Gold and Silver price today (September 27, 2023): Precious metal futures traded lower on Wednesday amid strong US yields. Gold held Rs 58,300 level and Silver hovered near Rs 71,300. 

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Last seen, MCX gold futures (Oct 5) were down Rs 85 or 0.15 per cent at Rs 58,347 per 10 grams at the last count, having traded between Rs 58,616 and Rs 58,675 earlier in the day. Silver futures (Dec 5) were down 0.74 per cent or Rs 532 at Rs 71,245 per kg.

"Overall sentiments to stay cautious in day trade today ahead of US Durable Goods order scheduled later in the day," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

Qureshi recommends selling Gold October futures on rise at 58,550, keeping the stop loss at Rs 58,800 and a target price of Rs 58,000. For Silver December futures she recommends sell on rise at Rs 72,000, with a stop loss of Rs 73,000 and a target of Rs 70,000.

"Bullion's daily charts are trading at the demand zone looking good from here, so traders are advised to make fresh buy positions in Gold and Silver near the given support level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

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