Gold Prices Today On March 19 2024: As countries representing almost half of the global economy, including the US, UK, and Japan, released their interest rate decisions on Monday, domestic precious metal futures traded in the positive territory.
At the last count, MCX gold futures (Apr 5) were flat with a positive bias at Rs 65,668 per 10 grams. After trading between Rs 65,609 and Rs 65,687 earlier. MCX silver futures (May 5) were up Rs 118 or 0.16 per cent at Rs 76,615 per kilogram.
Based on Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking, bullions are trading in an overbought zone.
Gold Prices Today On March 19, 2024: Check Prices In Your Cities
| Cities | Gold prices for 24k (10 grams) |
| Mumbai | Rs 67,395T |
| Delhi | Rs 67,465 |
| Chennai | Rs 67,500 |
| Kolkata | Rs 67,530 |
| Bengaluru | Rs 67,635 |
| Hyderabad | Rs 67,500 |
| Ahmedabad | Rs 67,575 |
| Bhopal | Rs 67,400 |
| Visakhapatnam | Rs 67,540 |
| Jaipur | Rs 67,470 |
| Lucknow | Rs 67,475 |
| Coimbatore | Rs 67,560 |
| Madurai | Rs 67,495 |
Keeping a stop loss at Rs 65,100 and a target price of Rs 66,300, Neha Qureshi, Senior Technical and Derivative Research Analyst, Anand Rathi Commodities & Currencies recommended buying gold April futures on dips at 65,600. With a stop loss of Rs 74,500 and a target of Rs 77,500, she recommended buying silver May futures on dips at Rs 75,500.
At $2164.9, COMEX gold in the international market was muted with a positive bias.
“Gold witnessed modest gains amid a quiet session as all eyes are on the US Fed meeting which ends tomorrow. Swaps markets still indicate a 52% chance of a Fed cut in June. However the probabilities could vary sharply after the Fed chair delivers its statement tomorrow, while the yellow metal is expected to turn volatile post interest rate decision,” said Anand Rathi Commodities & Currencies’ Qureshi.
In contrast, Silver remains steady despite rising yields, because investors are more interested in the white metal than the yellow metal due to strong fundamentals.
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