Gold & Silver Price In India Today, 30th Jan: 24K/100 Grams of Gold Rally Rs 1,700; 1 Kg Silver Up Rs 2,000

Gold prices in the domestic market saw an enormous rise spanning 18k, 22k, and 24k as market players saw the U.S. Federal Reserve's policy decision, which came out as unchanged in its first important judgement under President Donald Trump's second term.

Gold Price In India Today

While 22k of 100 grammes of gold would cost Rs 7,61,000 in India today compared to Rs 7,59,500 yesterday, reflecting a price rise of Rs 1,500, the price of 22k of 10 grammes of gold on Thursday reached Rs 76,100 compared to Rs 75,950 on Wednesday, marking a price gain of Rs 150. While 24k of 100 grammes of gold will cost Rs 8,30,200 in India today compared to Rs 8,28,500 yesterday, marking a price increase of Rs 1,700, 24k of 10 grammes of gold prices hit Rs 83,020 on Thursday compared to Rs 82,850 on Wednesday, showing a price rise of Rs 170.

While the price of 18k of 100 grammes of gold climbed by Rs 1,300 on Thursday from Rs 6,21,400 on Wednesday, the price of 18k of 10 grammes of gold would cost Rs 62,270 in India today compared to Rs 62,140 yesterday, signifying a price jump of Rs 130.

Spot Gold Today

As of 0402 GMT, spot gold was up 0.1% at $2,761.44 an ounce, while U.S. gold futures were up 0.1% to $2,773.30, according to Reuters, indicating that gold moved in a flat zone on Thursday. Palladium climbed by 0.9% to $970.58, platinum by 1.2% to 957.67, and spot silver by 0.2% to $30.88 an ounce.

Silver Rates In India Today

Today, silver costs Rs 98.50 per gramme and Rs 98,500 per kilogramme in India. Ten grammes of silver will now cost Rs 985 in India, up from Rs 965 yesterday; 100 grammes of silver will cost Rs 9,850 on Thursday, up from Rs 9,650 on Wednesday; and one kilogramme of silver will cost Rs 98,500 today, up from Rs 96,500 yesterday, marking a 2,000 rupee rise in price in a single day.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold witnessed profit booking at higher levels and formed a gravestone doji candlestick pattern on the daily chart. The domestic commodity is now likely to test the 79000- 78500 levels to complete the price cycle, with an upward sloping trendline in this range acting as strong support. A breakdown below this zone could push prices lower toward the 77700/77200 levels in the near term. On the upside, resistance is observed at 80500/80750 levels. Traders are advised to maintain tight stop losses, as the commodity is trading in a critical zone that could witness heightened volatility," commented 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 slightly higher for the day, as gold prices held a slight decline after Federal Reserve Chair Jerome Powell said officials won't rush to lower US interest rates, adding that the central bank is pausing easing to see further progress on inflation," said 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.