Gold Rate Today in India, Feb 20: Buyers Get Relief as 24K, 22K Prices Fall; Silver Rates Steady
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After a big jump seen yesterday, the gold rate in India today fell slightly, providing temporary relief to buyers. After six straight sessions of gains, gold rates finally fell today, offering some relief to buyers. This week, gold has declined nearly 1% due to back-to-back drops earlier.
Meanwhile, spot gold prices held firm at the $5,000 per ounce mark, trading cautiously as the US dollar index is at monthly highs. The market is now looking forward to the U.S. Federal Reserve’s stance on the rate cut in the upcoming policy meeting.
Gold Rate in India Today
As of February 20th, Friday, 24-carat gold rates in India fell by Rs. 320 per 10 grams to cost Rs. 1,56,170. While the 22-carat gold price in India slipped sharply by Rs. 300 per 10 grams, it costs Rs. 1,43,150. Similarly, the smaller 18-carat gold rates declined by Rs. 240, retailing at Rs. 1,17,130 per 10 grams.
And just like that, 100 grams of 24-carat gold now retails at Rs. 15,61,700, and 22-carat gold per 100 grams now costs Rs. 14,31,150.
Silver prices in India today
Silver rates in India today steadied at yesterday’s rate. On the 20th of February, 1 kg of silver in India cost Rs. 2,70,000. While 100 g of silver rates in India retail at Rs 27,700.
Spot Gold Price and Spot Silver Rate
“Gold edged up toward $5,020/oz as a cautious Federal Reserve outlook, resilient US economic data, and rising US-Iran geopolitical tensions boosted its appeal as an inflation hedge, despite seasonally weak Asian demand. On the technical front, MCX Gold continues to trade in a range-bound fashion. The 160750 level remains the immediate resistance on the upside, while immediate support is placed at 153170 and major support lies at 146400. We expect range-bound trading to continue unless a decisive breakout or breakdown occurs. Traders can buy MCX Gold near 153300 for a target of 156325, with a stop-loss at 152500. The immediate-term outlook remains neutral.” according to Way to Wealth Commodity Outlook
City-Wise Gold Rates: Latest 22-Carat & 24-Carat Prices Across India
The latest gold prices for 22-carat and 24-carat gold in major Indian cities are similar to national gold prices today.
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