Gold price today: Yellow metal near two-month low on strong $, rate hike fear - Check rates in Delhi, Mumbai and other cities

Gold price today: Gold continues to trade under pressure on the Multi Commodity Exchange (MCX) in the domestic market on account of strong US dollar and hawkish US Federal Reserve amid inflation concerns. The precious metal is currently trading around two-month lows.

Gold Futures for April contract on Monday quoted at Rs 55,337 per 10 grams, up by Rs 95 or 0.17 per cent, around noon. Silver Futures for March contract were trading at Rs 63,882 per kg, down by Rs 650 or 1.01 per cent.

In the international market, Gold quoting at $1,808.60 per ounce while Silver was down by 1 per cent at $ 20.727 per ounce.

Earlier on Friday, Core PCE price index showed inflation rose more than expected in January while consumer spending rebounded sharply by 1.8 per cent. 

Series of robust economic data reinforced expectations that Fed will remain hawkish. The Core PCE price index jumped 0.6 per cent in January against expectation of 0.4 per cent.

Trade call by Tradebulls Securities

Gold April Contract

Sell- Rs 55,400 

Stop Loss- Rs 55,600 

Target- Rs 55,100

Also Read: Income Tax: What are the 3 deductions under the new tax regime?

Meanwhile, the rupee was trading at 82.93 against the US dollar. The international oil benchmark Brent crude futures was down by 0.68 per cent to USD 82.26 per barrel.

Gold Price City-wise In India as of February 27, 2023, for 22k

Chennai - Rs 52,010 

Mumbai - Rs 51,350 

Delhi - Rs 51,500 

Kolkata - Rs 51,350

Bangalore - Rs 51,400 

Hyderabad - Rs 51,350 

Kerala - Rs 51,350

Pune - Rs 51,350 

Vadodara - Rs 51,400

Ahmedabad - Rs 51,400 

Jaipur - Rs 51,500 

Lucknow - Rs 51,500 

Coimbatore - Rs 52,010 

Madurai - Rs 52,010 

Vijayawada - Rs 51,350 

Patna - Rs 51,400 

Nagpur - Rs 51,350 

Chandigarh - Rs 51,500

Surat - Rs 51,400 

Bhubaneswar - Rs 51,350

Mangalore - Rs 51,400 

Visakhapatnam - Rs 51,350 

Nashik - Rs 51,380

(Disclaimer: These are indicative prices collected from trusted sources. Investors are recommended to check prices with their jeweller before investing/purchasing.)

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