Gold rate today (April 25, 2023): Yellow metal in the domestic market on Tuesday traded above Rs 60,000 level. 

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On MCX, gold futures (June 5) was up by Rs 87 or 0.14 per cent to Rs 60,088 per 10 grams. Meanwhile, Silver futures (May 5) was down but at Rs 116 or 0.15  per cent at Rs 76,184.

In the international market, COMEX gold traded at $2005 per ounce which was 0.24 per cent on the upside. 

"The COMEX gold prices are trading above the $2,000 mark in Asian hour on the expectation that the Federal Reserve could pause its rate hike cycle by as soon as June. The U.S. dollar index fell to a two-week low near the 101 level, having reversed most of its recent gains amid a resurgence in bets for a Fed pause its rate hike. The COMEX gold is having support near $1,997 and resistance at $2,017," said NS Ramaswamy, Head of Commodities, Ventura Securities.

Spot gold traded flat in the international market and stood at $1,994.8 per ounce.

What analyst suggests?

"Gold prices witnessed range bound trade yesterday although closed in green amid cautious moves ahead of crucial macro cues awaited this week. Overall we could continue to witness consolidation in gold ahead of the US Fed meeting due on May 3, while any sharp rebound in prices is unlikely in the week as further direction depends on US GDP and PCE Index numbers due later in the week," said Neha Qureshi, Senior Technical and Derivative Research Analyst, Anand Rathi Commodities and Currencies.

Qureshi suggests selling gold June futures on rise at 60,200, keeping a stop loss of Rs 60,400 and a target price of Rs 59,800. For the Silver May contract, she suggests selling on rise at Rs 75,500 with a stop loss of Rs 76,500 and a target of Rs 73,500.

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

City-wise gold price (22k) in India (April 25, 2023) 

City Gold prices for 22k
Chennai Rs 56,140
Mumbai Rs 55,640
Delhi Rs 55,840
Kolkata Rs 55,640
Bangalore Rs 55,690
Hyderabad Rs 55,640
Kerala Rs 55,640
Pune Rs 55,640
Vadodara Rs 55,690
Ahmedabad Rs 55,690
Jaipur Rs 55,840
Lucknow Rs 55,840
Coimbatore Rs56,140
Madurai Rs 56,140
Vijayawada Rs 55,640
Patna Rs 55,690
Nagpur Rs 55,640
Chandigarh Rs 55,840
Surat Rs 55,690
Bhubaneswar Rs 55,640
Mangalore Rs 55,690
Visakhapatnam Rs 55,640
Nashik Rs 55,670

(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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