Gold Price In India Today: 24/100 Grams of Gold Rate Jumps Rs 6,500; 1 Kg Silver Rates Rally Rs 1000

Driven by a 0.14 rupee loss and following the release of U.S. CPI data for December, which showed a 2.9% (MoM) rise, gold prices in India saw a significant spike today, Friday, January 17 in the domestic market. Gold saw a price boost amid a weak dollar, a drop in US Treasury yields, and softer-than-expected US core inflation figures.

Gold Price In India Today

In India right now, 22 carat gold costs Rs 7,450 per gramme, whereas 24 carat gold costs Rs 8,127 per gramme. In India, the price of 22k of 10 grams of gold jumped by Rs 600 to Rs 74,500 on Friday from Rs 73,900 on Thursday, while the price of 22k of 100 grams of gold jumped by Rs 6000 to Rs 7,45,000 today from Rs 7,39,000 yesterday.

In India, 24k of 10 grams of gold will cost Rs 81,270 today, up Rs 650 from yesterday's price of Rs 80,620. Meanwhile, the price of 24k of 100 grams of gold went up to Rs 8,12,700 on Friday, up Rs 6,500 from Rs 8,06,200 on Thursday.

While 18k of 100 grammes of gold prices in India on Friday remained at Rs 6,09,600 compared to Rs 6,04,700 on Thursday, marking a price spike of Rs 4,900, 18k of 10 grammes of gold would cost Rs 60,960 today compared to Rs 60,470 yesterday, showing a price jump of Rs 490.

Spot Gold Today

As of 0332 GMT, spot gold remained unchanged at $2,715.09 per ounce, and U.S. gold futures fell 0.1% to $2,746.90, according to Reuters, indicating that gold stayed steady close to a five-week high on Friday. Palladium dropped 0.1% to $939.53, platinum climbed 0.5% to $936.90, while spot silver rose 0.1% to $30.82 an ounce.

Silver Rates In India Today

In India, silver now costs 96.50 rupees per gramme and 96,500 rupees per kilogramme. Ten grammes of silver are going to cost Rs 965 in India, up from Rs 955 yesterday; 100 grammes of silver will cost Rs 9,650 on Friday, up from Rs 9,550 on Thursday; and one kilogramme of silver will cost Rs 96,500 today, up from Rs 95,500 yesterday, marking a 1000 rupee hike in the price.

MCX Gold Outlook Today

"On the domestic front, MCX Gold surpassed the 79200- mark supported by fresh long buildups, and formed a bullish candle on the daily chart. The commodity experienced a V-shaped recovery on the daily chart with active buyer's participation at every dip, suggesting a positive bias. Sustaining above 79300 level could propel MCX Gold towards 79500/79800, paving the way for new all-time highs at 80200 level. On the downside, support for the commodity is positioned at 78800/78380 levels. Traders are advised to use strict stoplosses, as volatility may remain elevated due to ongoing geopolitical tensions," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Prediction Today

"Gold and silver prices are trading slightly lower 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 were on course for a third weekly gain after softer-than-expected US inflation saw investors reboot bets on the Federal Reserve easing further this year," commented the brokerage firm 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.