Gold price today: Yellow metal prices rise after falling for 4 days in a row; could retest ₹ 42,000

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Gold price today: Gold prices in Indian markets rose more than 1 per cent on March 2 after seeing a sharp fall in the previous session. On the Multi Commodity Exchange (MCX), April gold contracts were trading higher by Rs 280, or 0.70 per cent, at Rs 41,677 per 10 gram at 09:20 hours.

Spot gold gained 1.2 per cent to $1,602.90 per ounce by 0104 GMT, having slumped more than 4 per cent in intraday trade on Friday.

According to Moneycontrol, Gold is likely to remain volatile as it is prone to profit-taking at higher levels. But, the trend is largely on the upside, and it should retest 42,000 which will act as a resistance.

On MCX, gold futures prices rose today by nearly ₹300 or 0.70% to ₹41,684 per 10 gram. Silver futures rose 1.6% to ₹45,102 per kg on MCX. 

Meanwhile, the Indian government's gold bond scheme opened for subscription today. It will remain open till March 06, 2020. The government is selling gold bonds at ₹4,260 per gram (999 purity). Those applying online and making payment online get a discount of ₹50 per gram.

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