Gold Prices In India Outlook: Will MCX Gold Price Hit Rs 86,500 From Feb 11-14? Check Rates Of 22K, 24K, 18K

Gold prices in India made a strong start this week with 24K gold prices surging by Rs 3,900 in 100 grams. While MCX gold continued to extend its record high performance with latest new lifetime high at Rs 85,950 per 10 grams. The latest reason behind gold's surge is Donald Trump's new round of tariffs on metals that heightened trade war concerns. MCX gold is expected to cross Rs 86,500 mark, while silver is likely to hover around Rs 96,000 per 1 kg levels.

Gold Prices In India:

Currently, the 24K gold price is around Rs 87,070 per 10 grams, a new historic high. Similarly, 22K and 18k gold price is about Rs 79,810 and Rs 65,300 per 10 grams. The price of gold in India currently is at Rs 7,981 per gram for 22 karat gold and at Rs 8,707 per gram for 24 karat gold (also called 999 gold). Cheapest 18k gold price at Rs 6,530 per 1 gram.

Silver Prices In India:

The price of silver in India is currently at Rs 99.40 per gram and at Rs 99,400 per kilogram. Meanwhile, in cities like Chennai, Hyderabad and Kerala, the silver price is most expensive at Rs 1,06,900 per 1kg.

MCX Gold, Silver Prices:

MCX gold with April 2025 expiry, closed at rS 85,868 per 10 grams marginally up by Rs 52 or 0.06%, after hitting new all-time high of Rs 85,950 per 10 grams on February 10.

Further, MCX silver price with March 2025 expiry, stood at Rs 95,373 per 1kg after touching Rs 96,022 per 1kg mark on Monday.

How Will Gold Prices Perform This Week?

According to SMC Global Securities, gold prices recorded their sixth consecutive weekly gain, driven by safe-haven demand amid escalating trade war concerns and global economic uncertainty. Investors focused on the upcoming U.S. payrolls report, which could provide further clues about the labor market and potential Fed policy actions. Earlier in the week, the WTO confirmed that China had initiated a dispute over U.S. tariffs.

Meanwhile, Chicago Federal Reserve President Austan Goolsbee stated that while strong economic growth and declining inflation support continued Fed rate cuts, uncertainties around tariffs and policy changes warrant a cautious approach. Trade tensions intensified after President Trump postponed tariffs on Mexico and Canada but imposed a 10% levy on Chinese imports, prompting Beijing to announce retaliatory tariffs on U.S. energy goods, effective this week, highlighted by SMC.

In addition to geopolitical risks, SMC's note said, Trump suggested that the U.S. take control of the Gaza Strip for reconstruction, further unsettling global markets. Loose monetary policies by major central banks continued to support gold prices. The ECB, BoE, and BoC all cut rates, with the BoC ending its quantitative tightening program.
The RBI is also expected to implement rate cuts, adding to global stimulus measures.

It said, "Markets are currently pricing in two 25bps rate cuts by the Fed this year, with investors keenly watching the payrolls report for further insights. On COMEX, gold is testing resistance at $2,900-a breakout could push prices to $2,980, while failure to sustain may lead to a decline toward $2,820. Silver is expected to trade within the $31.50-$33.40 range. In India, gold may fluctuate between Rs 82,800-Rs 85,900, while silver is likely to trade in the Rs 92,000-Rs 98,000 range in the upcoming week."

Moreover, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, gold witnessed strong gains, surging above Rs 85,800 in MCX and hitting $2,900 in spot markets as Trump's new round of tariffs on metal products intensified trade war concerns. With no specific clarity on which countries are included or excluded, uncertainty in global trade has driven significant bullion buying. Rupee lowest level of 87.94 also provided major support to gold in domestic market. Given the growing risk-off sentiment, gold is expected to maintain a positive trend, with a projected range of Rs 84,000-Rs 86,500 in the coming days.