.png){kind=logo}
Gold price on MCX declined amid a rise in the US dollar and profit-taking from investors. Gold’s June futures fell 0.5% to Rs. 1,58,281 per 10 grams. Silver July futures fell 1.06% to Rs. 2,67,258 per kg.
Meanwhile, Brent crude futures fell 0.75% to $110.5 a barrel. US West Texas Intermediate (WTI) fell 0.59% to $103.5 a barrel.
24K gold rose by Rs. 131 to Rs. 1,58,350 per 10 grams. 22K gold advanced by Rs. 120 to Rs. 1,45,150. City-wise, Mumbai and Kolkata mirrored prices at Rs. 1,58,350, while Delhi was at Rs. 1,58,500, and Chennai at Rs. 1,62,230.
US gold prices fell on Wednesday, as rising Treasury yields and a firm dollar outweighed optimism over a potential US-Iran peace agreement.
Spot gold was down 0.3% at $4,467.59 per ounce. US gold futures for June delivery lost 0.9% to $4,471.10.
Spot silver fell 0.8% to $73.22 per ounce, platinum slid 0.5% to $1,912.67, while palladium rose 0.2% to $1,356.32.
Also Read: India Hikes Gold, Silver Import Duties Amid Rising Economic Pressure
"Gold is running out of puff somewhat against this backdrop of rising yields, and a dollar which has a spring in its step courtesy of the hawkish shift in the rates outlook," said Tim Waterer, chief market analyst at KCM Trade.
Internationally, gold has support at $4,454 and $4,420, while resistance is at $4,522 and $4,570 per troy ounce, and silver has support at $72 and $69.10, while resistance is at $76.60 and $78.80 per troy ounce.
MCX gold has support at Rs. 1,57,700 and Rs. 1,56,650, and resistance is at Rs. 1,60,350 and Rs. 1,61,100, while silver has support at Rs. 2,66,600 and Rs. 2,63,000 and resistance at Rs. 2,74,400 and Rs. 2,80,000.
