Gold rate today (April 20, 2023): Precious metals under pressure, gold trades near Rs 60,000 level, silver above Rs 75,000

Gold rate today (April 20, 2023): On MCX, gold futures (June 5) was down by Rs 66 or 0.11 per cent to Rs 60,222 per 10 grams. Here's what analyst suggests

Gold rate today (April 20, 2023): Check out city-wise prices, Pic- PTI

Gold rate today (April 20, 2023): Precious metals– Gold and Silver in the domestic market on Thursday traded lower.

On MCX, gold futures (June 5) was down by Rs 66 or 0.11 per cent to Rs 60,222 per 10 grams. Meanwhile, Silver futures (May 5) was down by Rs 223 or 0.3 per cent at Rs 75,249.

“The COMEX gold is trading near the $2,000 mark in Asian hour after a rising expectation that major central banks across the globe will keep raising interest rates in the near-term. The dollar index is trading above the 101.50 level. The COMEX gold is having support near $1,995 and resistance at $2,013,” said NS Ramaswamy, Head of Commodities, Ventura Securities.

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In the international market, Comex gold was down by 0.15 per cent to $2,004.1 per ounce.

Spot gold traded 0.12 per cent lower in the international market and stood at $1992.8 per ounce.

What analyst suggests?

"Gold prices came under pressure yesterday night as US short-term treasury yields continued to stay elevated, while recent hawkish comments from officials also weighed on prices, said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

She added, however, moving ahead prices are expected to take further cues from Initial jobless claim numbers due today while the possibility of further rate hikes in upcoming Fed meetings may keep prices to trade with limited upside in day trade today.

Qureshi suggests selling gold June futures on rise at 60,400, keeping a stop loss of Rs 60,600 and a target price of Rs 60,000. For the Silver May contract, she suggests selling on rise at Rs 76,000 with a stop loss of Rs 77,000 and a target of Rs 74,000.

Here's an indicative list of spot gold prices in some of the major Indian cities:

City-wise gold price (22k) in India (April 20, 2023)

City	Gold prices for 22k
Chennai	Rs 56,650
Mumbai	Rs 56,060
Delhi	Rs 56,210
Kolkata	Rs 56,060
Bangalore	Rs 56,110
Hyderabad	Rs 56,060
Kerala	Rs 56,060
Pune	Rs 56,060
Vadodara	Rs 56,110
Ahmedabad	Rs 56,110
Jaipur	Rs 56,210
Lucknow	Rs 56,210
Coimbatore	Rs 56,650
Madurai	Rs 56,650
Vijayawada	Rs 56,060
Patna	Rs 56,110
Nagpur	Rs 56,060
Chandigarh	Rs 56,210
Surat	Rs 56,110
Bhubaneswar	Rs 56,060
Mangalore	Rs 56,110
Visakhapatnam	Rs 56,060
Nashik	Rs 56,090

(Disclaimer: These are indicative prices collected from trusted sources. Investors are recommended to check prices with their jeweller before investing/purchasing.)

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