Gold price today (June 9, 2023): Yellow metal trades flat near Rs 60,000 - check out prices in Mumbai. Delhi and other cities

Gold price today (June 9, 2023): Yellow metal on Friday traded flat in the domestic market.

MCX gold futures (Aug 4) traded flat at Rs 59,850 per 10 grams at the last count, having traded between Rs 59,839 and Rs 59,943 earlier in the day. Silver futures (July 5) were flat at Rs 73,611 per kg. 

"It is important to note that last week was shortened due to a holiday, making next week's jobless claims data a more crucial indicator to watch. If this data continues to show an upward trend, coupled with lower Core CPI numbers, it could potentially push gold prices to test the $2,000 level in spot markets. Intraday trading may see price corrections, but lower levels could present buying opportunities for the following week," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

She recommends buying gold Aug futures on dips at 59,800 with a stop loss of Rs 59,600 and a target of Rs 60,100. For Silver July futures she recommends buy on dips at Rs 73,500 keeping a stop loss at Rs 72,500 and a target of Rs 75,000.

In the international market, COMEX gold traded at $1,977.6 per ounce.

Spot gold was flat in the international market and stood at $19632 per ounce.

"Today's US data docket is empty, thus gold bulls may have a field day. Market participants look forward to the US CPI data Monday. Support is at $1950/$1930. Resistance is at $1970/$1990," 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 9, 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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