Gold price today: Yellow metal futures scale Rs 60,000 peak for first time ever — check out the spot price in your city

Gold price today: Gold hits an all-time high on MCX, and trades above Rs 60,000, should you buy or sell?

Gold price today: In the international market, Gold quoted at USD 1,998.60 per ounce while Silver was up by 0.73 per cent at USD 22.615 per ounce, Pic- Reuters

Gold price today: Gold price on Monday surged on Multi Commodity Exchange (MCX) and hit all-time high.

Gold Futures maturing in April quoted at 60,057 per 10 grams, flat by Rs 674 or 1.14 per cent.. Likewise, Silver May Futures quoted at Rs 69,066 up by Rs 565 or 0.82 per cent.

In the international market, Gold quoted at $1,998.60 per ounce while Silver was up by 0.73 per cent at $22.615 per ounce.

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"Gold hitting 60K in rupee terms doesn't come as a surprise with currency USDINR at 82.45 supporting the conversion of comex gold $1980 an ounce. Last week's insane rally proves the fundamentals of safe haven and store for value as the banking credit crisis continued to grow and spread,” said NS Ramaswamy, Head of Commodities, Ventura Securities.

He added markets are now eyeing FOMC meeting for their stance on the interest rate and guidance for future action. It could keep the previous metal volatile in the following sessions.

“Bullion charts are now trading at the overbought zone, any time we can see good profit booking, Momentum Indicator RSI also indicates the same,” Amit Khare, AVP- Research Commodities, Ganganagar Commodity

According to Reinsha Chainani, Head Research, Augmont, Gold rally will continue for two more days till the next Fed meeting.

Trade call by IIFL Securities

Gold April contract

Buy- Rs 59,000

Stop Loss- Rs 58,650

Target- Rs 59,500

Silver May Contract

Buy- Rs 67,500

Stop Loss- Rs 67,000

Target- Rs 69,000

Meanwhile, the rupee was trading at 82.502 against the US dollar. The international oil benchmark Brent crude futures was down by 3.04 per cent to USD 70.75 per barrel.

Gold Price City-wise In India as of March 20, 2022, for 22k

Chennai -Rs 55,600

Mumbai -Rs 54,800

Delhi -Rs 54,950

Kolkata -Rs 54,800

Bangalore -Rs 54,850

Hyderabad -Rs 54,800

Kerala -Rs 54,800

Pune -Rs 54,800

Vadodara -Rs 54,850

Ahmedabad -Rs 54,850

Jaipur -Rs 54,950

Lucknow -Rs 54,950

Coimbatore -Rs 55,600

Madurai -Rs 55,600

Vijayawada -Rs 54,800

Patna -Rs 54,850

Nagpur -Rs 54,800

Chandigarh -Rs 54,950

Surat -Rs 54,850

Bhubaneswar -Rs 54,800

Mangalore -Rs 54,850

Visakhapatnam -Rs 54,800

Nashik -Rs 54,830

(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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