Gold and Silver rate today (April 1, 2024): Yellow metal at all-time high on MCX; white metal above Rs 75,500

Gold and Silver rate today (April 1, 2024): Domestic precious metal futures on Monday edged higher after moderation in a key U.S. inflation reading heightened hopes of a Federal Reserve rate cut in June.

Last seen, MCX gold futures (Jun 5) rose Rs 1,188 or 1.76 per cent at Rs 68,865 per 10 grams at the last count, having traded between Rs 66,465 and Rs 66,830 earlier in the day. MCX Silver futures (May 5) were up Rs 482 or 0.64 per cent Rs 75,530 per kg.

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended buying gold June futures on dips at 67,700, keeping the stop loss at Rs 67,300 and a target price of Rs 68,100. For silver May futures, she recommended buying on dips at Rs 75,000, with a stop loss of Rs 74,000 and a target of Rs 77,000.

Meanwhile, COMEX gold in the international market was up 0.15 per cent at $2,216.1.

"Gold continues to trade with strong bullish momentum and might open gap up on MCX amid attacks on Israeli troops on Sunday. The rising tension in the Middle East to boost the safe-haven flows further and benefit the gold price as Gold enters a secular bull trend targeting levels of even $ 2600 per ounce in Spot in the medium to long term perspective," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

"Gold is getting some support from China's property sector woes also. Support is at $2200/$2170/$2135. A rise to $2300 is possible," 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 1, 2024)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.