Gold price retraces from record high on US Fed's rate hike buzz. Buy or wait?
Gold rate today has immediate support placed at ₹59,500 on MCX whereas in international market it has immediate support at around $1,975 mark
Gold rate today: On account of US Fed's rate hike buzz, gold price retraced more than ₹1,400 from its life-time high of ₹61,371 per 10 gm on Multi Commodity Exchange (MCX). Gold future contract for June 2023 on MCX finished at ₹59,945 levels on Friday. In international market, the precious yellow metal ended at $1,989 per ounce levels after flirting with psychological $2,000 level ahead of the weekend sessions. However, the stupendous rally in precious metal continued for the second consecutive month where prices gained around 0.50 per cent.
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