Massive Surge In India Gold Rates On Jan 13: 24K/10g Gold Crosses Rs. 80,000, Silver Jumps Rs. 1000

Gold prices in India Today is shining bright with a massive jump continuing the upward momentum of the previous week. While the global gold market faces challenges in maintaining gains due to a strengthening U.S. dollar, Indian gold rates are climbing higher due to strong domestic demand and market sentiment.

Gold prices in India today

On 13th January 2025, 24-carat gold rates in India stood at Rs. 73,400 per 10 grams with a rise of Rs. 400, whereas the 24-carat gold rates rose by Rs. 430 to cost Rs. 80,070. In a similar line, the 18-carat gold rates in India are now expensive and cost Rs. 60,060 after spiking by Rs. 330.

Just like that, 100 grams of 24-carat gold retails at Rs. 8,00,700 with a rise of 4,300, and 22-carat gold per 100g retails at Rs. 7,34,000 with a jump of Rs. 4,000, and 18-carat gold per 100 grams crossed the 6,00,000 mark with a spike of Rs. 3,300 to retail at Rs. 6,00,600.

Silver Prices in India Today

Just like gold, silver rates in India also experienced a jump of Rs. 1000 per kg, and currently retails at Rs. 94,500. Similarly, 100 grams of silver is stood at Rs. 9,430 after rising Rs. 100.

MCX Gold and Silver Futures Update

Gold futures on the Multi Commodity Exchange (MCX), set to be delivered on February 5, 2025, jumped 195 points, or 0.25%, and are currently priced at Rs. 78,618. Meanwhile, silver futures, with a delivery date of March 5, 2025, are trading lower by 0.18%, shedding 166 points to Rs. 92,340.

Spot Gold & Spot Silver Prices in the International Market Today

As per the latest Reuters report, gold prices remained steady on Monday, following a stronger-than-anticipated U.S. jobs report that supported the Federal Reserve's cautious outlook on interest rate cuts. Additionally, ongoing uncertainty regarding the policies of the incoming Trump administration continued to drive demand for safe-haven assets. As of 02:12 GMT, spot gold traded at $2,689.09 per ounce, holding near the one-month high reached on Friday. Meanwhile, U.S. gold futures rose by 0.2%, reaching $2,719.50. On the other hand, spot silver saw a slight decline of 0.1%, trading at $30.36 per ounce.

Market Insight on Gold Price

According to a commodity trend report by Way to Wealth, "International gold prices surged above $2,680 per ounce on Friday, hitting their highest level since mid-December, driven by positive global cues. On the domestic front, MCX Gold continued its upward momentum for the fourth consecutive session and formed a doji candlestick pattern on the daily chart. The commodity is currently hovering around its major supply levels, and a break below the doji candle low (78066) could invite short-term profit booking and push the commodity towards 77700/77250 levels. However, if MCX Gold sustains above the supply range of 78200-79000, it could advance towards 79280/79800 levels in the near term, potentially paving the way for new all-time highs. Traders are advised to use strict stop-losses, as volatility may remain elevated due to multiple macroeconomic data releases later this week and ongoing geopolitical tensions."