Gold Price Today: Yellow metal trades higher, may face resistance at Rs 47,300

Gold Price Today: Yellow metal trades higher, may face resistance at Rs 47,300

Gold was trading higher in the Indian market on May 5 amid mixed economic data and contrasting comments from Fed officials and US treasury secretary. Silver, however, was trading higher by Rs 235 a kg. On the Multi-Commodity Exchange (MCX), June gold futures rose 0.16 percent, or Rs 74, to trade at Rs 46,945 per 10 grams at 1029 hours. The yellow metal touched an intraday high of Rs 47,046 and low of Rs 46,920 after opening higher at Rs 46,979. Silver July futures were trading at Rs 69,884 a kg, rising Rs 235 or 0.34 percent, while in the international market, the precious metal rose 0.21 percent to $26.61 per troy ounce. The rise in gold prices in the international markets also supported yellow metal in the domestic market. It traded at $1780.8 per troy ounce, up 0.27 percent. The dollar index, which measures the value of the greenback against the basket of six world's major currencies, rose 0.34 percent to 91.23. Gold and silver saw volatility on May 4. Both metals gained early in the session but slipped …
More on: www.moneycontrol.com