Gold and silver price today (June 14, 2023): Precious metals trade in green - check out city wise prices in Mumbai, Delhi and other cities

Gold price today (June 14, 2023): Precious metals in the domestic market on Wednesday traded higher.

MCX gold futures (Aug 4) traded at Rs 59,328 per 10 grams, up 0.19 per cent or Rs 110 at the last count, having traded between Rs 59,301 and Rs 59,339 earlier in the day. Silver futures (July 5) were up 0.42 per cent or Rs 305 at Rs 73,399 per kg. 

"Gold has been trading within a tight range over the past 2-3 sessions, with investors closely observing the upcoming US Federal Open Market Committee (FOMC) meeting today. The revised interest rate projections from the US Fed will be closely scrutinized, as any indications of diminishing expectations for rate cuts in 2023 could potentially result in short-term volatility in gold prices," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

She recommends selling gold Aug futures on rise at 59,400 with a stop loss of Rs 59,600 and a target of Rs 59,000. For Silver July futures she recommends sell on rise at Rs 72,500 keeping a stop loss at Rs 73,500 and a target of Rs 70,000.

In the international market, COMEX gold traded at $1,961 per ounce.

Spot gold was down 0.24 per cent in the international market and stood at $1947.9 per ounce.

"The US Federal Reserve is expected to keep the rates unchanged in its monetary policy decision, though markets widely expect the rates to rise in July. The Federal Reserve is likely to make it a hawkish pause, which may limit gold recovery, though huge volatility in gold prices in the wake of the rate decision isn't ruled out. Support is seen in the $1920-$1930 zone, while resistance is at $1950 followed by $1975. The yellow metal has failed thrice in its attempt to take out the $1975 level. Presently, the metal is up nearly 0.20% at $1948 as the US yields take a breather," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

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

City-wise gold price (24k) in India (June 14, 2023) 

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

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