Gold and Silver rate today (March 11, 2024): Precious metals subdued; yellow metal at Rs 66,000; white metal above Rs 74,200

Gold and Silver rate today (March 11, 2024): Domestic yellow metal futures on Monday was subdued with a negative bias, meanwhile, domestic white metal traded flat with a positive bias. 

Last seen, MCX gold futures (Apr 5) were muted at Rs 66,001 per 10 grams at the last count, having traded between Rs 66,000 and Rs 66,044 earlier in the day. MCX Silver futures (May 5) were flat at Rs 74,280 per kg.

Meanwhile, COMEX gold in the international market was flat with a negative bias at $2184.4.

"Gold is likely to remain buoyant ahead of the US CPI inflation data.  Although a rise to $2300 is possible in the near term, the metal is quite overbought presently, so a correction will be healthy, thus buying the dips is preferred," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Singh sees support for Spot gold is at  $2165/$2135/$2100/$2088, whereas resistance is in the $2200-$2215 zone followed by $2250.

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

City-wise gold rate (24k) in India (March 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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