Gold Price Hit All-Time High In India Today: 24K/100 Grams Of Gold Up Rs 13,100; 1 Kg Silver Rally Rs 1,000

Gold prices have been strengthened by the Federal Reserve's remark that it will maintain stable rates while meticulously tracking inflation statistics. As a consequence, gold rates on the domestic market have skyrocketed today, Friday, January 31. The gold and jewellery industry in India is expecting big policy changes as the Union Budget 2025-2026 draws near. As the Union Budget 2025-2026 approaches, attention will be drawn to India's gold and jewellery sector.

Gold Rates In India Today

In India, the current price of gold is Rs 8,433 per gramme for 24-carat gold and Rs 7,730 per gramme for 22-carat gold. While 22k of 100 grammes of gold will cost Rs 7,73,000 in India today compared to Rs 7,61,000 yesterday, representing a price rise of Rs 12,000 in a single day, 22k of 10 grammes of gold prices in India reached Rs 77,300 on Friday compared to Rs 76,100 on Thursday, representing a price jump of Rs 1,200.

The price of 24k of 10 grams of gold in India jumped by Rs 1,310 today, from Rs 83,020 on Thursday to Rs 84,330 on Friday. In contrast, 24k of 100 grams of gold would cost Rs 8,43,300 in India today, up Rs 13,100 in a single day from Rs 8,30,200 yesterday.

While 18k of 100 grammes of gold would cost Rs 6,32,500 in India today compared to Rs 6,22,700 yesterday, reflecting a price spike of Rs 9,800, the price of 18k of 10 grammes of gold remained Rs 63,250 on Friday compared to Rs 62,270 on Thursday, marking a price surge of Rs 980.

Spot Gold Today

Gold prices reached a new high on Friday, rising more than 6% this month as spot gold held steady at $2,794.61 an ounce at 0408 GMT. According to Reuters, prices reached an all-time high of $2,799.71 earlier in the session, while U.S. gold futures climbed 0.2% to $2,826.90. Palladium dropped 0.2% to $987.06, platinum gained 0.2% to $968.84, while spot silver diminished 0.8% to $31.43 an ounce.

Silver Rates In India Today

Today, silver costs Rs 99.50 per gramme and Rs 99,500 per kilogramme in India. Ten grammes of silver will cost Rs 995 in India compared to Rs 985 yesterday, 100 grammes of silver will cost Rs 9,950 on Friday compared to Rs 9,850 on Thursday, marking a 100 rupee price rise, and 1 kg of silver will cost Rs 99,500 today compared to Rs 98,500 yesterday, marking a 1,000 rupee rise in price.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold surpassed the 81500 mark, reaching fresh all-time highs and formed a bullish candle on the daily chart. The recent downward attempt was reversed as active buyers stepped in at key levels, aligning with global cues and indicating a positive bias. A sustained move above 81750 could push prices towards 82000/82300 levels, while immediate support is seen at 81500/81000 levels. A breakdown below 81000 could drag prices toward 80700/80200 levels. Traders are advised to maintain tight stop losses, as MCX Gold is trading in a critical zone with the potential for heightened volatility," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Fundamental Outlook Today

"Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices rose to a record high as investors flocked to safety after US President Donald Trump reiterated threats to impose tariffs on Mexico and Canada," stated Nirmal Bang Securities Pvt. Ltd.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.