Gold, Silver prices today, March 16: Precious metals dip on MCX - Check rates in Delhi, Mumbai and other cities

Gold, Silver Prices Today: Gold and Silver prices on Thursday traded lower on the Multi Commodity Exchange (MCX) as the US dollar index, which measures the US currency against six rivals, strengthened. Gold Futures contract for April quoted at Rs 57,933 per 10 gm, down by 0.57 per cent. Likewise, Silver contract for May quoted at Rs 66,735 per kg, down by 0.84 per cent.

Amit Khare, AVP- Research Commodities, Ganganagar Commodity, said that bullion charts are now trading at the overbought zone. "Good profit booking is expected soon. Momentum Indicator RSI is also indicating the same,” he said.

In the international market, Gold quoted a $1,916.70 per ounce while Silver at $21.82 per ounce. 

Trade call by IIFL Securities

Gold April Contract

Buy- Rs 57,800 

Stop Loss- Rs 57,450 

Target- Rs 58,300

Silver May Contract

Buy- Rs 66,500 

Stop Loss- Rs 66,750 

Target- Rs 67,500

Meanwhile, the rupee was trading at 82.685 against the US dollar. The international oil benchmark Brent crude futures stood at $74.21 per barrel up by 0.71 per cent.

Also Read: Explained: What is insurance underwriting and how it works?

Gold Price City-wise In India as of March 16, 2023, for 22k

Chennai - Rs 54,250 

Mumbai - Rs 53,550

Delhi - Rs 53,700 

Kolkata - Rs 53,550 

Bangalore - Rs 53,600 

Hyderabad - Rs 53,550

Kerala - Rs 53,550 

Pune - Rs 53,550 

Vadodara - Rs 53,600 

Ahmedabad - Rs 53,600 

Jaipur - Rs 53,700 

Lucknow - Rs 53,700 

Coimbatore - Rs 54,250 

Madurai - Rs 54,250

Vijayawada - Rs 53,550

Patna - Rs 53,600 

Nagpur - Rs 53,550 

Chandigarh - Rs 53,700 

Surat - Rs 53,600 

Bhubaneswar - Rs 53,550 

Mangalore - Rs 53,600 

Visakhapatnam - Rs 53,550 

Nashik - Rs 53,580

(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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