Gold Prices In India Outlook On January-13; What Will Drive 24K, 22K, 18K Prices On Monday?

Gold prices in India are likely to be influenced by global factors with a slight uppish movement. The sentiment would revolve with caution ahead of the US administration with Donald Trump's takeover of White House on January 20th, which is expected to be significant for gold prices outlook in the rest of 2025. Last week, gold prices witnessed weekly gains and so far surged by more than 2% in the first 12 days of January month.

Gold Prices In India:

In the early hours of January 13, gold prices in India stood at Rs 79,630 per 10 grams in 24K, while the prices were at Rs 72,990 in 22K and Rs 59,720 in 18K. The price of the cheapest gold in India is Rs 7,299 per gram for 22-karat gold, Rs 7,963 for 24-karat gold (also called 999 gold), and Rs 5,972 per 1 gram for 18K.

Silver Prices In India:

The price of silver in India is currently at Rs 93.40 per gram and at Rs 93,400 per kilogram.

MCX Gold, Silver Prices:

At MCX, the gold price with February 2025 expiry, ended at Rs 78,400 on January 10 after surging to Rs 78,794 per 10 grams during the session. Also, MCX silver price with March 2025 expiry, reached as high as Rs 93,643 per 1kg before pulling back and closing at Rs 92,466 per 1 kg on Friday.

Spot Gold Prices:

Currently, spot gold price traded near the $2,690 an ounce level, with mild gains. As per Trading Economics data, gold increased 64.57 USD/t oz. or 2.46% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all-time high of 2790.07 in October of 2024.

What Will Drive Gold Prices In India?

Sandip Raichura, CEO - of Retail Broking and Distribution, Director - PL Broking and Distribution said, "Gold surged to a two-day high of $2,664 following news that China's central bank increased its reserves for the second consecutive month, adding 300K ounces to reach 73.3 million and some noises from the new administration around protectionism. One of the most critical triggers will be the jobs report in the US on Jan 10, 2025. In recent days, international prices have neared $2,670 an ounce after declining in earlier weeks."

Raichura added this was on the back of a hawkish tone in the December Fed minutes hinting that it "would be appropriate to slow pace of easing." The US Dollar Index (DXY),has been holding strong around 109 while the US 10-year benchmark note coupons trade around 4.7%.

Moreover, he said, comments from Trump on certain policy measures around tariffs however are not allowing uncertainty to fade and that's supportive of gold despite moves in currencies and yields. Inflation is still a major concern in the United States and most of the world and that's likely to continue to support Gold bulls.

Lastly, he said, "Gold prices will continue to be influenced by global macros as domestic season is past and near term we expect a slight uppish bias till the first declarations from the US administration start beyond 20th Jan when we expect real triggers for gold for the rest of the year."

Furthermore, Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services said, the bullions have remained supported by safe-haven buying ahead of Jan. 20 - the day Donald Trump starts his Presidency and focus will remain on his policy layout, while additional support is seen from fresh buying among ETF investors.