Gold and silver rates (April 6, 2023): Yellow metal trades in red, hovers near record high – Check out prices in Mumbai, Delhi and other cities

Gold and silver rates (April 6, 2023): Domestic gold prices on Thursday declined after crossing the Rs 61,000 mark per 10 grams in the previous day’s trade. 

On MCX, gold futures (June 5) was down by Rs 263 or 0.43 per cent to Rs 60,593 per 10 grams. Meanwhile, Silver futures (May 5) was down by Rs 242 or 0.32 per cent at Rs 74,313.

“Gold and silver have tested their highs in yesterday's trade and investors should buy on dips,” said Anuj Gupta, VP, IIFL Securities.

He added the dollar index can test 100 levels.

In the international market, spot gold declined 0.43 per cent to $2,011.40 per ounce. 

Also Read: RBI MPC Meeting LIVE: Is another repo rate hike coming? Shaktikanta Das to reveal MPC's rate decision at 10 am today 

What analysts recommend on gold?

Gupta recommends buying gold on dips around Rs 60,500 with a target of Rs 60,150 while keeping the stop loss at Rs 61,200.

Further, he suggested buying silver on dips at Rs 73,800 with a target of Rs 75,000 and a stop loss of Rs 73,000. 

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

City-wise gold price (22k) in India (April 6, 2023) 

(Disclaimer: These are indicative prices collected from trusted sources. Investors are recommended to check prices with their jeweller before investing/purchasing.)

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