traded between Rs 59,347 and Rs 59,384 earlier in the day. Silver futures (Dec 5) were down 0.44 per cent or Rs 326 at Rs 74,195 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 given resistance," 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 74000/73500 and resistance at 75000/75600.

In the international market, COMEX gold was down by 0.21 per cent at $1,962.9 per ounce.

"Today's macroeconomic calendar has got final August readings of services PMI and composite PMI of Germany, UK, and Euro-zone as the major releases, while the US data include factory orders (July) and durable goods orders (July final). Apart from these important data, investors will look forward to the ECB's one and three-year inflation expectations, too.  Support for the yellow metal is at $1931/$1915, while resistance is at $1954/$1965. Dip buying is favoured," 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 5, 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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