Gold Rate In India Jumps to 3-Week High: Will Prices Surge Today? 24 Feb Outlook

Gold Rate in India: Prices of 24 karat, 22 karat and 18 karat gold in India witnessed a sharp surge on Monday, February 23, tracking strong gains in global commodities amid escalating geopolitical tensions and intensifying trade conflicts. Silver prices also rallied during the session, supported by fresh profit buying, robust industrial demand and ongoing supply-side constraints that continued to underpin sentiment.

As investors prepare for Tuesday's trading session, here is how gold and silver price are likely to move during the day.

Gold Rate in India

The price of 24 karat gold in India surged to Rs 16,135 per gram on Monday, February 23. The rate of 22 karat gold in India jumped to Rs 14,790 per gram. The rate of 18 karat gold in India rose by Rs 12,101 per gram during the session.

Silver Rate in India

The price of silver in India saw a sharp increase as the white metal regained the Rs 3 lakh mark. Silver rate in India jumped to Rs 300.10 per gram and to Rs 3,00,100 per kilogram on Monday.

Gold, Silver Outlook

"Gold's renewed upswing after a healthy correction reflects a rebuilding of the geopolitical risk premium. Escalating US-Iran tensions and fresh uncertainty around US trade policy, mainly driven by the Supreme Court's 6-3 ruling on Trump's tariff framework and the president's push for a new global levy, are pushing investors back toward safe havens. In this backdrop, gold is once again acting as insurance against tail risks in geopolitics and trade," explained Rajeev Sharan, Head, Criteria, Model Development & Research, Brickwork Ratings.

"A global 15% tariff would act as a shock across global supply chains. Especially for import-reliant sectors who would face higher input prices, forcing firms to either sacrifice margin to stay competitive, look to sourcing from other countries, or pass costs to consumers. This would likely lead to inflationary pressures, particularly in goods with cross-border production. As we have seen previously, there could be retaliation from trading partners and this could reduce global trade volumes, slowing global growth while keeping prices higher which could take the global economy towards a dangerous and unwanted stagflation environment," Ross Maxwell, Global Strategy Operations Lead, VT Markets.

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