Gold and Silver rate today (March 28, 2024): Precious metals edge higher; yellow metal above Rs 66,550; white metal near Rs 74,850

Gold and Silver rate today (March 28, 2024): Domestic precious metal futures on Thursday edged higher as investors awaited key US data due Friday that may influence the Federal Reserve’s monetary-easing path. 

Last seen, MCX gold futures (Apr 5) rose Rs 207 or 0.31 per cent at Rs 66,574 per 10 grams at the last count, having traded between Rs 66,465 and Rs 66,830 earlier in the day. MCX Silver futures (May 5) were up Rs 183 or 0.25 per cent Rs 74,845 per kg.

Neha Qureshi, Senior Technical and derivative Research Analyst, Anand Rathi Commodities & Currencies recommended buying gold April futures on dips at 66,400, keeping the stop loss at Rs 66,000 and a target price of Rs 66,900. For silver May futures, she recommended buying on dips at Rs 74,700, with a stop loss of Rs 73,700 and a target of Rs 76,700.

Technically, bullions are looking positive as per Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking.

Khare sees support for gold April futures at 66100/65800 and resistance at 66500/66800. For silver May futures he sees support at 74200/73700 and resistance at 75000/75500.

Meanwhile, COMEX gold in the international market was up 0.15 per cent at $2,216.1.

"Recent weeks have been marked by a number of outsized moves in the gold price, without any obvious catalyst. Although momentum traders had accentuated price swings, the focus remains on Core PCE Index data due tomorrow with any indication of elevated inflation in February could cast a doubt on June rate cut weighing on sentiments for yellow metal," said Neha Qureshi, Senior Technical & Derivative Research Analyst, Anand Rathi Commodities & Currencies.

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

City-wise gold rate (24k) in India (March 28, 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.