Gold and Silver price today (August 22, 2023): Yellow metal hovers near Rs 59,000; Silver above Rs 71,000
Gold and Silver price today (August 22, 2023): Precious metals trade with caution as a rise in 10Y Yields along with China demand slowdown concerns continued to weigh on sentiments. Should you buy or sell?
Gold and Silver price today (August 22, 2023): Yellow metal futures on Tuesday traded with a cautious upside as a rise in 10Y Yields along with China demand slowdown concerns continued to weigh on sentiments.
Last seen, MCX gold futures (Oct 5) were flat at Rs 58,501 per 10 grams at the last count, having traded between Rs 58,500 and Rs 58,528 earlier in the day. Silver futures (Sept 5) were flat at Rs 71,675 per kg.
"Gold could continue to trade with cautious upside as a rise in 10Y Yields along with China demand slowdown concerns could continue to weigh on sentiments. Overall, any short-term upside in prices could be considered as a selling opportunity ahead of the Jackson hole event scheduled to start tomorrow which could be the most watched event for any clues on interest rates while Silver may remain volatile ahead of same," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.
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