Gold and Silver rate today (February 20, 2024): Precious metals subdued; gold above Rs 62,000; white metal above Rs 71,150

Gold and Silver rate today (February 20, 2024): Domestic yellow metal futures were flat with a positive bias on Tuesday, while domestic white metal futures traded muted with a negative bias as traders counted down to the release of Federal Reserve minutes and commentary from US central bankers that could shape expectations for interest rates.

Last seen, MCX gold futures (Apr 5) were flat at Rs 62,011 per 10 grams at the last count, having traded between Rs 61,979 and Rs 62,011 earlier in the day. MCX Silver futures (Mar 5) subdued with a negative bias at Rs 71,163 per kg.

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommends buying gold April futures on dips at 62,000, keeping the stop loss at Rs 61,600 and a target price of Rs 62,500. For silver March futures, she recommends buying on dips at Rs 71,200, with a stop loss of Rs 70,200 and a target of Rs 73,200.

Meanwhile, COMEX gold in the international market was up 0.26 per cent at $2029.3.

"Although the week has seen gains in yellow metals since the past two trading sessions, the direction remains data sensitive. Meanwhile, Silver is expected to trade with limited downside in short to medium term perspective as critical supports remain around the $ 21.60 – 21.90 per ounce range which was held for the past few weeks," said Anand Rathi Commodities & Currencies' Qureshi.

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

City-wise gold rate (24k) in India (February 20, 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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