Gold prices in India kickstarted the latest trading week on a strong note with 24K gold prices jumping sharply by Rs 5,500 per 100 grams on Monday, February 17. Gold prices in 22K and 18K were nearing Rs 80,000 and Rs 65,000 mark. Meanwhile, MCX gold traded around the Rs 85,000 mark. On the other hand, silver prices were unchanged with 1 kg at Rs 100,500 in India. The performance comes amidst a surge in spot gold to over $2,900 an ounce on Monday.
Gold Prices In India:
24K gold price surged by Rs 5,500 in 100 grams to Rs 8,66,200, while 10 grams gold price was up by Rs 550 to Rs 86,620.
22K gold price climbed by Rs 5,000 to Rs 7,94,000 per 100 grams, while 10 grams gold price is up by Rs 500 to Rs 79,400. Furthermore, 18K gold prices climbed by Rs 4,100 and Rs 410 in 100 grams and 10 grams to Rs 6,49,700 and Rs 64,970 respectively.
Gold Prices In Major Cities:
Gold Prices In Chennai: Here, 18k gold prices stood at Rs 65,350 per 10 grams, while 24K and 22K gold prices were at Rs 86,620 and Rs 79,400 per 10 grams respectively.
Gold Prices In Mumbai: Here, gold prices were at Rs 64,970 per 10 grams in 18K, while at Rs 86,620 per 1 grams in 24K and at Rs 79,400 per 10 grams in 22K.
Gold prices are similar in cities like Kolkata, Bangalore, Hyderabad, Kerala and Pune just like Mumbai.
Gold Prices In Delhi: In the national capital, 18k gold price stood at Rs 65,090 per 10 grams, while the prices were at Rs 86,770 per 10 grams in 24k and at Rs 79,550 per 10 grams in 22K.
Gold Prices In Ahmedabad: 24K gold price stood at Rs 86,670 per 10 grams, while the prices were at Rs 79,450 per 10 grams in 22K and at Rs 65,010 per 10 grams in 18k.
Silver Prices In India:
Silver prices in India stood flat on Monday. 1Kg silver price was t Rs 1,00,500, while 1 gram was at Rs 100.50. In cities like Chennai, Hyderabad and Kerala, silver prices stood at Rs 1,08,000 per 1kg.
MCX Gold, Silver Prices:
MCX gold price with April 2025 expiry, traded at Rs 85,010 per 1 gram, up by Rs 323 or 0.4%. In the early trade, the bullion touched an intraday high of Rs 85,170 per 10 grams.
Furthermore, MCX silver price with March 2025 expiry, stood at Rs 95,538 per 1kg, marginally down by Rs 48 or 0.05%, at the time of writing. The silver had touched an intraday high of Rs 95,774 per 1 kg in the early trade.
Spot Gold Price:
As per Trading Economics data, Gold rose above $2,900 per ounce on Monday in a likely technical rebound, following its largest one-day drop in two months.
What Is Impacting Gold Prices On Monday, February 17?
According to Trading Economics, traders remain focused on the risk of market disruptions due to U.S. President Donald Trump's tariff threats, as well as the Federal Reserve's monetary policy outlook. Trump's tariff policies have become increasingly unpredictable due to delays and exemptions, with geopolitical and economic uncertainties boosting gold's appeal as a haven. Investors also closely monitor news of a possible peace deal to end the war in Ukraine.
Additionally, a soft reading on retail sales last week revived bets on Fed rate cuts this year. Traders will be looking to the Fed's latest meeting minutes due later this week for any clues about the outlook for further easing, the data added.
Also, Rahul Kalantri, VP of Commodities, Mehta Equities said, optimism surrounding a potential resolution to the Russia-Ukraine conflict increased after the U.S. President engaged in ceasefire negotiations with both nations' leaders. Gold has support at USD 2870-2855 while resistance at USD 2924-2942. Silver has support at USD 31.98-31.78 while resistance is at USD 32.50-32.72. In INR gold has support at Rs 84,450-84,260, while resistance at Rs 85,180-86,440. Silver has support at Rs 94,650-94,050 while resistance at Rs 96,350-97,250.
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