Gold Price In India Today, 12th Feb: 24K/100 Grams of Gold Rate Drops Rs 7,100; 1 Kg Silver Price At Rs 99,500

On Wednesday, February 12, the price of gold fell precipitously on the domestic market ahead of Jerome Powell's testimony and the upcoming US CPI report. Concerns over tariffs and central banks' ongoing gold stockpiling prompted global gold prices to fall below $2900 an ounce on Wednesday. The price of gold is anticipated to fluctuate amid inflation worries and remarks to be made by Fed Chair Powell during his speech on a rate cut.

Gold Price In India Today

In India, the current price of gold is Rs 8,667 per gramme for 24-carat gold and Rs 7,940 per gramme for 22-carat gold. While 22k of 100 grammes of gold will cost Rs 7,94,000 in India today compared to Rs 8,01,000 yesterday, reflecting a price cut of Rs 7,000, 22k of 10 grammes of gold prices in India on Wednesday hit Rs 79,400 compared to Rs 80,100 on Tuesday, showing a price drop of Rs 700.

The price of 24k of 10 grams of gold in India dropped by Rs 710 to Rs 86,670 on Wednesday from Rs 87,380 on Tuesday. Meanwhile, the price of 24k of 100 grams of gold dropped by Rs 7,100 to Rs 8,66,700 today from Rs 8,73,800 yesterday.

In India, the price of 18k of 10 grams of gold dropped by Rs 570 to Rs 64,970 on Wednesday from Rs 65,540 on Tuesday. Meanwhile, the price of 18k of 100 grams of gold dropped by Rs 5,700 in a single day to Rs 6,49,700 from Rs 6,55,400 yesterday.

Spot Gold Today

According to Reuters, U.S. gold futures dropped 0.4% to $2,922.40 on Wednesday, while spot gold dipped 0.1% to $2,895.38 an ounce by 0232 GMT after reaching a new high of $2,942.70 on Tuesday. Palladium strengthened 0.3% to $978.75, platinum remained constant at $983.15, while spot silver was stable at $31.83 an ounce.

Silver Rates In India Today

On Wednesday, February 12, silver prices in the domestic market stayed stable following US President Donald Trump's announcement of a 25% tariff on all imports of steel and aluminum. 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 faced profit booking at higher levels and formed a bearish candle on the daily chart. Recent price action suggests a pattern where MCX Gold shows weakness on one day but surpasses its high in the following sessions, indicating strong buying interest at lower levels. If MCX Gold sustains above 85550, it could advance towards 86000/86300 levels. Conversely, support is seen at 85000/87800 levels. Traders are advised to maintain tight stop losses, as the index is trading in a critical zone that could witness heightened volatility," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading slightly lower today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day, as gold prices are steady just below a record high as the US central bank signaled that it's in no hurry to deliver more interest-rate cuts, and traders weighed fears of a global trade war that could aid haven demand," as per Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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