Gold and Silver rate today (March 15, 2024): Yellow metal flat above Rs 65,650; white metal up over Rs 75,450

Gold and Silver rate today (March 15, 2024): Domestic yellow metal futures on Friday traded flat with a positive bias, while white metal futures traded in green on higher inflation and food costs.

Last seen, MCX gold futures (Apr 5) were muted at Rs 65,656 per 10 grams at the last count, having traded between Rs 65,643 and Rs 65,684 earlier in the day. MCX Silver futures (May 5) were up Rs 256 or 0.34 per cent at Rs 75,482 per kg.

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended selling gold April futures on the rise at 65,600, keeping the stop loss at Rs 66,000 and a target price of Rs 65,000. For silver March futures, she recommended selling on the rise at Rs 75,200, with a stop loss of Rs 76,200 and a target of Rs 73,200.

Technically, bullions are trading at a mixed zone, gold is trading at an overbought zone, while silver is looking strong as per Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking. 

Khare sees support for gold April futures at 65400/65200 and resistance at 65800/66050. For silver May futures he sees support at 74800/74200 and resistance at 75500/76000.

Meanwhile, COMEX gold in the international market was flat with a negative bias at $2167.8.

"Gold is expected to range trade ahead of the US FOMC monetary policy decision due on March 20. Today it might trade with a bearish bias though," said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

Singh sees support for Spot gold at $2148/$2135/$2100 and resistance at $2095.

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

City-wise gold rate (24k) in India (March 15, 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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