Kopar Khairane
Buisness

Current rate of gold and silver as of February 27, 2024: Yellow metal is traded in excess of Rs 62,200, while white metal is traded over Rs 69,450 in precious metals

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<p>On this current date, the 27th of February in the year 2024, the domestic futures market for precious metals exhibited a positive trend. Traders eagerly anticipated a plethora of economic data from the United States and insights from policymakers, foreseeing potential impacts on the trajectory of interest rates.</p>
<p><img decoding=”async” class=”alignnone wp-image-450208″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e-750×563.jpg” alt=”theindiaprint.com current rate of gold and silver as of february 27 2024 yellow metal is traded in e” width=”991″ height=”744″ title=”Current rate of gold and silver as of February 27, 2024: Yellow metal is traded in excess of Rs 62,200, while white metal is traded over Rs 69,450 in precious metals 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e-750×563.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e-1024×768.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e-768×576.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e-150×113.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-current-rate-of-gold-and-silver-as-of-february-27-2024-yellow-metal-is-traded-in-e.jpg 1200w” sizes=”(max-width: 991px) 100vw, 991px” /></p>
<p>At the latest observation, MCX gold futures for April 5 showed an increase of Rs 85, marking a gain of 0.14 percent, reaching Rs 62,234 per 10 grams. This occurred after fluctuating between Rs 62,200 and Rs 62,292 earlier in the day. Meanwhile, MCX Silver futures for March 5 maintained a stable yet optimistic stance, quoting at Rs 69,480 per kg.</p>
<p>Neha Qureshi, a Senior Technical & Derivative Research Analyst at Anand Rathi Commodities & Currencies, suggested acquiring gold April futures during declines at Rs 62,100, with a stop loss at Rs 61,800 and a target price of Rs 62,500. For silver March futures, she recommended purchasing during dips at Rs 69,400, setting a stop loss at Rs 68,400, and targeting Rs 71,400.</p>
<p>Internationally, COMEX gold exhibited a 0.14 percent increase, reaching $2041.7.</p>
<p>“In the coming week filled with data, the markets are expected to maintain volatility. A key data point investors should monitor is the Federal Reserve’s preferred inflation gauge scheduled for Thursday,” stated Anand Rathi Commodities & Currencies’ Qureshi.</p>
<p>She further elaborated that the core personal consumption expenditures price index is anticipated to demonstrate the most significant advancement in a year, underscoring the challenges the central bank encounters in achieving its 2 percent target. Additionally, the US GDP, coupled with speeches from Fed officials, is poised to contribute to increased market volatility.</p>
<p>“Gold’s trading pattern may remain range-bound in anticipation of crucial US data such as GDP growth rate, ISM manufacturing, and PCE deflator inflation data, although the prevailing bias remains bearish,” commented Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.</p>
<p>Singh identified support levels for spot gold at $2025/$2003 and resistance at $2032/$2050/$2065.</p>
<p><strong>Presented below is an indicative listing of spot gold prices in major Indian cities as of February 27, 2024:</strong></p>
<table>
<thead>
<tr>
<th>Cities</th>
<th>Gold Prices for 24k (10 grams)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mumbai</td>
<td>Rs 64,060</td>
</tr>
<tr>
<td>Delhi</td>
<td>Rs 64,035</td>
</tr>
<tr>
<td>Chennai</td>
<td>Rs 64,170</td>
</tr>
<tr>
<td>Kolkata</td>
<td>Rs 64,180</td>
</tr>
<tr>
<td>Bengaluru</td>
<td>Rs 64,205</td>
</tr>
<tr>
<td>Hyderabad</td>
<td>Rs 64,185</td>
</tr>
<tr>
<td>Ahmedabad</td>
<td>Rs 64,185</td>
</tr>
<tr>
<td>Bhopal</td>
<td>Rs 64,160</td>
</tr>
<tr>
<td>Visakhapatnam</td>
<td>Rs 64,180</td>
</tr>
<tr>
<td>Jaipur</td>
<td>Rs 64,055</td>
</tr>
<tr>
<td>Lucknow</td>
<td>Rs 64,190</td>
</tr>
<tr>
<td>Coimbatore</td>
<td>Rs 64,250</td>
</tr>
<tr>
<td>Madurai</td>
<td>Rs 64,280</td>
</tr>
</tbody>
</table>
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