Gold Price In India Today, 7th Jan: See How 18K, 22K And 24K Rates Fare Today

Gold prices in the domestic market on Tuesday, 7th January remained stable for the third day in a row despite the strong US dollar and better-than-expected economic statistics. Though additional happenings involve geopolitical events that affect the direction of gold and silver markets, this week's attention will be on the US Nonfarm Payrolls job data and a slew of US data this week.

Gold Rates In India Today

Currently, 24 carat gold costs Rs 7,871 per gramme in India, whereas 22 carat gold costs Rs 7,215 per gramme. While the price of 22k of 100 grams of gold is now Rs 7,21,500 in India, the price of 22k of 10 grams of gold stayed at Rs 72,150. The price of 24k of 10 grammes of gold was steady at Rs 78,710 on Tuesday, while 24k of 100 grammes of gold will cost Rs 7,87,100 in India today.

In India, the price of 18k of 100 grammes of gold continued to steady at Rs 5,90,300 on Tuesday, while 18k of 10 grammes would cost Rs 59,030.

Spot Gold Today

According to Reuters, U.S. gold futures were hardly moved at $2,648.60 on Tuesday, while spot gold rose 0.1% at $2,638.09 an ounce as of 02:42 GMT. Platinum dropped 0.2% to $931.63, palladium down 0.1% to $919.44, while spot silver climbed 0.1% to $29.98 an ounce.

Silver Rates In India Today

In India, silver now costs Rs 92,500 per kilogramme and Rs 92.50 per gramme. Ten grammes of silver will cost Rs 925 in India on Tuesday, compared to Rs 915 on Monday; 100 grammes of silver will cost Rs 9,250 today, compared to Rs 9,150 yesterday, indicating a 100 rupee price rise; and one kilogramme of silver will cost Rs 92,500 on Tuesday, compared to Rs 91,500 on Monday, referring to a 1000 rupee rise in price.

MCX Gold Outlook Today

"On the domestic front, MCX Gold closed above the key level of 77000 and formed a doji candle with a long lower wick on the daily chart.. The commodity witnessed active lower level buying and retested the upward sloping trendline on the daily chart, suggesting a positive bias. On the upside, MCX Gold may witness resistance at 77500/77850 levels with a break above 77850 likely opening the door for further gains towards 78200/78700 levels. In contrast, support for the commodity is observed at 76880/76500 levels. Traders are advised to use strict stop-losses, as volatility may remain elevated due to ongoing geopolitical tensions," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price 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 higher for the day, as traders weighed risks to global trade under the incoming US administration, with President-elect Donald Trump denying a report he might moderate plans for across-the-board tariffs," commented the research analysts of 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.