Gold prices today jump nearly ₹650 per 10 gram in a day
A weaker rupee and a sharp rise in global rates pushed domestic gold prices to new highs today. On MCX, April gold futures jumped 1.5% to ₹43,312 per 10 gram. Gold prices had surged about ₹1,800 per 10 gram in the past week. Tracking gold, silver prices also moved higher today. Meanwhile, the rupee fell to 71.89 against the US dollar today, tracking weakness in other Asian currencies.
Gold can move towards ₹43,500 while taking support near ₹42,700 while silver can improve towards ₹49,000 while taking support near ₹48,000, SMC Global said in a note.