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Gold Rate Today: Gold prices in India open in red. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities

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Gold traded in the red in the early trade on Monday as the dollar index (DXY) strengthened ahead of the July inflation numbers which are due this week.

The DXY was trading with a positive bias at 102.29, up 0.24%.

The October gold futures were trading with declines at Rs 59,405 per 10 grams on the MCX in the opening trade, down Rs 15 or 0.03%. Meanwhile, September Silver futures were trading at Rs 71,230, down Rs 38 or 0.05%. MCX gold ended down 0.17%, while silver futures fell 1.69% or Rs 1,228. Click to know more

On the Comex, Gold futures were trading at $1,970.60 per troy ounce, down $5.50 or 0.28% while Silver futures trading at $23.555, up $0.161 or 0.680%.

« Spot gold closed lower Monday as the yields were up on hawkish Fedspeak. Yields on 30-year German bonds rose 9 bps to the highest level since 2014 on a resilient economy. Equivalent US yields were up by 7 bps. Spot gold closed Monday with a loss of 0.39% at $1,936.29. Two-year treasury yielded 1 bps than Friday’s closing, while ten-year yields were up by 5 bps, » Praveen Singh – Associate Vice President, Fundamental Currencies and Commodities at Sharekhan said.

«Bullion‘s daily charts are trading at the demand zone which shows that an upside movement is possible in the near future. The momentum indicator RSI also indicates the same so traders are advised to make fresh buy positions in Gold and Silver near the given support level with a stop loss at the support. Profit booking is advised near the resistance levels, » Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking said

He sees support in October Gold futures at Rs 59,300-59,000 while resistance at Rs 59,700-59,900. As for September Silver futures, support is seen at Rs 71,000-70,400 and resistance at Rs 72,000-72,500.Click to know more

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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