Gold and Silver price today (June 26, 2023): Precious metals trade in green; should you buy or sell?

Gold and Silver price today (June 26, 2023): Precious metal futures in the domestic market on Monday traded higher, with Gold above Rs 58,000 and Silver near Rs 70,000. 

MCX gold futures (Aug 4) traded flat at Rs 58,435 per 10 grams at the last count, having traded between Rs 58,402 and Rs 58,475 earlier in the day. Silver futures (July 5) were down 1.2 per cent or Rs 831 at Rs 69,935 per kg. 

"Overall, gold is expected to trade cautiously with a limited upside as additional headwinds persist, and macroeconomic cues from the US will be closely scrutinized for further price direction," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Qureshi recommends selling gold August futures on rise at Rs 58,500, with a stop loss of Rs 58,700 and a target of Rs 58,100. For Silver July futures also she recommends sell on rise for Rs 69,000, with a stop loss of Rs 70,000 and a target of Rs 67,500. 

In the international market, COMEX gold traded at $1,935.3 per ounce.

Spot gold was up 0.22 per cent in the international market and stood at $1,924.4 per ounce.

"Gold is expected to range trade between $1900 and $1950 with a downward bias in the near term as eventually theme of hawkish Central banks is likely to dominate the market unless we see major deterioration in key economies or an increased risk premia on the geopolitical front. It is to be noted that gold has already got huge risk premia embedded in its prices on the Russia-Ukraine war," 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 (June 26, 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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