Gold Price Today: Gold Moves Higher; Silver Trades Above Rs 68,300
Gold Price In India: Gold and silver futures traded higher on Thursday, March 24, amid a volatile session. On the Multi Commodity Exchange (MCX), gold futures, due for an April 5 delivery, were last seen 0.17 per cent up at Rs 51,854, compared to the previous close of Rs 51,767. Silver futures, due for a May 5 delivery, were last seen 0.10 per cent higher at Rs 68,335 against the previous close of Rs 68,284.
Domestic spot gold with a purity of 24 carats opened at Rs 51,777 per 10 grams today, and silver at Rs 67,770 per kilogram - both rates excluding GST (goods and services tax), according to Mumbai-based industry body India Bullion and Jewellers Association (IBJA).
Foreign Exchange Rates:
Globally, gold prices were in a range-bound trade today, as markets exercised caution over the Russia-Ukraine conflict and ahead of U.S. inflation data that could offer fresh clues about the policy stance from the U.S. Federal Reserve. Spot gold was down 0.2 per cent at $1,939.93 per ounce. U.S. gold futures were up 0.2 per cent at $1,941.10.
Analyst View:
Ravi Singh, Vice-President and Head of Research, ShareIndia: "Gold prices are expected to outperform even after the current war tension settles as due to the after-effects of war -- higher commodities prices and soaring inflation. The world would see some sort of recession zone where gold would be the preferred asset above all."
He suggested, "Buy Zone near - Rs 51,600 for the target of Rs 51,900. Sell Zone below - Rs 51,500 for the target of Rs 51,300."
Amit Khare, AVP - Research Commodities, Ganganagar Commodity Ltd: "Market are very volatile nowadays due to the Russia-Ukraine crisis. As per the technical chart, gold and silver are now showing some strength and are ready for a pullback rally. Momentum indicator RSI also cited the same in hourly as well as the daily chart. So traders are advised to create fresh buy positions near given support levels. They should focus important technical levels given below for the day: April Gold closing price Rs 51,767, Support 1 - Rs 51,600, Support 2 - Rs 51,400, Â Resistance 1 - Rs 52,100, Resistance 2 - Rs 52,600. May Silver closing price Rs 68,264, Support 1 - Rs 68,000, Support 2 - Rs 67,600, Resistance 1 - Rs 68,500, Resistance 2 - Rs 69,000."
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
