Gold Rate Today: Gold Inches Over Rs 1.54 Lakh, Silver Surges Rs 5,000; Check 24k, 22k Gold Rates
- Gold futures surged over Rs 1,500, trading above Rs 1.54 lakh.
- Silver prices initially rose Rs 5,000, then erased early gains.
- Fresh position building by participants fueled the precious metal price hike.
Gold prices and silver prices traded significantly higher in the domestic futures market on Tuesday amid firm spot demand. Gold futures rose by over Rs 1,500 to trade at over 1.54 lakh, while Silver futures rose over Rs 5,000 to an early high of Rs 2,41,999 in early trade.
Gold Rate Today
On the Multi Commodity Exchange, the yellow metal contract for October delivery rose by Rs 1,501, or 0.98 per cent, to Rs 1,54,600 per 10 grams, with a business turnover of 1,332 lots.
According to analysts, fresh position building by participants led to the rise in precious metal prices. Globally, gold futures in New York rose 0.35 per cent to US$4,406.15 per ounce.
"MCX Gold opened with a gap-up, extending its upside momentum for a sixth consecutive session to trade near Rs 155,000. Immediate resistance is placed at Rs 155,500–Rs 156,000 near previous highs, and a decisive move above could push toward Rs 157,000–Rs 158,000. Immediate support is seen at Rs 154,500–Rs 154,000, followed by stronger support at Rs 153,000," said Ponmudi R, CEO of Enrich Money.
