Gold and Silver rate today (January 11, 2024): Precious metals shine in trade; yellow metal above Rs 62,100

Gold and Silver rate today (January 11, 2024): Domestic precious metal futures traded higher on Thursday ahead of a crucial US inflation report due today, with markets tempering expectations for Federal Reserve rate cuts early this year.

Last seen, MCX gold futures (Feb 5) rose 0.12 per cent or Rs 131 at Rs 62,127 per 10 grams at the last count, having traded between Rs 62,077 and Rs 62,147 earlier in the day. MCX Silver futures (Mar 5) were up Rs 112 or 0.16 per cent at Rs 72,081 per kg.

Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold February futures on rise at 62,000, keeping the stop loss at Rs 62,500 and a target price of Rs 61,500. For silver March futures, she recommended selling on rise at Rs 72,000, with a stop loss of Rs 73,000 and a target of Rs 70,000.

Meanwhile, COMEX gold in the international market was up 0.34 per cent at $2034.6.

"Gold prices are expected to turn volatile post-release of inflation numbers as a focus to remain on interest rate cut probabilities by the end of the first quarter which could keep prices supportive at lower levels in international markets," 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 (January 11, 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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