Gold and Silver rate today (February 19, 2024): Yellow metal trades in green above Rs 62,000; white metal trades lower below Rs 71,600

Gold and Silver rate today (February 19, 2024): Domestic yellow metal futures traded in green on Monday after an unexpected drop in U.S. retail sales weakened the dollar, boosting the appeal of non-yielding gold. The market's attention shifted to Federal Reserve signals on the potential timeline for an interest rate cut. Meanwhile, domestic white metal futures traded lower.

Last seen, MCX gold futures (Apr 5) were Rs 166 or 0.27 per cent at Rs 62,044 per 10 grams at the last count, having traded between Rs 61,970 and Rs 62,065 earlier in the day. MCX Silver futures (Mar 5) slipped 0.77 per cent or Rs 554 at Rs 71,558 per kg.

"We expect gold to trade higher towards 62220 levels, a break of which could prompt the price to move higher towards 62500 levels," said Saish Sandeep Sawant Dessai, Analyst, base metals, Angel One Ltd.

Meanwhile, COMEX gold in the international market was up 0.45 per cent at $2033.2.

"Following an unexpected drop in U.S. retail sales weakened the dollar, boosting the appeal of non-yielding gold. The market's attention shifted to Federal Reserve signals on the potential timeline for an interest rate cut," said Saish Sandeep Sawant Dessai, Analyst, base metals, Angel One Ltd.

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

City-wise gold rate (24k) in India (February 19, 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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