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Gold Prices Today: Upward move likely amid volatility, resistance around Rs 57,500

Manoj Kumar Jain, Prithvi Finmart Commodity Research suggests buying gold on dips around Rs 56800 with a stop loss of Rs 56650 for target of Rs 57100.

January 25, 2023 / 09:51 AM IST
Gold, gold prices

Gold, gold prices

Gold prices traded in a tight range on Wednesday in the international markets as investors stayed away from taking big bets ahead of the US economic growth data this week, while expectations of slower interest rate hikes from the Federal Reserve kept bullion's outlook bright.

At 9:43am, gold was trading 0.09 percent lower on the Multi Commodity Exchange (MCX) at Rs 56,917 for 10 grams, while silver shed 0.27 percent to Rs 68,360 a kilogram.

Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. US gold futures were up 0.2 percent at $1,940.

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