Gold and Silver rate today (April 26, 2024): Yellow metal subdued above Rs 71,200, white metal trades in green above Rs 80,800

Gold and Silver rate today (April 26, 2024): Domestic yellow metal futures on Friday were subdued as persistent inflationary forces looked increasingly likely to push back the timing for US rate cuts. Meanwhile, the white metal edged higher. 

Last seen, MCX gold futures (Jun 5) flat with a positive bias at Rs 71,233 per 10 grams at the last count. Meanwhile, MCX Silver futures (May 3) climbed 0.18 per cent or Rs 142 at Rs 80,826 per kg. 

Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold June futures on the rise at 71,300, keeping the stop loss at Rs 71,700 and a target price of Rs 70,700. For silver May futures, she recommended selling on the rise at Rs 80,800, with a stop loss of Rs 81,800 and a target of Rs 78,800.

Meanwhile, COMEX gold in the international market was up 0.10 per cent at $2,344.8.

"US GDP growth slowed to 1.6 per cent annualised in the first quarter of this year, less than half the 3.4 per cent rate recorded in 4Q23, but core inflation was stronger, picking up from a two per cent annualised rate to 3.7 per cent. This implies upside risks to today's key monthly core PCE deflator and makes a near-term rate cut even less likely," said  Qureshi.

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

City-wise gold rate (24k) in India (April 26, 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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