Gold and Silver rate today (April 18, 2024): Precious metals subdued; yellow metal above Rs 72,460; white metal above Rs 83,500
Gold and Silver rate today (April 18, 2024): Last seen, MCX gold futures (Jun 5) traded flat at Rs 72,461 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) were subdued at Rs 83,534 per kg.
![Gold and Silver rate today (April 18, 2024): Precious metals subdued; yellow metal above Rs 72,460; white metal above Rs 83,500](https://cdn.zeebiz.com/sites/default/files/2024/04/18/288657-gold-144.jpg?im=FitAndFill=(1200,900))
Gold and Silver rate today (April 18, 2024): Domestic precious metal futures on Thursday (April 18) were subdued on indications the Federal Reserve will wait longer than previously expected to cut interest rates. Yellow metal futures traded flat with a negative bias above Rs 72,450 and white metal futures were muted with a positive bias.
Last seen, MCX gold futures (Jun 5) traded flat at Rs 72,461 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) were subdued at Rs 83,534 per kg.
Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommends selling Gold June futures on rise at 72,500, keeping the stop loss at Rs 73,000 and a target price of Rs 72,000. For silver May futures she recommends selling on the rise at Rs 83,400, with a stop loss of Rs 84,400 and a target of Rs 81,00.
Meanwhile, COMEX gold in the international market was flat with a positive bias at $2,389.3.
"Gold having corrected yesterday by more than one per cent is still holding ground despite Fed pivot being shifted to July amid worsening relations between US & China spurring haven demand for gold at lower levels," said Anand Rathi Commodities & Currencies' Neha Qureshi
She added the latest beige book survey in the US released yesterday revealed businesses remaining “cautiously optimistic” on the performance of the state of the economy later in the year which could continue to support safe-haven demand in gold in short-term perspective.
Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas expects gold in the international market to decline further in the near future unless geopolitical tensions surface up yet again. Singh sees support for Spot gold at $2320/$2300 and resistance at $2400/$2450.
Here's an indicative list of spot gold prices in some of the major Indian cities.
City-wise gold rate (24k) in India (April 18, 2024)
Cities | Gold prices for 24k (10 grams) |
Mumbai | Rs 75,400 |
Delhi | Rs 75,470 |
Chennai | Rs 75,540 |
Kolkata | Rs 75,580 |
Bengaluru | Rs 75,600 |
Hyderabad | Rs 75,545 |
Ahmedabad | Rs 75,555 |
Bhopal | Rs 74,550 |
Visakhapatnam | Rs 75,530 |
Jaipur | Rs 75,590 |
Lucknow | Rs 74,565 |
Coimbatore | Rs 75,630 |
Madurai | Rs 75,660 |
(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)
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