Gold Price Outlook Today: Gold Rate Steady Above Rs 1.61 Lakh; Why MCX Gold’s Bullish Trend Is Hard To Ignore?

Gold prices in India remained stable on Tuesday following an abrupt rise on Monday in honor of Republic Day. Despite weak price movement during the previous session, MCX Gold is still a solid investment on the technical charts. The fact that prices are still above key support zones suggests that the overall rise is still going strong.

In the face of growing trade tensions and geopolitical unpredictability, spot gold continues to trade with a positive undertone due to demand for safe havens. Upside risks are still there, with higher levels firmly in focus, due to fresh tariff threats from US President Donald Trump, renewed worries about a US government shutdown, worries about the independence of the Federal Reserve, and persistent central bank gold purchasing.

Gold Rates In India Today

Today, the price of gold in India remains stable at Rs 16,195 per gramme for 24 carat gold, Rs 14,845 per gramme for 22 carat gold, and Rs 12,146 per gramme for 18 carat gold. The current price of gold in India is Rs 1,61,950 for 24k of 10 grams and Rs 16,19,500 for 24k of 100 gms.

In India, the price of gold is now stable at Rs 1,48,450 for 22k of 10 gms and Rs 14,84,500 for 22k of 100 grams. In contrast, the prices for 18k of 10 grams of gold in India remain unchanged at Rs 1,21,460 and Rs 12,14,600 for 18k of 100 gms.

MCX Gold Outlook Today

"On the technical front, MCX Gold saw muted price action in Friday's session, though prices have witnessed a strong rally in the international market. A rub-off effect is likely in today's opening. MCX Gold continues to remain bullish on the daily, weekly, and monthly timeframes, with no signs of weakness at present. Strong support is placed at 149,000, while resistance is seen at 174,500. Traders can continue to hold long positions for a target of 174,500; however, any sustained weakness below 148,800 would warrant a review of the current view and should be treated as a stop-loss," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Spot Gold Outlook Today

"Spot Gold is likely to trade with positive bias and rise towards $5100 level on weak dollar and softening of US treasury yields. Further, prices may move up on expectation of 2 more rate cut this year. Additionally, demand for safe haven may increase on escalating trade and geopolitical tensions. US President Donald Trump threaten to increase tariffs on South Korean imports related to autos, lumber and pharmaceuticals to 25%," commented the research analysts of ICICI Securities.

"Additionally, investors fear over another government shutdown after Democratic leaders threatened to block approval of a $1.2 trillion funding package if it includes additional allocations for Homeland Security. Moreover, concern over Fed independence and strong central bank buying would be supportive for the prices," they further added.

Gold & Silver Rates Fundamental 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 gold prices rose, holding above $5,000 an ounce for a second day, as a weak dollar helped to extend a blistering rally fueled by geopolitical risks and investor flight from sovereign bonds and currencies," stated the research analysts of Nirmal Bang Securities.

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