Gold, in dollar terms, lost 0.6 per cent over the past week by ending at $1,977.2 per ounce. Whereas gold futures on the MCX was down by a marginal 0.2 per cent as it closed at ₹59,273 (per kg).

Bullion Cues: Correction likely

According to the MCX data, gold futures rose by 0.82 per cent to Rs 59,238.00 and silver futures also increased by 0.71 per cent to Rs 69,799.00

Gold price today: 10 grams of 24-carat sold at Rs 59,130; silver at Rs 71,600 per kilo

MCX Silver futures surpassed their previous 7-week high of Rs 68,185 and were trading at Rs 69,781 in early trade. They were up by Rs 472 per kg or 0.68%. Meanwhile, the April Gold futures were trading at Rs 59,215, higher by Rs 459 or 0.78% per 10 grams.

Gold Price Today: MCX silver hits 7-week high; yellow metal shines on dovish Fed

According to the MCX data, gold futures decreased 0.07 per cent to Rs 58,540.00 and silver futures increased by 0.26 per cent to Rs 68,571.00

Gold price today: 10 grams of 24-carat sold at Rs 59,130; silver at Rs 72,100 per kilo

MCX April gold futures were trading flat at Rs 58,599 per 10 grams in the early trade though the bias was positive. Meanwhile, May silver futures were up by Rs 230 or 0.34% at Rs 68,624 per kg.

Gold Price Today: Yellow metal slips ahead of Fed outcome; check strategy for intraday trade

As per the MCX data, the gold futures increased by 0.30 per cent to stand at Rs 59,683 and silver futures rose by 0.38 per cent to trade at Rs 69,103

Gold price today: 10 grams of 24-carat drops to Rs 59,780; silver at Rs 72,000 per kilo

The MCX Crude Oil futures seem on course to test the 200-WMA placed at Rs 5,000. However, given the indications from momentum oscillators, the commodity may break the support level.

MCX Crude Oil may break Rs 5,000-mark; Natural Gas remains weak

Gold for April delivery on MCX hit a high of ₹60,455 before cooling off to ₹59,630

Gold prices hit a new high on looming US crisis

Appeal of the yellow metal increases on prediction for less aggressive Federal Reserve rate hikes

Gold prices cross ₹60,000 on MCX on fragile US economy

MCX Gold has given returns of 5.26% on the year-to-date (YTD) basis while returning 3.95% during March, according to Anuj Gupta, Vice President (VP), Commodity and Currency Research at IIFL Securities. Silver futures, on the other hand, are catching up fast, recovering their early losses, though sti…

Gold Price Today: Yellow metal trades above Rs 58,000 mark; where’s it headed next?

Motilal Oswal recommended Neutral rating on MCX with a target price of Rs 1450 in its research report dated March 16, 2023.

Neutral MCX; target of Rs 1450: Motilal Oswal

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Multi Commodity Exchange of India Limited (MCX) operates an electronic commodity futures exchange.