Gold prices today struggle, down ₹8,500 from record high: Check today rate

New Next: Gold and silver rates edged higher in Indian markets today, tracking positive global cues. On MCX, gold futures were up 0.2% to ₹47,881 per 10 gram while silver rose 0.36% to ₹69625 per kg. In global markets, gold rates were flat today, supported by a weaker US dollar.

Spot gold rose 0.1% to $1,807.22 per ounce after falling to one-week low of $1,790.49 in the previous session. A weaker dollar makes gold less expensive for other currency holders. Among other precious metals, silver rose 0.3% to $26.24 per ounce while platinum eased 0.2% to $1,115.68.

Gold traders will keep a close eye on US consumer price index data and Fed chief Jerome Powell’s appearance before Congress later this week to get cues on policy tightening by the central bank,” he said, adding broader range on COMEX could be between $1786- 1820 and on the domestic front prices could hover in the range of ₹47,550- 48,150.

On silver, domestic brokerage Geojit said, a tight trade inside $26.80-25.40 remain in cards and a break of any of the sides would suggest fresh direction to the commodity for the day. MCX silver has resistance at ₹71400 and support at ₹67,800.