Current Gold Prices: Fluctuations and Market Insights

Gold Price Overview

Today's Gold Rates: Recently, gold prices have experienced some volatility after hitting a record high on January 29. As of Saturday, February 28, the cost of 24-carat gold was recorded at Rs 1,60,455, while 22-carat gold was priced at Rs 1,74,077, and 18-carat gold at Rs 1,20,368. Both investors and jewelers are closely monitoring these price changes. According to Goodreturns, the current rates in India are Rs 16,157 per gram for 24-carat gold, Rs 14,810 per gram for 22-carat gold, and Rs 12,118 per gram for 18-carat gold.

Gold Prices in Major Cities

Gold Rate Across Major Cities

Market Insights

Expert Commentary

Saumil Gandhi, a Senior Analyst in Commodities at HDFC Securities, commented on the recent rise in gold prices, attributing it to mixed signals from global markets. He noted that the market is currently assessing the implications of increasing US trade protectionism and ongoing tensions in the Middle East against a backdrop of a stable dollar. Investors are now focusing on significant macroeconomic indicators, particularly the upcoming US Producer Price Index (PPI) data, which is expected to influence the Federal Reserve's policy decisions and subsequently affect the US dollar and gold prices. Gandhi emphasized that remarks from various members of the Federal Open Market Committee will also be crucial for gaining further insights that could impact gold's momentum.