Gold and Silver rate today (May 14, 2024): Domestic precious metal futures on Tuesday edged higher. The yellow metal futures were above Rs 72,000, while white metal was above Rs 85,300.
MCX gold futures (Jun 5) rose 0.25 per cent or Rs 179 at Rs 72,034 per 10 grams at the last count. Meanwhile, MCX Silver futures (Jul 5) was up 0.53 per cent or Rs 454 at Rs 85,340 per kg.
Meanwhile, COMEX gold in the international market was up 0.31 per cent at $2,350.3.
“The yellow metal is expected to trade between $2320 and $2360 with a downward bias,” said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.
Singh sees support at $2334/$2320/$2300. Resistance is at $2350/$2380.
Should you invest in gold now?
Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended buying gold June futures on dips at 72,000, keeping the stop loss at Rs 71,600 and a target price of Rs 72,500. For silver July futures, she recommended buying on the dips at Rs 85,200, with a stop loss of Rs 84,200 and a target of Rs 87,200.
Here’s a list of indicative spot gold prices in some of the major cities in the country:
City-wise gold rate (24k) in India (May 14, 2024)
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