Gold Rate in India, Silver Jump Post Tariff Ruling; Breakout Possible Amid US-Iran War Buzz? Feb 23-27 Outlook

Gold Rate in India: Gold and silver prices rebounded sharply on Saturday after a US Supreme Court ruling on President Donald Trump's tariff measures rattled global markets and revived safe-haven demand. Rates of 24-karat, 22-karat and 18-karat gold recorded a strong trend reversal, with the yellow metal posting notable gains in the final three trading sessions of the week.

Heading into the week of February 23-27, investors will closely track the direction of gold and silver prices in India amid ongoing developments around Trump-era tariffs and escalating US-Iran tensions. Here's a look at the key triggers and global cues that could influence bullion prices in the days ahead.

Gold Rate In India

The price of 24 karat gold in India jumped nearly Rs 191 per gram to Rs 15,928 per gram, as per Goodreturns data on 5:23 pm on Saturday, February 21. The rate of 22 karat gold in India surged by Rs 175 per gram to Rs 14,600 per gram. The rate of 18 karat gold in India jumped by Rs 143 per gram to Rs 11,946 per gram.

Silver Rate in India

The price of silver in India also saw a sharp rebound on Saturday. Silver rate in India increased to Rs 275 per gram and to Rs 2,75,000 per kilogram on Saturday. Silver showcased a massive volatility in the last two months, with prices surging massively above Rs 4 lakh, only to crash in February.

MCX Gold, Silver Rate

MCX gold rate on Friday for April contracts expiry closed 0.07% higher at Rs 1,56,993 per 10 grams. Whereas, MCX silver rate on Friday for March contracts expiry closed 4.41% higher at Rs 2,52,042 per kilogram. Meanwhile, international gold rate on Friday jumped beyond $5080 per ounce on Friday.

Gold, Silver Price Weekly Outlook | Feb 23-27

Gold and silver prices are likely to remain volatile in the coming days. The US Supreme Court, on Friday, struck down US President Donald Trump's tariffs imposed on more than 100 nations. Slamming the SC ruling on tariffs, Donald Trump announced to impose additional 10% tariffs.

The whirlwind surrounding President Donald Trump's tariff measures fuelled a strong rally in the US stock market on Friday, while Treasury yields also climbed sharply during the session. Further developments on the tariff front in the coming week are likely to influence investor sentiment and could play a key role in shaping gold's near-term trajectory.

Additionally, tensions between Iran and US will also weigh investors sentiment and may fuel gold's safe haven rally. Recently, Donald Trump was presented an option to assassinate Iran's Supreme Leader Ayatollah Ali Khamenei, and his son Mojtaba, American digital news outlet Axios has reported, citing senior US officials and adviser. Goodreturns couldn't independently verify the development.

Gold Price Target

While, these factors may influence's gold and silver price movement in the coming week, experts continue to remain bullish for the precious metals in the long-term. " Gold remains structurally strong amid expectations of global rate cuts, fiscal concerns, and central bank buying. In the international market, gold could target the $5,200-5,500 zone in the medium term, while in India it may move toward ₹1,63,000-₹1,70,000 per 10 grams," said Renisha Chainani, Head of Research, Augmont.

Silver Price Target

" Silver, supported by strong industrial demand and supply tightness, has potential to target $120 internationally, with further extension toward $130 if momentum continues. In the Indian market, silver may aim for ₹3,90,000-₹4,20,000 per kg," added Chainani while hinting at some short-term price correction.

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