Gold price dips ₹2,300 from life-time high. Right time to buy?3 min read . Updated: 04 Feb 2023, 09:05 AM IST
- Gold rates today have strong support placed at ₹56,500 on MCX, believe experts
Gold rate today: On account of US Fed and most of the European central banks adopting slightly 'dovish' stance on interest rate hike and US dollar rates bouncing back from 10-month lows, gold prices pulled back sharply after zooming to life-time high of ₹58,847 per 10 gm levels in domestic markets. Gold future contract for April 2023 ended at ₹56,560 per 10 gm on Multi Commodity Exchange (MCX), around ₹2,300 lower from its new highs. However, the sharp pull back in gold prices was witnessed in international market as well. Spot gold price finished at 1,864 per ounce on Friday, logging weekly loss of near 3.23 per cent.
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