Gold Price In India Today, 10th Feb: 24K/100 Grams of Gold Rate Jumps Rs 3,900; Silver Holds The Flat Trend

Gold prices on the domestic market climbed on Monday, February 10th, amid growing trade concerns between the United States and China. This was due to the demand for safe-haven assets, which has caused gold prices to rise over the previous five sessions. Gold rates will probably fluctuate this week due to the focus on US retail sales, IIP, GDP, and inflation statistics. Key domestic and global economic data as well as inflation numbers will additionally serve to shape the bullion market's perspective.

Gold Rates In India Today

Today's gold prices in India are Rs 8,706 per gramme for 24 carat gold and Rs 7,980 per gramme for 22 carat gold. While 22k of 100 grammes of gold would cost Rs 7,98,000 in India today compared to Rs 7,94,500 previously, reflecting a rise in the price of Rs 3,500, the price of 22k of 10 grammes of gold on Monday reached Rs 79,800 compared to Rs 79,450 earlier, marking a price leap of Rs 350.

While 24k of 100 grammes of gold will cost Rs 8,70,600 in India today compared to Rs 8,66,700 on Saturday, indicating a price spike of Rs 3,900, 24k of 10 grammes of gold prices in India hit Rs 87,060 on Monday compared to Rs 86,670 on Saturday, marking a price jump of Rs 390.

In India, 18k of 10 grams of gold would cost Rs 65,290 today, up Rs 280 from Rs 65,010 earlier. Meanwhile, the price of 18k of 100 grams of gold climbed by Rs 2,800 on Monday, reaching Rs 6,52,900 from Rs 6,50,100 on Saturday.

Spot Gold Today

After reaching a new high of $2,886.62 on Friday, spot gold was up 0.5% at $2,875.79 an ounce as of 0403 GMT on Monday, while U.S. gold futures climbed 0.5% to $2,902.40, according to Reuters. Platinum strengthened 0.1% to $977.60, while spot silver climbed 0.6% to $31.99 per ounce. Palladium rose to $966.10, up 0.1%.

Silver Rates In India Today

Domestic silver rates were stable on Monday after international silver prices reached a three-month high of $32.5 an ounce on Friday. Today, silver costs Rs 99.50 per gramme and Rs 99,500 per kilogramme in India.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold tested key 85000 level during intraday and formed a bullish candle on the daily chart. Recent price action clearly depicts strong buying interest as the commodity is consistently forming higher highs and higher lows on the daily chart. If MCX Gold breaks above 85000, it could advance towards 85500/85800 levels. Conversely, support is seen at 84450/84000 levels and a breakdown below 84000 may trigger profit booking, leading to a decline towards 83800/83500 levels. Traders are advised to maintain tight stop losses, as the index is trading in a critical zone that could witness heightened volatility," commented the technical research team of Way2Wealth Brokers Pvt. Ltd.

MCX Silver Outlook

"On the technical front, MCX Silver maintained its upward momentum for the second consecutive session and formed a bullish candle on the weekly chart. The commodity witnessed a positive breakout from a symmetrical triangle pattern on the daily chart, signaling a potential trend continuation. Momentum indicators MACD and RSI reflect strong bullish strength, with RSI already experiencing a positive crossover, while MACD is bound to cross above the signal line, reinforcing a positive bias. On the upside, resistance is placed at 96600/98000 levels, while support is seen at 93800/92000 levels. Traders are advised to apply 'Buy on Dips' for short term gains," said the technical research analysts of 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.