Gold and Silver rate today (April 30, 2024): Precious metal trade lower; yellow metal below Rs 71,350; white metal below Rs 80,350

Gold and Silver rate today (April 30, 2024): Domestic precious metal futures on Tuesday traded under pressure ahead of the Federal Open Market Committee decision on Wednesday.

Last seen, MCX gold futures (Jun 5) slipped 0.37 per cent or Rs 267 at Rs 71,335 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) were down 0.63 per cent or Rs 511 at Rs 80,341 per kg. 

Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold June futures on the rise at 71,600, keeping the stop loss at Rs 72,000 and a target price of Rs 71,200. For silver May futures, she recommended selling on the rise at Rs 82,400, with a stop loss of Rs 83,400 and a target of Rs 80,400.

Meanwhile, COMEX gold in the international market was down 0.73 per cent at $2,340.6.

"The yellow metal is expected to trade with a bearish bias in the near term on hawkish Fed pivot expectations and contained geopolitical tensions. Support is at $2300/$2290/$2265 and resistance is at $2350/$2400," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Here's an indicative list of spot gold prices in some of the major Indian cities.

City-wise gold rate (24k) in India (April 30, 2024)

(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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