The gold market in India is witnessing a rise for the second straight session, helping maintain higher price levels as the weekend approaches. This stability follows a week marked by significant volatility, during which gold prices recorded a cumulative decline of 3.5 percent despite the recent two-day rebound. Globally, spot gold prices have edged upward and are currently trading above 4,000 dollars per ounce. The performance of these international markets continues to be a primary driver for domestic bullion sentiment and the gold rate in India today.
Gold Rates in India, June 27
On Thursday, June 27, the price of 24-carat gold in India increased by 1,200 rupees per 10 grams, reaching 1,43,950 rupees. Meanwhile, 22-carat gold saw a rise of 1,100 rupees, bringing its price to 1,31,950 rupees per 10 grams. The more affordable 18-carat gold variant also spiked by 900 rupees to retail at 1,07,960 rupees per 10 grams. For larger investments, 100 grams of 24-carat gold now costs 14,39,500 rupees, while 100 grams of 22-carat gold is priced at 13,19,500 rupees.
Silver Market Update
In contrast to the movement in gold, silver prices in India remained unchanged throughout the day. Currently, 1 kilogram of silver is priced at 2,40,000 rupees, while the retail cost for 100 grams of silver stands at 24,000 rupees.
MCX Gold and Silver Market Analysis
On the MCX platform, gold has extended its previous decline, forming a significant bearish Marubozu candlestick that indicates substantial selling pressure at higher price points. The weakness observed below the lows of the previous two sessions has accelerated the downward trend. Technical patterns, characterized by a series of lower-highs and lower-lows, suggest that the short-term trend remains negative. Prices are currently hovering near the critical 200-DEMA support zone; a decisive breakdown below this level could trigger further selling. The overall outlook for the day remains negative, with immediate resistance placed at 143,800 and support zones identified between 139,000 and 136,300. Any pullbacks toward resistance are expected to attract new selling interest. A shift in the bearish structure is only likely if the market sustains a close above the 145,480 level.
