Gold and Silver price today (July 21, 2023): Precious metals trade flat; gold hovers near Rs 60,000

Gold and Silver price today (July 21, 2023): Precious metal futures in the domestic market on Friday traded flat, with Gold near Rs 60,000 and Silver above Rs 75,000. 

MCX gold futures (Aug 4) were flat at Rs 59,559 per 10 grams at the last count, having traded between Rs 59,543 and Rs 59,559 earlier in the day. Silver futures (Sept 5) were flat at Rs 76,510 per kg. 

In the international market, COMEX gold traded at $1,972.2 per ounce.

Spot gold was flat in the international market and stood at $1,969.2 per ounce.

"The US Dollar Index faces a strong resistance level in the 100.80-101 zone, though European currencies appear to be vulnerable, thus gold is expected to be on the defensive. Apart from the rate cut notion, which is influencing yields and dollars significantly, gold presently does not have any specific factors to support it. In the absence of safe haven demand, the metal is trading like a risk asset or any other commodity for that matter. Gold has support at $1965 followed by $1950, while resistance is at $1985/$2000," 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 (July 21, 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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