Gold Price In India Today, 2nd Jan: 24K/100 Grams of Gold Rate Rally Rs 3,300; Silver Price Flat

Gold prices saw an enormous rise on the domestic market on Thursday, January 2, amidst higher volatility brought on by current geopolitical concerns. On the domestic front, MCX Gold remained upbeat regardless of the U.S. Federal Reserve's decision to forecast fewer interest rate cuts in 2025 has put some downward pressure on gold. In 2024, gold became one of the best-performing investments, rising almost 27% in its highest yearly gain since 2010.

Gold Rates In India Today

In India, the current price of gold is Rs 7,833 per gramme for 24 carat gold and Rs 7,180 per gramme for 22 carat gold. While 22k of 100 grammes of gold prices in India today hit Rs 7,18,000 compared to Rs 7,15,000 yesterday, representing a price spike of Rs 3,000, 22k of 10 grammes of gold will cost Rs 71,800 on Thursday compared to Rs 71,500 on Wednesday, showing a price surge of Rs 300.

While 24k of 100 grams of gold reached Rs 7,83,300 on Thursday compared to Rs 7,80,000 on Wednesday, marking a price spike of Rs 3,300, 24k of 10 grams of gold would cost Rs 78,330 in India today compared to Rs 78,000 yesterday.

In India, the price of 10 grams of 18k gold surged to Rs 58,750 today from Rs 58,500 yesterday, a 250 rupee gain. Meanwhile, the price of 100 grams of 18k gold jumped to Rs 5,87,500 on Thursday from Rs 5,85,000 on Wednesday, a 2,500 rupee rise.

Spot Gold Today

According to Reuters, U.S. gold futures climbed by 0.2% to $2,646.30 on Thursday, while spot gold jumped by 0.39% to $2,634.15 an ounce as of 0255 GMT. Palladium surged 0.9% to $912.26, platinum up 0.7% to $917.14, and spot silver gained 1.5% to $29.29 an ounce.

Silver Rates In India Today

On Thursday, January 2, silver rates in the domestic market remained stable following the end of the New Year holidays, which caused some market turbulence. Today, silver costs Rs 90.50 per gramme and Rs 90,500 per kilogramme in India. While the price of one kilogramme of silver remained stable at Rs 90,500 on Thursday compared to Wednesday, the price of ten grams of silver would cost Rs 905, while the price of one hundred grams of silver was unchanged at Rs 9,050.

MCX Gold Outlook Today

"On the domestic front, MCX Gold closed maintained its positive sentiment for the second consecutive session and closed with a bullish candle formation on the daily chart. The commodity is consolidating near an upward-sloping trendline, with the 50-day EMA at the same level acting as strong support. A breakdown below the 76250-76000 range could drag prices toward 75650/75300 levels. On the upside, resistance is observed at 77000/77400, with a breakout above 77200 potentially driving prices higher toward 77700/78000 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 higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to higher for the day. We recommend buy on dips in precious metals in intra-day trading sessions, as gold opened the New Year steady after notching its biggest annual gain since 2010, with traders assessing prospects for a slower pace of monetary easing by the Federal Reserve in 2025," said brokerage 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.