Gold Price Today: Yellow metal trades flat, experts say use dips to buy for target of Rs 47,100

Gold prices traded higher with spot gold prices at global markets rose by nearly 1% and at MCX ended up by 0.42%

Indian Gold at Multi Commodity Exchange(MCX) August futures trade flat to higher on Monday tracking positive trend seen in the international spot gold prices which inched up on weak US dollar.

Gold rates in India continued to remain below Rs 47,000-mark on Monday. The MCX gold futures rose by nearly 0.11% to Rs 46,976 for 10 grams on June 28. MCX July silver futures were up by 0.30 per cent at Rs 68,079 a kilogram.

In global markets, gold rates slipped to one week low amid a stronger US dollar. Spot gold was down 0.2% to USD 1,777 per ounce after hitting one week low of USD 1,770 earlier in the session.

The precious metal came under pressure today as dollar index recovered from Friday's lows. The dollar index was stable at 91.847, making gold costlier for holders of other currencies.

In Delhi, the price of 22-carat gold stood at rupees 46,260 per 10 gm. While in Chennai and Mumbai the price of gold is rupees 44,460 and rupees 46,160 respectively.

India Scanner News Network

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