Here is an extensive daily list to give you the most recent information on silver prices in India's key cities.
Click to view the details of the gold rate on 24th June
The gold COMEX rate is currently at 2,336.60, reflecting a decrease of 7.80 points or 0.33%. The highest price reached was 2,347.10, while the lowest was 2,334.80. The opening price for the session was 2,346.80. This indicates a slight decline in the gold market for the day, with the price fluctuating within a narrow range. Investors are closely monitoring these rates for potential market movements and investment decisions.
"Gold prices rose on Monday, buoyed by a weaker dollar, as investors anticipated key U.S. inflation data later this week. The U.S. Personal Consumption Expenditures (PCE) data, the Federal Reserve's preferred inflation measure, due Friday, is the main focus. Additionally, speeches by several Fed officials, including San Francisco Fed President Mary Daly and Fed Governors Lisa Cook and Michelle Bowman, are on the radar. Traders, using the CME FedWatch Tool, are currently pricing in a 66% chance of a Fed rate cut in September", says Mr. Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies, Angel One Ltd.
The trading week began with Nifty opening below last week's lows, hinting at a possible decline. However, bulls took control, erasing initial losses and ending the day near the high with a marginal gain of 0.16%, just below 23550. Despite range-bound prices and lack of follow-up traction, traders are advised to buy on dips and book profits at higher levels. Key support is at 23350 and 23300, while resistance is at 23650-23700. Individual stocks show strong performance, suggesting opportunities for outperformance amid global developments support is observed around 23,400, with crucial support at 23,200-23,100 (20 DEMA), ensuring stability, says Sameet Chavan, Head Research, Technical and Derivative - Angel One
These data points provide valuable insights into market trends and the factors influencing price movements, aiding investors in navigating the gold market effectively. However, investors are encouraged to conduct their own due diligence before making any investment decisions.
Throughout the day, investors should remain vigilant and closely monitor gold rates for emerging trends or market developments. Staying informed about daily price fluctuations can help identify potential trading opportunities and support well-informed investment decisions.
For daily updates and in-depth analysis of gold rates, continue to follow our coverage on Business Insider India.
Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.