Gold rate today (May 15, 2023): Yellow metal futures traded flat close to the Rs 61,000 per 10 grams mark in the domestic market on Monday, May 15 as the US dollar strengthened.
MCX gold futures (June 5) were flat at Rs 60,872 per 10 grams at the last count, having traded between Rs 60,820 and Rs 60,926 earlier in the day. Silver futures (July 5) were at Rs 73,081 per kg.
In the international market, COMEX gold traded at $2,018.3 per ounce.
“The COMEX gold is trading almost flat in Asian trade as rising fears of slowing economic growth and high-interest rates saw safe-haven demand being redirected towards the dollar. The dollar index is trading near the 102.5 level putting pressure on the yellow metal. The COMEX gold has support near $2,008 and resistance at $2,028,” said NS Ramaswamy, Head of Commodities, Ventura Securities.
Spot gold traded flat in the international market and stood at $2,013.9 per ounce.
“Dollar index has seen a revival and closed at one month high at 102.62, gold and silver are trading flat. I would recommend selling on rises,” said Amit Sajeja, Vice President-Currencies and Commodities at Motilal Oswal Financial Services.
Sajeja suggests selling silver futures (July) on rises at Rs 73,500/73,600 with a stop loss at Rs 74,200. He recommends selling gold June futures on rise at Rs 61,050/61,100 with a stop loss of Rs 61,300.
Gold price history
Gold prices have risen about 11 per cent so far in 2023.
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