Gold Rate Today: Gold Prices In India Stay Flat on June 21 Amid Weak Global Cues; Check 24K, 22K, 18K Rates

Gold prices in India remained unchanged today, holding steady at the previous session's levels due to limited market activity. However, the broader outlook for gold rates is still weak as global factors continue to weigh on prices.

Spot gold prices were hovering near $4246 per ounce at the end of trading on Friday. It is expected to stay under pressure, with the US Federal Reserve's decision to keep interest rates unchanged while signaling the possibility of one rate hike later this year overshadowing the positive sentiment from the US-Iran peace agreement.

Gold prices in India, June 21

On 21 June, the 24 carat gold rate today in India stood stable at Rs. 1,46,080 per 10 grams and Rs. 14,60,800 per 100 grams of yellow metal. Similarly, 10 grams of 22 carat yellow metal currently rents at Rs. 1,33,900 and the 100 grams of 24 carat gold cost Rs.13,39,000. Just like the 18-carat gold rates in India today, it costs Rs. 1,09,560 per 10 grams, while 100 g costs Rs.10,95,600.

Silver rates in India today

Silver prices in India today are stable for the 2nd consecutive session today, and the prices mirrored yesterday's rates of Rs. 2,50,000 per kg. The price of 100 grams of silver was Rs. 25,000.

MCX Gold and Silver Futures Update

Trading on the Multi Commodity Exchange (MCX) is closed today due to the weekend holiday, So gold futures prices slated to mature on August 3rd, slipped sharply before closing at Rs. 1,47,239,a rise of 1.39%. Similarly, silver futures with an expiry date of July 3rd , showed a decline during the trading session. Prices fell by 2.04% to Rs. 2,32,736 before settling for the day.

Market expert insights and outlook on gold prices

As per the commodity research report from WayToWealth, "MCX Gold ended lower in the previous session and continued to face selling pressure near the 10-DEMA and 20-DEMA, which are currently acting as strong resistance levels. The formation of a bearish Marubozu candlestick reflects aggressive selling throughout the session and highlights the dominance of bears in the short term. The negative daily momentum further suggests that any pullback is likely to attract fresh selling pressure unless the price manages to reclaim key moving average levels."

"On the technical front, any recovery towards the resistance band is likely to face selling pressure. The outlook will require a review only if the commodity sustains above 153,000, which could indicate a shift in short-term sentiment and improve the overall technical structure." the report further added.

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