Gold and Silver rate today (March 14, 2024): Yellow metal trades lower below Rs 65,800; white metal flat below Rs 75,250

Gold and Silver rate today (March 14, 2024): Domestic yellow metal futures on Thursday traded in the red, while white metal futures traded flat with a positive bias after sticky inflation data readings out of the US continued for the second straight month in February.

Last seen, MCX gold futures (Apr 5) were down 0.16 per cent or Rs 107 at Rs 65,790 per 10 grams at the last count, having traded between Rs 65,790 and Rs 65,818 earlier in the day. MCX Silver futures (May 5) were flat with a positive bias at Rs 75,221 per kg.

Technically, bullions are trading at an overbought zone, any time profit booking can be seen as per Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking. 

Khare sees support for gold April futures at 65700/65500 and resistance at 66100/66300. For silver May futures he sees support at 74600/74000 and resistance at 75500/76000.

Meanwhile, COMEX gold in the international market was flat with a negative bias at $2177.3.

"As recent US data have been weaker than expected and the Fed officials have not tried hard enough to quash market expectations of sharp rate cuts this year, gold may continue to find strong support into the dips," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Singh sees support for Spot gold at $2150/$2135 and resistance is in the $2200-$2215 zone.

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

City-wise gold rate (24k) in India (March 14, 2024)

(Disclaimer: These are indicative prices collected from trusted sources. Investors are advised to check prices with their jeweller before acting on the information.)

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.