Gold rates today near lowest in a week, down nearly ₹1,000 in 3 days
After rising above ₹55,000 levels last week, gold has seen profit-taking after central banks signalled more rate hikes in 2023
Gold rates in India remained steady today after some correction, mirroring a similar global trend. On MCX, gold futures were near one-week low of ₹54355 while silver edged up 0.23% to ₹67,808 per kg. Last week, gold had jumped above ₹55,000 before seeing some profit-taking after Fed signalled more rate hikes in 2023. In international markets, gold rates were flat near $1,791.56 per ounce while silver lost 0.4% to $23.12. A decline in dollar index supported gold while prospects of further interest rate hikes by the US Federal Reserve next year capped gains.
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