Gold Price Today: Gold and silver futures open mixed on MCX ahead of US data. MCX Gold shows potential downside with support at Rs 71,700. Neha Qureshi recommends selling MCX gold at Rs 72,200 and silver at Rs 94,000.
Gold and silver prices at MCX showed high volatility ahead of U.S. GDP data. U.S. Fed member Kashkari s hawkish statements led to a surge in the dollar index and U.S. bond yields.
Gold steadied on MCX with June futures opening at Rs 72,203 per 10 grams, while silver rose to Rs 95,670/kg. Commodities stabilize amidst geopolitical tensions and US PCE deflator data anticipation.
The stability of the U.S. dollar contributed to making bullion less accessible for international buyers. Meanwhile, investors remained on the lookout for additional indications regarding the timing of the U.S. Federal Reserve s inaugural interest rate adjustment.
Gold price today: Gold prices hit a record high in the previous session in international markets, supported by ongoing geopolitical tensions and renewed concerns over inflation.