Gold Price In India Today, 1st Jan: 24K/100 Grams of Gold Rate Rally Rs 4,400; Silver Price Flat

Gold prices in the domestic market saw an enormous rise on the first day of 2025, mostly due to a rising dollar index that rose again above the 108 level. Gold prices are predicted to remain range-bound ahead of the Fed's December FOMC minutes, the ADP employment report, and the U.S. employment report in 2025, while significant changes in U.S. policy are anticipated.

Gold Rates In India Today

Currently, 22 carat gold costs Rs 7,150 per gramme in India, whereas 24 carat gold costs Rs 7,800 per gramme. While 22k of 100 grams of gold would cost Rs 7,15,000 today, up Rs 4,000 from yesterday's price of Rs 7,11,000, 22k of 10 grams of gold prices hit Rs 71,500 on Wednesday compared to Rs 71,100 on Tuesday, marking a 400 rupee price increase.

24k of 10 grams of gold will cost Rs 78,000 today, up Rs 440 from yesterday's price of Rs 77,560; similarly, 24k of 100 grams of gold reached Rs 7,80,000 on Wednesday, up Rs 4,400 from Tuesday's price of Rs 7,75,600.

18k of 10 grams of gold will cost Rs 58,500 in India today compared to Rs 58,180 yesterday representing a price jump of Rs 320 whereas 18k of 100 grams of gold rates reached Rs 5,85,000 in India on Wednesday compared to Rs 5,81,800 on Tuesday representing a price jump of Rs 3,200.

Silver Rates Today In India

Today, silver costs Rs 90.50 per gramme and Rs 90,500 per kilogramme in India. Which is the same as the pricing from yesterday. In comparison to yesterday, the price of 10 grams of silver will be Rs 905, 100 grams would be Rs 9,050, and 1 kilogramme will cost Rs 90,500.

MCX Gold Outlook Today

"On the domestic front, MCX Gold closed above the key level of 76500 with the formation of a bullish candle on the daily chart. The commodity is currently trading near an upward sloping trendline support, with a potential breakdown below the 76000-level likely to drag prices toward 75650/75300 levels. On the upside, resistance is positioned at 77000/77200 levels, with a breakout above 77200 potentially driving prices higher toward 77450/77700 levels. Traders are advised to maintain strict stop-losses, as volatility may remain high due to ongoing geopolitical tensions," said the research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Prediction Today

"Gold and silver prices are not trading today on the international bourses in observance of New Year's Day. Here on MCX we expect gold and silver prices to trade range-bound to slightly higher for the day," said the research analysts of Nirmal Bang Securities Pvt. Ltd.

Bullion Outlook Today

"Gold is expected to remain silent today as most global indices are closed on the eve of New Year holiday. In MCX Gold prices are likely to stay in a tight range, but weakness in the rupee could provide some support. Meanwhile, most investors will wait for more global clues to get further clarity on price trend. MCX Gold February is expected to move in the band of 76,200 and 77,200.Only below 76,200, it would turn bearish. On the other hand a move above 77,200 it would open the doors towards 77,500," said the broking firm ICICI Direct Research.

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.