Gold rate today: Yellow metal futures hover around Rs 59,500 — check out spot gold price in Delhi, Mumbai, other cities

Gold rate today March 31: The futures contract of the yellow metal due for expiry on April 5 traded higher by Rs 164 or 0.3 per cent at Rs 59,480 per 10 grams on MCX, having moved within a range of Rs 59,384-59,530 earlier in the day.

MCX silver futures (May 5) were up by Rs 330 or 0.5 per cent at Rs 72,104 per kilogram.

Gold price target: What analysts recommend on gold

"Not very bullish" on gold, Alpha Quantum Capital Management Founder and CEO Sanjeev Agarwal told Zee Business that in his view, the spot gold rate is likely to around $2,000-$2,050 levels.

There is market rumour that gold prices will reach Rs 75,000 per 10 grams by the end of the year, but the current rally is not likely to extend beyond April, he said.  

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City-wise gold price (22k) in India (March 31, 2023)

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

(Disclaimer: These gold rates above are indicative and do not include GST, TCS and other levies.)

Global gold price

Spot gold edged up and was on track to clock its best monthly performance since July 2020, as the recent banking system crisis led to expectations of a less-aggressive fed, making bullion an attractive bet. It was last up 0.1 per cent at $1,981.6 per ounce. US gold futures were up 0.1 per cent at $1,982.

(With inputs from Reuters) 

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