Gold prices top Rs 54,000 on MCX first time since mid-April - Buy call; check rates in Delhi, Mumbai, Kolkata, Patna and other cities
Gold rate today: This is the first time since in the past six months when the Gold price on MCX has topped Rs 54,000.
Gold price today: Gold prices on Monday, December 5, continued their uptrend to hit a five-month high. On MCX, gold futures (February) rose 0.36 per cent to breach the crucial resistance level of Rs 54,000 per 10 grams. This is the first time since in the past six months when the Gold price on MCX has topped Rs 54,000.
The buying in the precious metal was mainly buoyed by the appreciation in Rupee against US Dollar, weak dollar index and firm rates in global markets. The rupee appreciated 8 paise to 81.25 against the US dollar in early trade on Monday supported by a weak dollar in the overseas market.
Silver also extended gains as the metal jumped more than 1 per cent or Rs 900 to trade above Rs 67,000 per kg.
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On the international market, Gold quoted $1,809.50 per ounce while Silver quoted 0.60 per cent lower at $23.578 per ounce.
IIF Securities
Buy Gold Feb Contract
Price Target: Rs 54,400
Stop Loss: Rs 53,600
Buy Silver March Contract
Price Target: Rs 67,800
Stop Loss: Rs 66,050
The recent correction in the dollar index has supported bullion prices. The dollar index slipped below to six-month low of USD 105 last week after Federal Reserve Chairman Jerome Powell said that that the US central bank could scale back the pace of its interest rate hikes. The Dollar dipped as the US 10-year yield tested the psychologically crucial level of 3.50 per cent.
The international oil benchmark Brent crude futures was up by 1.14 per cent to USD 86.48 per barrel.
Gold Price City-wise In India as of Dec 5, 2022, for 22k
Chennai - Rs 50,160
Mumbai - Rs 49,450
Delhi - Rs 49,600
Kolkata - Rs 49,450
Bangalore - Rs 49,500
Hyderabad - Rs 49,450
Kerala - Rs 49,450
Pune - Rs 49,450
Vadodara - Rs 49,500
Ahmedabad - Rs 49,500
Jaipur - Rs 49,600
Lucknow - Rs 49,600
Coimbatore - Rs 50,160
Madurai - Rs 50,160
Vijayawada - Rs 49,450
Patna - Rs 49,480
Nagpur - Rs 49,450
Chandigarh - Rs 49,600
Surat - Rs 49,500
Bhubaneswar - Rs 49,450
Mangalore - Rs 49,500
Visakhapatnam - Rs 49,450
Nashik - Rs 49,480
Mysore - Rs 49,500
Gurgaon - Rs 49,600
Ghaziabad - Rs 49,600
Amaravati - Rs 49,450
Rajkot - Rs 49,500
Aurangabad - Rs 49,450
Solapur - Rs 49,450
Kolhapur - Rs 49,450
Latur - Rs 49,480
Tirupur - Rs 50,160
Tirunelveli - Rs 50,160
Trichy - Rs 50,160
Amravati - Rs 49,450
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before investing/purchasing.)
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