Gold and Silver rate today (April 15, 2024): Domestic metal edges higher; yellow metal above Rs 72,000; white metal above Rs 84,500

Gold and Silver rate today (April 15, 2024): Domestic precious metal futures on Monday (April 15) edged higher as the conflict in the Middle East entered a dangerous new phase.

Last seen, MCX gold futures (Jun 5) traded Rs 169, or 0.24 per cent, higher at Rs 72,012 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) traded Rs 624, or 0.75 per cent higher, at Rs 84,535 per kg. 

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold June futures on the rise at 72,000, keeping the stop loss at Rs 72,600 and a target price of Rs 71,300. For silver May futures, she recommended selling on the rise at Rs 83,000, with a stop loss of Rs 84,000 and a target of Rs 81,000.

Meanwhile, COMEX gold in the international market was down 0.50 per cent at $2,373.6.

"Overall Israel’s response to the missile and drone assault by Iran could determine whether the next stage is all-out war which could give gold direction in next 1 – 2 sessions. However technical indicators portend a profit-booking move at higher levels since gold was unable to sustain above $ 2400 per ounce levels on Friday with next resistance persisting in the range of $ 2375 – 2382 per ounce in spot," said Anand Rathi Commodities & Currencies' Qureshi.

"Gold may find it difficult to rise if geopolitical tensions do not escalate further. However, overall, the gold outlook remains constructive in the medium to long term," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Singh added that spot gold support is at $2300/$2265 and resistance is at $2400/$2432/$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 15, 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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