Gold and Silver rate today (January 25, 2024): Precious metals trade in red; yellow metal near Rs 62,000; white metal above Rs 71,750

Gold and Silver rate today (January 25, 2024): Domestic yellow metal futures were flat with a negative bias on Thursday, while white metal slipped, following negative sentiments emerging from US PMI, while markets awaited fresh catalysts to continue placing their bets on the Federal Reserve (Fed) easing cycle.

Last seen, MCX gold futures (Feb 5) were flat with negative bias at Rs 61,957 per 10 grams at the last count, having traded between Rs 61,932 and Rs 61,957 earlier in the day. MCX Silver futures (Mar 5) traded Rs 84 or 0.12 per cent lower at Rs 71,785 per kg.

Qureshi recommended selling gold February futures on rise at 62,000, keeping the stop loss at Rs 62,400 and a target price of Rs 61,300. 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 flat with a positive bias at $2016.2

"Personal Consumption Expenditures (PCE) and the preliminary Q4 Gross Domestic Product (GDP) due on Thursday, will set the pace of the markets as they will give markets more guidance on the Fed’s easing calendar as might suggest delay in interest rate cuts," 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 25, 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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