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. 

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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. 

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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) 

City Gold prices for 22k
Chennai Rs 56,910
Mumbai Rs 56,260
Delhi Rs 56,410
Kolkata Rs 56,260
Bangalore Rs 56,310
Hyderabad Rs 56,260
Kerala Rs 56,260
Pune Rs 56,260
Vadodara Rs 56,310
Ahmedabad Rs 56,310
Jaipur Rs 56,410
Lucknow Rs 56,410
Coimbatore Rs 56,910
Madurai Rs 56,910
Vijayawada Rs 56,260
Patna Rs 56,310
Nagpur Rs 56,260
Chandigarh Rs 56,410
Surat Rs 56,310
Bhubaneswar Rs 56,260
Mangalore Rs 56,310
Visakhapatnam Rs 56,260
Nashik Rs 56,290

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

 

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