Gold and Silver rate today (March 27, 2024): Precious metals trade flat; yellow metal above Rs 66,150; white metal above Rs 74,400

Gold and Silver rate today (March 27, 2024): Domestic precious metal futures on Wednesday traded flat as investor focus shifted to US data later this week that could influence the nation’s monetary easing trajectory.

Last seen, MCX gold futures (Apr 5) were flat with a positive bias at Rs 66,153 per 10 grams at the last count, having traded between Rs 66,077 and Rs 66,204 earlier in the day. MCX Silver futures (May 5) were flat with a negative bias Rs 74,469 per kg.

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold April futures on the rise at 66,100, keeping the stop loss at Rs 66,200 and a target price of Rs 65,600. For silver May futures, she recommended selling on the rise at Rs 74,500, with a stop loss of Rs 75,400 and a target of Rs 72,500.

Technically, bullions are trading in the mixed zone, gold is looking strong while silver is looking weak, as per Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for gold April futures at 65900/65700 and resistance at 66200/66400. For silver May futures he sees support at 74000/73500 and resistance at 75000/75500.

Meanwhile, COMEX gold in the international market was flat with a positive bias at $2,199.3.

"With traders still pricing in a 64 – 65 per cent chance of a rate cut in June amid PCE Index to be in highlight this week, gold could remain volatile in the coming sessions amid positive bias to persist on a medium to long term basis," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

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

City-wise gold rate (24k) in India (March 27, 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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