Gold Prices Today: Yellow metal prices to stay range-bound amid volatility, support around Rs 55,240-54,980.
Prathamesh Mallya of Angel One expects gold to trade lower towards Rs 55,250 levels, a break of which could prompt the price to move lower to Rs 55,080 levels.
Gold prices dipped on Tuesday in the international markets and were poised for a monthly decline of about 6 percent as the prospects of further interest rate hikes from the US Federal Reserve continued to weigh on the zero-yielding asset’s appeal.
Spot gold was down 0.1 percent at $1,816.33 per ounce, as of 00:52 GMT, after hitting a two-month low on Monday. US gold futures were flat at $1,824.70.
At 09:41 am, gold was down 0.17 percent on the Multi Commodity Exchange (MCX) at Rs 55,380 for 10 grams, while silver was trading lower by 0.06 percent at Rs 62,925 per kilogram.
