Gold Silver Rate Today: US-Iran talks remained inconclusive, gold rate increased on MCX, know details?

Gold Silver Rate Today: On Friday, February 27, gold prices are trading higher on MCX. Amid continued geopolitical uncertainty and a weak dollar, strong spot market demand is supporting gold. Around 12 noon, MCX Gold April futures were trading ₹672, or 0.42% higher at ₹160,374 per 10 grams. Meanwhile, Silver March futures were trading ₹6,696, or 2.58% higher at ₹266,365 per kg.

In the previous session, MCX Gold April futures had fallen nearly 1% to close at ₹159,709 per 10 grams. Silver March futures fell more than 3% to close at ₹259,669 per kg. US-Iran talks ended without any deal on Thursday.

Meanwhile, the US dollar index, after rising as high as 97.82, fell to 97.69 on some selling by importers, lower than its previous close of 97.79. It seems that this has provided some support to precious metals.

A look at other commodities

On MCX, March copper futures were trading ₹6.60, or 0.55% higher at ₹1,214.15, and March crude oil futures were trading ₹83, or 1.37% lower at ₹5,970. Meanwhile, March natural gas futures were up ₹1.00, or 0.39%, at ₹258.10.

Commodity Earnings Calls

Today for our commodity earnings call we have with us Manoj Kumar Jain of Prithvi Finmart Commodity Research. He sees profitable opportunities in MCX Silver Mini (APR) and MCX Lead (MAR) today. He recommends buying MCX Silver Mini (APR) around ₹268,000 with a stop loss of ₹263,000 for a target of ₹278,000. He also recommends buying MCX Lead (MAR) around ₹188 with a stop loss of ₹185 for a target of ₹193.

Manoj Kumar Jain’s advice on gold and silver

Manoj Kumar Jain expects that there will be fluctuations in the prices of gold and silver today. Jain recommends buying gold on dips around ₹1,59,100 and ₹1,58,000, with a stop loss below ₹1,56,500. Target should be ₹ 1,60,600 and ₹ 1,61,800. Buy silver around Rs 2,58,000 and Rs 2,53,000, keep stop loss below Rs 2,48,800, target Rs 2,62,000 and Rs 2,68,000.