Gold Price In India On Valentine’s Day: 24K/100 Grams of Gold Rate Rally Rs 1,100; 1 Kg Silver Jumps Rs 1,000

On Friday, February 14, the day of Valentine's Day, gold prices are trading higher in the domestic market as traders await further hints on the interest rate outlook from Federal Reserve Chair Jerome Powell's speech and Wednesday's U.S. inflation statistics. Due to safe-haven demand and a fall in the US dollar and treasury yields, gold prices are anticipated to rise as markets carefully monitor developments in U.S. President Donald Trump's tariff proposals.

Gold Price In India Today

In India, the current price of gold is Rs 8,716 per gramme and Rs 7,990 per gramme for 22 carat gold. While 22k of 100 grammes of gold will cost Rs 7,99,000 in India today compared to Rs 7,98,000 yesterday, marking a price spike of Rs 1,000, the price of 22k of 10 grammes of gold in India reached Rs 79,900 on Friday compared to Rs 79,800 on Thursday, showing a price surge of Rs 100.

In India, the price of 24k of 10 grams of gold climbed by Rs 110 to Rs 87,160 on Friday from Rs 87,050 on Thursday. Meanwhile, the price of 24k of 100 grams of gold jumped by Rs 1,100 to Rs 8,71,600 today from Rs 8,70,500 yesterday.

The price of 18k of 10 grams of gold in India jumped by Rs 90 to Rs 65,380 on Friday from Rs 65,290 on Thursday. Meanwhile, the price of 18k of 100 grams of gold would cost more than Rs 900 to Rs 6,53,800 today from Rs 6,52,900 yesterday.

Spot Gold Today

Gold prices remained stable on Friday, with U.S. gold futures up 0.4% to $2,957.40, according to Reuters, while spot gold held firm at $2,929.05 per ounce as of 0303 GMT after bullion reached a new high of $2,942.70 on Tuesday. The price of spot silver climbed 0.4% to $32.50 an ounce. Palladium jumped 0.6% to $999.77 and platinum grew 0.3% to $997.65.

Silver Price In India Today

In India, silver now costs Rs 1,00,500 per kilogramme and Rs 100.50 per gramme. Considering the weakness of the dollar and US Treasury yields, the price of 10 grammes of silver in India on Friday increased to Rs 1,005 from Rs 995 on Thursday, 100 grammes of silver will cost Rs 10,050 today from Rs 9,950 yesterday, and the price of 1 kg of silver on Friday heightened to Rs 1,00,500 from Rs 99,500 on Thursday, marking a 1000 rupee price growth.

Spot Gold Outlook Today

"Gold is expected to hold above $2900 and trade with positive bias amid safe haven buying. Looming threat of tariffs would strengthen investment demand and increase inflows. Further, strong physical demand in US and UK amid the tariff threats would support the bullions to trade higher. Moreover, expectation of weak retail sales numbers would again weigh on the dollar and support the bullions to trade higher. On the data from, unwinding of OI in ATM and OTM call strike indicates prices to move higher. The call base is sifting higher from $2950 to $3000 in COMEX Gold future. MCX Gold April is expected to hold its gains above ₹85,200 and move higher towards ₹86,500 level," said the technical research analysts of ICICI Direct Research.

MCX Gold Outlook Today

"From a technical perspective, MCX traded within a tight range and concluded with the formation of a bullish candle on the daily chart. The price action and pattern clearly depict strong buying interest, with the commodity consistently forming higher highs and higher lows. If MCX Gold breaks above 85800, it could advance towards 86200/86500 levels. Conversely, support is seen at 85500/85250 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," commented Jebaris Nadar - Research Associate at Way2Wealth Brokers Pvt. Ltd.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.