Gold and silver rates (April 5, 2023): Domestic gold prices on Wednesday remained near record levels touched the previous day amid sustained weakness in the dollar overseas, making the precious metal more attractive for holders of other currencies.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

On MCX, gold futures (June 5) gained by as much as Rs 129 or 0.2 per cent to Rs 61,083 per 10 grams, coming within Rs 65 of a record high scaled in the evening session on Tuesday. 

In the international market, spot gold edged 0.1 per cent higher to $2,021.8 per ounce. 

“Poor US economic data led to weakness in the dollar index, which further supported the rally in gold and silver. The momentum in gold and silver will continue," said Manoj Kumar Jain, Director-Head-Commodity and Currency Research at Prithvi Finmart.

What analysts recommend on gold 

Jain recommends buying gold on dips around Rs 60,600 for a target of Rs 61,300 with a stop loss at Rs 60,300.   

ALSO READ: Gold rate soars to all-time high; MCX yellow metal futures cross Rs 61,000 mark for first time ever 

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

City-wise gold price (22k) in India (April 5, 2023) 

City Gold price (22k)
Chennai Rs 56,010
Mumbai Rs 55,310
Delhi Rs 55,460
Kolkata Rs 55,310
Bangalore Rs 55,360
Hyderabad Rs 55,310
Kerala Rs 55,310
Pune Rs 55,310
Vadodara Rs 55,360
Ahmedabad Rs 55,360
Jaipur Rs 55,460
Lucknow Rs 55,460
Coimbatore Rs 56,010
Madurai Rs 56,010
Vijayawada Rs 55,310
Patna Rs 55,360
Nagpur Rs 55,310
Chandigarh Rs 55,460
Surat Rs 55,360
Bhubaneswar Rs 55,310
Mangalore Rs 55,360
Visakhapatnam Rs 55,310
Nashik Rs 55,340

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.