Gold and silver prices today moved higher in Indian markets amid firm global rates. On MCX, gold futures rose 0.65% Rs 53,332 per 10 gram while silver jumped 1% to Rs 69,761 per kg. Gold and silver prices again high today, Check latest rates.
In international markets, gold rates jumped to their highest in over a month as the Ukraine crisis and elevated inflation boosted the safe-haven demand of the precious metal. Spot gold was up 0.5% at $1,984.58 per ounce, highest since mid-March 14. Spot silver rose 0.7% to $25.87 per ounce, platinum gained 1.2% to $1,001.57, and palladium climbed 1.6% to $2,406.85.
The possibility of more sanctions on Russian energy has pushed up oil prices further. That’s adding to already elevated raw material prices, fuelling demand for gold as a hedge against accelerating inflation, say experts. Gold has support at $1956-1940, while resistance at $1984-2000. Silver has support at $25.40- 25.10, while resistance is at $25.95-26.18.
In rupee terms gold has support at Rs 52,670–52,410, while resistance is at Rs 53,220–53,450. Silver has support at Rs 68,550- 67,980 while resistance is at Rs 69,980–70,410,” he added. Gold traders will be looking for clues on as top Fed officials speak this week and Fed Chair Jerome Powell and ECB President Christine Lagarde will discuss global economy at IMF event on Thursday.
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Gold rates today in Hyderabad, Bangalore, Kerala, and Visakhapatnam have been stable. Going by the rates today, the Gold rates in Bangalore city for 10 grams of 22-carat is at Rs. 49,550 and the gold rate of 10 grams of 24-carat is at Rs. 54,060. The gold rates in Hyderabad are holding at Rs 49,550 per 10 gram of 22 carat and 10 grams of 24-carat gold is at Rs. 54,060.
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