Gold Rate in India Eyes Rs 1.6 Lakh Mark; Silver Chases Rs 3 Lakh; Will Prices Rise Today? 23 Feb Outlook

Gold Rate in India: Gold prices rallied sharply in the latter half of last week, while silver rebounded strongly after trimming earlier losses. The momentum gathered pace after the US Supreme Court struck down President Donald Trump's tariff policy on Friday, even as escalating geopolitical tensions between the US and Iran heightened safe-haven appeal. With global cues becoming increasingly volatile, investors will closely track gold and silver prices on Monday, February 23.

Gold Rate In India

The price of 24 karat gold in India stood at Rs 15,928 per gram, as per Goodreturns data on Sunday, February 22. The rate of 22 karat gold in India stood at Rs 14,600 per gram. The rate of 18 karat gold in India stood at Rs 11,946 per gram.

Silver Rate in India

The price of silver in India also saw a sharp rebound on Saturday. Silver rate in India increased to Rs 275 per gram and to Rs 2,75,000 per kilogram on Saturday. Silver showcased a massive volatility in the last two months, with prices surging massively above Rs 4 lakh, only to crash in February.

MCX Gold, Silver Rate Today

Domestic bullion prices end the week higher, with both MCX gold and silver contracts recording gains. MCX gold April futures settle 0.07% up at Rs 1,56,993 per 10 grams, while March silver contracts post a stronger advance.

MCX silver March futures close 4.41% higher at Rs 2,52,042 per kilogram, reflecting robust buying interest. At the same time, the international gold rate rises above $5080 per ounce on Friday, underscoring firm global precious metal sentiment.

Gold, Silver Price Outlook

Gold and silver prices are likely to remain volatile during Monday's trading session amid heightened geopolitical uncertainty and upcoming developments related to US tariffs. However, experts continue to remain bullish on the precious metals in the long-term.

"The uptick comes after recent consolidation, with buyers stepping in on dips following sharp volatility earlier this month. Global cues, including geopolitical tensions and expectations around US interest rates, continue to drive near-term sentiment. Despite intermittent corrections, the broader trend for precious metals remains supportive. Investors are viewing current moves as part of a consolidation phase rather than a reversal," stated Gaurav Garg, Research Analyst at Lemonn Markets Desk.

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