Gold and Silver price today (June 28, 2023): Yellow metal trades flat, Silver near Rs 70,000

Gold and Silver price today (June 28, 2023): Precious metal futures in the domestic market on Wednesday traded higher, with Gold above Rs 58,000 and Silver near Rs 70,000. 

MCX gold futures (Aug 4) traded flat at Rs 58,162 per 10 grams at the last count, having traded between Rs 58,162 and Rs 58,190 earlier in the day. Silver futures (July 5) were down 0.16 per cent or Rs 112 at Rs 69,453 per kg. 

In the international market, COMEX gold traded at $1,924.8 per ounce.

Spot gold was up 0.29 per cent in the international market and stood at $1,914.7 per ounce.

"Today's data docket includes the US advance goods trade balance (May) and Germany's Gfk consumer confidence (July). In addition, investors look forward to the views of Federal Reserve Chair Powell and Bank of England's Governor Bailey at the Central Banking forum in Sintra today," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

He added Downside pressure on the yellow metal continues to exist. US yields will be closely watched by investors. Key support for the metal is around $1900 followed by $1870, while $1940-$1950 is a key supply zone. The outlook remains weak. 

Here's an indicative list of spot gold prices in some of the major Indian cities:   

City-wise gold price (24k) in India (June 28, 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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