Gold Price In India Today, 17th Feb: 24K/100 Grams of Gold Rate Rally Rs 5,500; Silver Prices Unchanged

Gold prices in the domestic market saw a sharp rise on Monday, February 17, as market players anticipated additional developments on U.S. President Donald Trump's plans for reciprocal tariffs. The bullion market is anticipated to see a roller coaster ride due to the increased global trade tensions, while the focus this week will be on the FOMC meeting minutes and the services PMI from key nations.

Gold Price In India Today

In India, the current price of gold is Rs 8,662 per gramme for 24 carat gold and Rs 7,940 per gramme for 22 carat gold. In India, the price of 22k of 10 grams of gold climbed to Rs 79,400 on Monday from Rs 78,900 earlier, signifying a 500 rupee price hike. Meanwhile, the price of 22k of 100 grams of gold surged to Rs 7,94,000 today from Rs 7,89,000 before, signifying a 5,000 rupee price climb.

A 24k piece of 10 grams of gold will cost Rs 86,620 in India on Monday, up Rs 550 from Rs 86,070 yesterday. Similarly, a 24k piece of 100 grams of gold would cost Rs 8,66,200 in India today, up Rs 5,500 from Rs 8,60,700 before.

Silver Price In India Today

Today, the price of silver in India remains constant at Rs 1,00,500 per kilogramme and Rs 100.50 per gramme. Due to rising demand in manufacturing and electrification as well as heightened attraction as a safe haven, international silver prices surged beyond $33 an ounce on Friday, hitting a three-month high and surpassing other metals.

MCX Silver Outlook Today

"On the technical front, MCX Silver experienced a tug of war behavior among market participants and formed a doji candlestick pattern on the weekly chart. The commodity retested and reversed from its symmetrical triangle breakout levels with active buyer's participation at key levels, suggesting a positive bias. In terms of key levels, resistance for MCX Silver is positioned at 96000/98000 levels with a breakout above 98000 potentially leading the commodity towards 100000/102000 levels. In contrast, support for the commodity can be seen at 94800/93500 levels. Traders are advised to apply 'Buy on Dips' for short term gains," as per Way2Wealth Brokers Pvt. Ltd.

MCX Gold Outlook Today

"International Gold prices slipped below $2900 per ounce on Friday after testing a record high of $2940 earlier in the session, as markets weighed global safe-haven demand and the Federal Reserve's monetary policy outlookFrom a technical perspective, MCX Gold faced profit booking at higher levels and formed a bearish candle on the daily chart. The momentum indicator, Relative Strength Index (RSI), witnessed a negative crossover as the green line broke below its signal line, indicating that the commodity was trading in the overbought zone. On the downside, support for MCX Gold is observed at 84400/84000 levels, and a breakdown below 84000 could trigger further profit booking, leading to a decline toward 83750/83500 levels. In contrast, resistance is seen at 85000/85280 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," according to Way2Wealth Brokers.

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.