Gold Rate in India Sees Massive Crash! 24K Down Rs 2.5 Lakh/100 Gm From Peak; Silver Down Too | 18 Feb Outlook

Gold Rate in India: Gold and silver prices in India witnessed a sharp decline during Tuesday's trading session, mirroring weakness in global commodity markets. The pullback in precious metals came as the US dollar regained strength, with investors reassessing the US Federal Reserve's interest rate outlook. As market participants gear up for Wednesday's session on February 18, here's a closer look at the expected trend in gold and silver prices.

Gold and silver rates in India saw a sharp surge in January, which was followed by a sharper correction. The recent price correction has brought an attractive buying opportunity for investors.

Gold Rate in India

The price of 24 karat gold in India declined by Rs 224 per gram to Rs 15,420 per gram on Tuesday, February 17. The rate of 22 karat gold in India fell by Rs 205 per gram to Rs 14,135 per gram. The rate of 18 karat gold in India dipped by Rs 168 per gram to Rs 11,565 per gram.

The rate of 24 karat gold in India surged to its all time high of Rs 17,80,000 per 100 grams on January 29, as per Goodreturns data. Since then, gold prices have declined by Rs 2,46,500 per 100 grams to Rs 15,42,000 per 100 grams, as on February 17.

Silver Rate in India

The price of silver in India saw a massive volatility during the trading session. Silver rate in India fell by Rs 8 per gram to Rs 260 per gram on Tuesday, February 18. Which means that per kilogram of silver was priced at Rs 2,60,000.

Gold, Silver Price Outlook

Gold and silver are likely to trade in range-bound manner on Wednesday, February 18. The recent price correction in gold appears to be more of profit taking and repositioning rather than a structural shift in bullish momentum.

"The medium-term outlook still supports the potential for gold to regain bullish momentum and move back towards its record highs if key macro drivers continue to be favourable.

Markets are increasingly pricing future monetary easing across major economies, and any clear indication towards rate cuts would lower real yields and weaken the opportunity cost of holding non-yielding assets like gold. Ongoing geopolitical tensions, elevated sovereign debt levels, and continued central-bank diversification into bullion provides ongoing demand," stated Ross Maxwell, Global Strategy Operations Lead, VT Markets.

"Gold continue to hover around $5,000/oz as dollar strength offset support from softer yields, while China's tighter curbs on speculative futures trading and holiday closures reduced volumes and near-term direction. Markets now focus on upcoming U.S. data releases, including Federal Reserve minutes, industrial output figures, and the PCE price index, which could shape expectations for policy and bullion trends," explained Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

Disclaimer:The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.