Gold rates today trade flat despite dip in dollar index. Buy, sell or wait?2 min read . Updated: 08 Feb 2023, 11:36 AM IST
- Gold price today has immediate support placed at ₹56,800 and ₹56,400 levels, say experts
Gold rates today: Despite dip in US dollar rates and dollar index post-US Fed chief Jerome Powell signaling less hawkish stance on interest rate hike, gold prices trade flat in early morning deals on Wednesday. The yellow metal future contract on MCX for April 2023 witness profit booking after hitting intraday high of ₹57,259 per 10 gm in intraday trade. Yesterday dollar index witnessed profit-booking post-US Fed chief Jerome Powell dropped signals about less hawkish stance on interest rate hike. After the Jerome Powell's speech, US dollar erased its early gains in late Tuesday session. In fact, the dollar index has opened today in red zone by losing around 0.09 per cent on Wednesday.
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