Gold Price In India Today, 27 Feb: 22 & 24K/100 Gms of Gold Falls Over Rs 4,000; Silver Price Firm At Rs 9,800

The domestic gold market saw a steep decline on Thursday, February 27, on concerns about U.S. trade tariffs and sluggish economic development. This followed the continuing U.S.-UN discussions regarding the war between Russia and Ukraine, which boosted investor demand for safe havens. Following the announcement of poor economic data and a decline in U.S. consumer confidence, the market is now eagerly watching U.S. GDP, pending home sales, and inflation statistics.

Gold Price In India Today

In India, 24 carat gold costs Rs 8,738 per gramme, 22 carat gold costs Rs 8,010 per gramme, and 18 carat gold costs Rs 6,554 per gramme. While 22k of 100 grammes of gold will cost Rs 8,01,000 in India today compared to Rs 8,05,000 yesterday, reflecting a price decline of Rs 4,000, the price of 22k of 10 grammes of gold on Thursday hit Rs 80,100 compared to Rs 80,500 on Wednesday, marking a 400 rupee price drop.

In India, the price of 24k of 10 grams of gold dropped to Rs 87,380 on Thursday from Rs 87,820 on Wednesday, a fall of Rs 440. Meanwhile, the price of 24k of 100 grams of gold dropped to Rs 8,73,800 today from Rs 8,78,200 yesterday, a loss of Rs 4,400.

18k of 10 grams of gold would cost Rs 6,55,400 in India today compared to Rs 6,58,700 yesterday, reflecting a price decline of Rs 3,300. On Thursday, the price of 18k of 10 grams of gold reached Rs 65,540, down Rs 330 from Rs 65,870 on Wednesday.

Spot Gold Today

A strengthening US dollar and growing Treasury yields put pressure on gold as it weakened on Thursday. According to Reuters, spot gold dropped 0.4% to $2,905.64 an ounce as of 04:26 GMT, while U.S. gold futures also declined 0.4% to $2,918.20. Palladium dropped 0.3% to $923.93, platinum dropped 0.4% to $961.57, while spot silver declined 0.4% to $31.71 an ounce.

Silver Rates In India Today

Despite ongoing geopolitical worries, particularly the trade dispute between the United States and China, the price of silver in India remained stable today at Rs 98 per gramme and Rs 98,000 per kilogramme.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold extended its sideways behavior for the seventh consecutive session and formed a hammer candle featuring a bearish body on the daily chart. The commodity is observed following a rally-base-rally price action where its currently forming a base with active buyers stepping in at every dip, signaling a continuation of the uptrend, with prices likely to advance toward the 86500/87000 levels. On the downside, support for MCX Gold is observed at 85700/85400 levels, and a breakdown below 85400 could trigger profit booking, leading to a decline toward 85000/84750 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," commented Jebaris Nadar - Research Associate at 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 investors weighed President Donald Trump's latest statements about his plans to enact tariff plans, including on the European Union," stated Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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