Gold and Silver price today (August 24, 2023): Precious metals trade in red; Gold hovers near Rs 59,000; Silver above Rs 73,000

Gold and Silver price (August 24, 2023): Precious metal futures traded in the red on Thursday a day after the United Kingdom, the US, and Euro-zone released the purchase managers' index (PMI) data. 

Last seen, MCX gold futures (Oct 5) were flat at Rs 58,800 per 10 grams at the last count, having traded between Rs 58,800 and Rs 58,804 earlier in the day. Silver futures (Sept 5) were down Rs 194 or 0.26 per cent at Rs 73,810 per kg.

In the international market, COMEX gold was flat at $1,948.9 per ounce.

"Although the US Dollar Index fell sharply from the day's peak yesterday, the Greenback is still expected to do better than its peers on account of the fact that the US economy is doing better than the European economics, thus the Dollar Index may surge yet again. Support for the yellow metal is at $1908 followed by $1900/$1885. Resistance is at $1932/$1950. 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 (August 24, 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.