Gold Price In India Today, 28 Feb: 22K, 24K/100 Gms of Gold Drops Over Rs 5,000; 1 Kg Silver Falls Rs 1,000

As the U.S. dollar strengthened on Friday, February 28, the price of gold fell sharply on the domestic market. Despite investors patiently awaiting a significant inflation report, gold rates are anticipated to trade down due to pressure from a stronger U.S. dollar and rising Treasury yields, as well as President Donald Trump's trade policy and new tariff threats. Market players will be eagerly monitoring the Core PCE Price Index on Friday for more clues into the bullion market amid investors anticipating the publication of the U.S. Personal Consumption Expenditures data on Friday.

Gold Rates In India Today

In India, 24 carat gold costs Rs 8,684 per gramme, 22 carat gold costs Rs 7,960 per gramme, and 18 carat gold costs Rs 6,513 per gramme. In India, the price of 22k of 10 grams of gold dropped by Rs 500 to Rs 79,600 on Friday from Rs 80,100 on Thursday. Meanwhile, the price of 22k of 100 grams of gold dropped by Rs 5,000 to Rs 7,96,000 today from Rs 8,01,000 yesterday.

While 24k of 100 grammes of gold would cost Rs 8,68,400 in India today compared to Rs 8,73,800 yesterday, reflecting a price decline of Rs 5,400, 24k of 10 grammes of gold fell to Rs 86,840 on Friday from Rs 87,380 on Thursday, marking a price drop of Rs 540.

India's prices for 18k of 10 grammes of gold dropped by Rs 410 to Rs 65,130 on Friday from Rs 65,540 on Thursday, while 18k of 100 grammes of gold will cost Rs 6,51,300 today from Rs 6,55,400 yesterday, a Rs 4,100 decrease in price.

Spot Gold Today

According to Reuters, U.S. gold futures were down 0.3% to $2,886.80 on Friday, while spot gold was down 0.1% at $2,874.69 an ounce as of 02:32 GMT. Platinum strengthened 0.3% to $951.95, palladium climbed 0.1% to $920.34, while spot silver jumped 0.4% to $31.37 an ounce.

Silver Rates In India Today

In India, silver currently costs Rs 97,000 per kilogramme and Rs 97 per gramme. One kilogramme of silver will cost Rs 97,000 in India today compared to Rs 98,000 yesterday, marking a 1,000 rupee price drop; ten grammes of silver will cost Rs 970 compared to Rs 980 yesterday; and 100 grammes of silver will cost Rs 9,700 on Friday compared to Rs 9,800 on Thursday.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold extended its sideways behavior for the eight consecutive sessions and formed a bearish candle 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 85700/86250 levels. On the downside, support for MCX Gold is observed at 85000/84600 levels, and a breakdown below 84600 could trigger profit booking, leading to a decline toward 84000/83700 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," commented the 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 on track for its first weekly loss this year as investors booked profits from a recordbreaking rally amid increasing concern over President Donald Trump's tariff agenda, which has strengthened the US dollar," as per a report released by Nirmal Bang Securities Pvt. Ltd.

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.