Gold Rate In India Jumps 15,700, Close To Rs 1 Lakh; Will It Surge More This Month? Check Latest Rates

Gold Rate in India continued its volatile movement throughout the week, entering into July with its bullish momentum. The price of the precious metal surged by more than Rs 20,000 per 100 grams since the beginning of the month and declined by Rs 6,000 in one of the trading sessions. With this, the gold rate in India witnessed an effective surge of Rs 15,700 per 100 grams in the month.

As the precious metal remains close to the Rs 1 lakh mark, jewellery buyers are anticipating the price movement of the yellow metal in the coming weeks of July. While retail jewellery buyers are hoping for a decline in gold rates in India, many experts believe that the precious metal may become more expensive in the coming weeks.

Gold Rate in India Today

The price of gold in India stood close to the Rs 1 lakh mark. 24 karat gold rate in India stood at Rs 98,830 per 10 gram, whereas the price of 22 karat gold in India stood at Rs 90,600 per 20 gram. Likewise, the 18 karat gold rate in India today stood at Rs 74,130 per 10 grams.

The price of the precious metal has surged by more than 25% since the beginning of the year 2024-25 amid heightened geopolitical uncertainty and stock market volatility. Massive shift in US policies since Donald Trump took oath as the US President, has further raised tensions among global investors.

As of now, the investors are closely watching the repercussions of July Deadline of Trump tariffs and how the world will react to it.

Gold Rate in India: Will The Precious Metal Rally Continue This Month?

Gold prices in India are expected to rise further during the coming days and may cross the crucial Rs 1 lakh mark again, according to ICICI Securities report. "Local gold prices are expected to continue trading with an upside bias moving from a near-term range of Rs 96,500 to Rs 98,500 per ten grams to Rs 98,500 per ten grams to the Rs 100,000 per ten grams range in H22025," news agency ANI quoted the report on Saturday.

As the gold prices continue to rally over the past few months, there has been a significant decline in gold imports. Gold imports declined to $2.5 billion in May, compared to $3.5 billion in April, according to ICICI Securities report.

Apart from a slump in demand for gold in domestic markets, the precious metal continue to enjoy heightened investors' appetite for gold because of geopolitical uncertainty and trade tensions. Despite the sequential fall in gold prices, investment demand for the yellow metal remained strong, which is evident from ETF flows as well. In June, gold prices in India shot to their record levels after Iran launched strikes against Israel.

The price of the metal surged further after the United States carried out strikes against Iranian nuclear sites. However, tensions between the two nations eased after the announcement of a ceasefire between Israel and Iran.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.