Gold rate today: Yellow metal trades flat near Rs 45,400 per 10 grams; buy on dips, suggest analysts

Updated : April 05, 2021 12:20 PM IST

Gold futures were flat at $1,761.20 per ounce.

Gold prices in India traded flat with a negative bias on the Multi Commodity Exchange (MCX) Monday tracking weakness in international spot prices amid a steady dollar and rise in US Treasury yields, analysts said.

At 12:10 pm, gold futures for June delivery eased 0.06 percent to Rs 45,393 per 10 grams as against the previous close of Rs 45,418 and opening price of Rs 45,349 on the MCX. Silver futures traded 0.43 percent lower at Rs 64,806 per kg. The prices opened at Rs 64,800 as compared to the previous close of Rs 65,089 per kg.

“The gold prices remained weak on rising US Treasury yields. However, rising COVID-19 cases may lift safe-haven appeal for the yellow metal and weakness in the rupee may support at lower levels. Hence, buying gold on dips is advised,” said Ajay Kedia, Director, Kedia Advisory.

International gold prices eased on Monday as US Treasury yields rose and global stocks gained after better-than-expected jobs data in the United States fuelled optimism over a swift economic recovery, a Reuters report said.

Spot gold was down 0.3 percent at $1,723.16 per ounce. Gold futures were flat at $1,761.20 per ounce.

The US economy created the most jobs in seven months in March as more Americans got vaccinated and the government doled out additional pandemic relief money. Nonfarm payrolls surged by 916,000 jobs last month, the Labor Department said on Friday.

The dollar, however, was steady against its rivals ahead of US services sector data.

“On MCX, gold may find support at Rs 45,000 and resistance at Rs 45,740 level. Support for silver is seen at Rs 63,600 and resistance at Rs 65,800,” Kedia said.

Here are gold rates across major cities:

Here are silver rates across major cities:

(Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.)

Published : April 05, 2021 12:20 PM IST

Gold rate today: Yellow metal trades flat near Rs 45,400 per 10 grams; buy on dips, suggest analysts

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