Gold and Silver price today (August 9, 2023): Yellow metal futures on Wednesday traded marginally higher after credit rating agency Moody's downgraded 10 US regional banks which lead to a wider market fall and boosted the safe-haven demand.

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Last seen, MCX gold futures (Oct 5) were up 0.17 per cent or Rs 101 at Rs 59,349 per 10 grams at the last count, having traded between Rs 59,295 and Rs 59,356 earlier in the day. Silver futures (Sept 5) were up 0.48 per cent or Rs 334 at Rs 70,550 per kg. 

"Bullion's daily charts are trading at the demand zone. Good upside movement is possible in the near future. 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).

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