Gold and Silver price today (September 18, 2023): Precious metals trade higher ahead of U.S. Fed's policy meet week; Gold above Rs 59,600

Gold and Silver price today (September 18, 2023): Precious metal futures traded higher on Monday ahead of the U.S. Federal Reserve's policy meeting this week. Gold was above Rs 59,600 and Silver was over Rs 72,300.

Last seen, MCX gold futures (Oct 5) were up 131 or 0.22 per cent at Rs 59,606 per 10 grams at the last count, having traded between Rs 58,606 and Rs 58,630 earlier in the day. Silver futures (Dec 5) were up 0.25 per cent or Rs 181 at Rs 72,335 per kg.

"Bullion's daily charts are looking good and making a bottom, trading near the demand zone. Traders are advised to make fresh buy positions in Gold and Silver near the given support level," said Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for gold October futures at 58800/58600 and resistance at 59100/59200. For Silver December futures he sees support at 71700/71000 and resistance at 72500/73000.

In the international market, COMEX gold was up 0.20 per cent higher at $1,950.1 per ounce.

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

City-wise gold price (24k) in India (September 18, 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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