Gold Rate Today: After hitting 1 lakh rupees, gold sees profit booking; Prices dipped Rs 1,900 per 10 grams

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This week, Gold crossed a mark of Rs 1 lakh. (AI image)

Gold Rate Today: Gold June Futures at MCX experienced profit booking on Wednesday after a record high of Rs 99,358 on Wednesday, which was reduced to Rs 1,883 or 1.45% or 1.45% in Rs 95,457/10 grams. The market participants made profits at the height of gold. This week, Gold crossed a mark of Rs 1 lakh.
Futures also declined in silver, which decreased by Rs 95,478/kg, 0.42% or Rs 400.
On Tuesday, domestic valuable metals closed positively, while international markets showed mixed results. Gold June Futures settled at Rs 97,340 per 10 grams, 0.04%and wires in silver by Rs 95,879 per kg, 0.66%.
Precious metals demonstrated significant instability, with gold with more than $ 3,500 per troy ounce. However, the US President’s statements about China and Fed Chairman inspired to sell at an extreme level.
Gold prices declined by $ 100 per troy ounces due to the assurance of the US President and the retention of Fed Chairman Powell about stable relations with China, while the US equity markets were recovered.
Recovery of 3 years of climb strengthened the dollar index, contributing to the fall of gold. The US dollar index (DXY) was trading around 99.31, which was 0.40 or 0.40%.
According to the ET report, “can be less than $ 3,330–3,260, if it can be less than $ 3,400 per troy ounces, gold may be weaker towards $ 3,330–3,260.”
He said, “We estimate volatility in gold and silver prices this week, affected by dollar index fluctuations and US-China business stress. Gold should maintain support at $ 3,200, while silver probability is above $ 29.88 per troy ounces,” he said.

Physical Market Gold Rates:

Delhi Bazaar:
Standard Gold (22 carat) is priced at Rs 57,176/8 grams, while pure gold (24 carat) costs 60,920/8 grams.
Mumbai Bazaar:
Standard Gold (22 carat) is priced at 57,952/8 grams, while pure gold (24 carat) is priced at Rs 61,784/8 grams.
Chennai Bazaar:
Standard Gold (22 carat) is available 56,600/8 grams, while pure gold (24 carat) costs 60,376/8 grams.
Hyderabad Market:
Standard Gold (22 carats) is trading 57,120/8 grams, while pure gold (24 carat) is priced at 60,952/8 grams.