Gold and Silver price today (November 2, 2023): Precious metals trade in green after U.S Fed keeps rate unchanged

Gold and Silver price today (November 2, 2023): Domestic precious metal futures traded positive on Thursday after U.S Fed decided to keep the interest rate on hold. 

Last seen, MCX gold futures (Dec 5) were up 0.22 per cent or Rs 134 at Rs 60,919 per 10 grams at the last count, having traded between Rs 60,851 and Rs 60,930 earlier in the day. Silver futures (Dec 5) were up 0.79 per cent or Rs 563 at Rs 71,861 per kg.

"Gold recovered amid decline in dollar and US Yields amid US Fed kept interest rates on hold while given no indication of a hike in December meeting as well supporting the bullions complex while interest rate futures now show probability of rate hike in December declining overnight, Overall sentiments to remain supportive for Gold in day trade today," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Qureshi recommends selling Gold December futures on the rise at 60,950, keeping the stop loss at Rs 61,200 and a target price of Rs 61,500. For Silver December futures she recommends selling on the rise at Rs 72,000, with a stop loss of Rs 73,000 and a target of Rs 70,000.

In the international market, COMEX gold was trading up 0.26 per cent at $1992.6 per ounce.

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

City-wise gold price (24k) in India (November 2, 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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