Gold rate today, April 13, 2023: Yellow metal trades in green after the US CPI data release

Gold rate today:  Precious metals in the domestic market on Thursday (April 13) inched higher supported by a softer dollar as cooler-than-expected U.S. inflation data suggested that the US Fed might pause raising rates after a possible hike in May.

On MCX, gold futures (June 5) was up by Rs 141 or 0.23 per cent to Rs 60,769 per 10 grams. Meanwhile, Silver futures (May 5) were up by Rs 286 or 0.38 per cent at Rs 76,199.

“The COMEX gold is trading higher in Asian hour, helped by a softer dollar as cooler-than-expected U.S. inflation data suggested that the Federal Reserve might pause raising rates after a possible hike in May. The dollar index is trading near the 101 level supported for bullion. The COMEX gold is having support near $2,020 and resistance at $2,040,” said NS Ramaswamy, Head of Commodities, Ventura Securities.

In the international market, COMEX gold traded in the green, up by 0.33 per cent to $2,031.60 per ounce. 

Spot gold traded 0.09 per cent marginally higher in the international market and stood at $2016.6.

What analyst suggests?

Neha Qureshi, Senior Technical and Derivative Research Analyst, Anand Rathi Commodities and Currencies recommend buying gold June futures on dips at Rs 60,700 by keeping a stop loss at Rs 60,500 and a target of Rs 61,100.

For silver May futures she recommends buying on dips at Rs 76,000, keeping a stop loss at Rs 75,000 and a target of Rs 78,000.

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

City-wise gold price (22k) in India (April 13, 2023) 

(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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