Gold Price Today: Yellow metal tepid as investors await Fed minutes - Check rates in Delhi, Mumbai and other cities

Gold price today: Gold price on Tuesday traded under pressure on the Multi Commodity Exchange (MCX) amid strengthening of the US dollar and rising fear of rate hike by the Fed. The yellow metal hit 5-week low but managed to hold the level of Rs 56,000 per 10 grams on MCX. Gold Futures for April contract declined traded at Rs 56,142, down by 0.13 per cent. Silver Futures for March quoted at Rs 65,693 per kg, down by 0.40 per cent.

In the international market, Gold quoted at USD 1,838.10 per ounce while Silver was flat at USD 21.67 per ounce.

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According to Manoj Jain of Prithvi Finmart, investors are waiting for minutes from the Federal Reserve's latest monetary policy to get cues on the central bank's future rate-hike path.

Notably, the recent data from the United States has heightened inflation concerns, sparking fears of a prolonged higher interest-rate regime in the world's largest economy. Minutes from the Fed's latest policy meeting are due on Wednesday.

Trade call by Tradebulls Securities

Gold April Contract

Sell - Rs 56,200

Stop loss- Rs 56,320

Target- Rs 56,000

Silver March Contract

Sell- Rs 65,750

Stop Loss- Rs 66,000

Target- Rs 65,200

Meanwhile, the rupee was trading at 82.75 against the US dollar. The international oil benchmark Brent crude futures was up by 0.70 per cent to USD 83.04 per barrel.

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Gold Price City-wise In India as of February 21, 2023, for 22k

Chennai - Rs 52,700

Mumbai - Rs 52,000

Delhi - Rs 52,150

Kolkata - Rs 52,000

Bangalore - Rs 52,050

Hyderabad - Rs 52,000

Kerala - Rs 52,000

Pune - Rs 52,000

Vadodara - Rs 52,050

Ahmedabad - Rs 52,050

Jaipur - Rs 52,150

Lucknow - Rs 52,150

Coimbatore - Rs 52,700

Madurai - Rs 52,700

Vijayawada - Rs 52,000

Patna - Rs 52,050

Nagpur - Rs 52,000

Chandigarh - Rs 52,150

Surat - Rs 52,050

Bhubaneswar - Rs 52,000

Mangalore - Rs 52,050

Visakhapatnam - Rs 52,000

Nashik - Rs 52,030

(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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