Gold Price In India Today, 30th Dec: 24K/100 Grams of Gold Rate Rally Rs 1,600; 1 Kg Silver Falls Rs 100

On Monday, December 30, gold prices in the domestic market saw a significant surge amid rising U.S. yields and a dollar index heading for a fourth consecutive week of gains. This week's focus will be on US housing data and manufacturing PMI from key economies. The domestic gold market is anticipated to maintain a robust base for gold prices.

Gold Rates In India Today

Gold now costs Rs 7,150 per gramme in India for 22 carat gold and Rs 7,800 per gramme for 24-carat gold. The price of 22k of 10 grams of gold in India increased by Rs 71,500 on Monday from Rs 71,350 yesterday, signifying a 150 rupee price hike. Meanwhile, the price of 22k of 100 grams of gold surged to Rs 7,15,000 today from Rs 7,13,500 yesterday, signifying a 1,500 rupee price jump.

While 24k of 100 grammes of gold would cost Rs 7,80,000 on December 30, up from Rs 7,78,400 on December 29, representing a price increase of Rs 1,600, the price of 24k of 10 grammes of gold in India reached Rs 78,000 on Monday, up from Rs 77,840 yesterday, signifying a price rise of Rs 160.

The price of 18k of 10 grams of gold will cost Rs 58,500 compared to Rs 58,380 yesterday representing a price surge of Rs 120 whereas 18k of 100 grams of gold on Monday will cost Rs 5,85,000 compared to Rs 5,83,800 yesterday representing a price surge of Rs 1,200.

Spot Gold Today

Amid geopolitical tensions and the U.S. Federal Reserve's interest rate forecast, gold prices climbed minimal on Monday. As of 0318 GMT, spot gold was up 0.2% at $2,626.30 an ounce, while U.S. gold futures were up 0.3% at $2,638.70, according to Reuters. Palladium gained 0.1% to $912.84, platinum jumped by 0.2% to $921.45, while spot silver climbed by 0.1% to $29.40 an ounce.

Silver Price In India Today

Today, Monday, December 30, silver rates in India have fallen due to a stronger US dollar and higher US Treasury yields. In India, silver now costs Rs 92,500 per kilogramme and Rs 92.50 per gramme. Ten grammes of silver will cost Rs 925 today instead of Rs 926 yesterday, 100 grammes of silver will cost Rs 9,250 on Monday instead of Rs 9,260 yesterday, and one kilogramme of silver will cost Rs 92,500 today in India instead of Rs 92,600 yesterday, which is a 100 rupee price drop.

MCX Gold Outlook Today

"On the domestic front, MCX Gold faced selling pressure around the key level of 77000 and closed with a bearish candle formation on the daily chart. The commodity precisely retested the upward-sloping trendline breakdown levels with substantial volume growth, indicating a weak bias. On the downside, support for MCX Gold is seen at 76350/76000 levels, with a breakdown below 76000 likely dragging the commodity to 75800/75650 levels. In contrast, resistance for the commodity is observed at 76700/77000 levels. Traders are advised to maintain strict stop-losses, as volatility may remain high due to ongoing geopolitical tensions," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold Price Forecast Today

"Gold is expected to finish the year up 27%, its greatest yearly performance since 2010. This spike has been supported by central bank purchases, rising geopolitical risks, and major central banks' monetary easing. Rising global tensions have supported gold's resilience this week. Investors are paying close attention to conflicts in Eastern Europe and the Middle East. President-elect Donald Trump's comments about annexing Canada, the Panama Canal, and Greenland have increased geopolitical uncertainty and tensions," said Dr. Renisha Chainani, Head Research - Augmont - Gold For All.

"Gold has been taking support at the uptrend line for the past two months. If the same trend is followed, gold will rebound from Rs 76000 to Rs 78500. If prices sustain below Rs 76000, the next target is Rs 75000. Similarly, silver has been consolidating in the descending triangle with support at Rs 86500 and resistance at Rs 94000. Buy on dips in the range of Rs 87000-88000 and sell on rallies around Rs 94000 level should be the strategy used," Dr. Renisha Chainani commented.

Gold Rates In Top Indian Cities Today

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.