Gold Price In India Today, 20th Feb: 24K/100 Grams Of Gold Rate Jumps Rs 3,900; Silver Rate Flat

Gold's reputation as a safe-haven asset has been strengthened by ongoing global uncertainty brought on by tariffs, which has caused gold prices to rise on the domestic market on Thursday, 20th February. The price of gold has gone up as investors have been looking for policy insights in the most recent FOMC minutes. International gold prices have stayed over $2,930 per ounce. Investors will now be looking for hints about the direction of interest rates in the U.S. Federal Reserve's January meeting minutes.

Gold Price In India Today

In India, 24 carat gold costs Rs 8,804 per gramme, 22 carat gold costs Rs 8,070 per gramme, and 18 carat gold costs Rs 6,603 per gramme. While 22k of 100 grammes of gold would cost Rs 8,07,000 in India today compared to Rs 8,03,500 yesterday, reflecting a price spike of Rs 3,500, the price of 22k of 10 grammes of gold on Thursday hit Rs 80,700 compared to Rs 80,350 on Wednesday, showing a price surge of Rs 350.

While 24k of 100 grammes of gold would cost Rs 8,80,400 in India today compared to Rs 8,76,500 yesterday, indicating a price spike of Rs 3,900, 24k of 10 grammes of gold prices in India hit Rs 88,040 on Thursday compared to Rs 87,650 on Wednesday, marking a price surge of Rs 390.

The price of 18k of 10 grammes of gold in India increased by Rs 290 to Rs 66,030 on Thursday from Rs 65,740 on Wednesday, while the price of 18k of 100 grammes of gold surged by Rs 2,900 to Rs 6,60,300 today from Rs 6,57,400 yesterday.

Silver Rates In India Today

India's silver prices were unchanged today despite fluctuations in the global market, industrial demand, and currency rate fluctuations. In India, silver now costs Rs 1,00,500 per kilogramme and Rs 100.50 per gramme. Local prices are following the trend of rising internationally silver prices, which are predicted to hit $35 per ounce. The surge in imports, particularly for the solar energy industry, where demand is predicted to quadruple this year, is a significant factor influencing silver prices in India.

Spot Gold Today

According to Reuters, spot gold climbed 0.2% to $2,937.74 an ounce at 02:35 GMT, trading close to the all-time high of $2,946.85 reached on Wednesday, while U.S. gold futures climbed 0.7% to $2,955.90 on Thursday, holding strong around a record high. An ounce of spot silver firmed 0.1% to $32.75. Palladium jumped 0.1% to $968.94 while platinum remained stable at $971.90.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold saw profit bookings at higher levels and formed a gravestone doji candlestick pattern on the daily chart. Recent price action suggests a pattern where MCX Gold shows weakness on one day but surpasses its high in the following sessions, indicating strong buying interest at lower levels. If MCX Gold breaks above 86120, it could advance towards 86500/86800 levels. Conversely, support for the commodity can be seen at 85650/85250 levels. Traders are advised to maintain tight stop losses, as the index is trading in a critical zone that could witness heightened volatility," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Prediction Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices are held near a record as fresh geopolitical tensions underpinned demand for haven assets, with traders looking past signals the Federal Reserve is in no rush to cut interest rates," stated Nirmal Bang Securities Pvt. Ltd.