Gold Rate in India Regains Momentum; 24K Jumps Rs 22,900/100 Gm In 5 Days; Will Prices Jump On Feb 28? Outlook

Gold Rate in India: Gold prices in India partially recovered on Friday after witnessing a sharp decline in the previous session, while silver rates remained largely steady. The movement in domestic bullion prices mirrored firm trends in international markets during the trading session. Although markets are set to remain closed over the weekend, investors will continue to keep a close watch on any changes in gold and silver prices on Saturday, February 28.

Firm United States trade policy and inflation concerns continued to drive gold's safe haven rally. Additionally, geopolitical tensions are also likely to impact the market sentiment in the near-term.

Gold Rate in India

The price of 24 karat gold in India jumped Rs 55 per gram to Rs 16,157 per gram on Frdiay, February 27. The rate of 22 karat gold in India surged by Rs 50 per gram to Rs 14,810 per gram and the rate of 18 karat gold in India jumped by Rs 41 per gram to Rs 12,118 per gram.

The price of 24 karat gold in India has surged around Rs 229 per gram in five days. The rate of per 100 grams of 24 karat gold in India stood at Rs 15,92,800 per on February 22. Since, then the price has jumped around Rs 22,900 to Rs 16,15,700 per 100 gram till February 27.

Silver Rate in India

The price of silver in India remained stable on Friday. Silver rate in India stood at Rs 285 per gram and to Rs 2,85,000 per kilogram.

Gold, Silver Price Outlook

The prices of gold and silver are likely to remain stable on Saturday, February 28. However, experts believe that precious metals are up for upside movement in the long-term.

"Sentiment remained cautious ahead of key US economic data and developments in US‑Iran negotiations, while expectations of resilient industrial demand continued to underpin prices. Overall, precious metals remain volatile but fundamentally supported, with the near‑term trend likely to stay data‑ and headline‑driven," explained Gaurav Garg, Research Analyst at Lemonn Markets Desk.

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