Massive Jump In Gold Price In India Today, 11th Feb: 24K/100 Grams of Gold Rally Rs 8,700; Silver Stable

Gold prices in the domestic market saw an abrupt rise on Tuesday, February 11, following Trump's latest round of tariffs on metal products, which heightened fears concerning the trade war. Due to demand for safe-haven assets after Trump's trade policies, the bullion has been able to climb in value due to the strong dollar and a spike in US Treasury yields following US job data.

Gold Price In India Today

Currently, 22 carat gold costs Rs 8,060 per gramme in India, whereas 24 carat gold costs Rs 8,793 per gramme. While the price of 10 grams of 22k gold in India climbed by Rs 800 from Rs 79,800 on Monday to Rs 80,600 on Tuesday, the price of 100 grams of 22k gold would cost Rs 8,06,000 today in India, up Rs 8,000 from Rs 7,98,000 yesterday.

In India, the price of 24k of 10 grams of gold jumped to Rs 87,930 on Tuesday from Rs 87,060 on Monday, an additional cost of Rs 870. In contrast, the price of 24k of 100 grams of gold would cost Rs 8,79,300 today from Rs 8,70,600 yesterday, a price gain of Rs 8,700.

The price of 18k of 10 grammes of gold in India jumped to Rs 660 on Tuesday from Rs 65,290 on Monday, while the price of 18k of 100 grammes of gold would cost Rs 6,59,500 today from Rs 6,52,900 yesterday, or a costlier rate of Rs 6,600.

Spot Gold Today

Gold prices surged to a new high on Tuesday. According to Reuters, U.S. gold futures were up 1.1% to $2,966.00, while spot gold was up 1.1% at $2,939.80 per ounce as of 0229 GMT after reaching a record high of $2,942.70 earlier in the day. Palladium climbed 0.4% to $986.97, platinum dropped 0.4% to $989.50, while spot silver strengthened 0.4% to $32.16 an ounce.

Silver Price In India Today

After spot silver fell below $32 amid the strong dollar and dwindling chances of two rate cuts this year, the price of silver in India remained steady today at Rs 99.50 per gramme and Rs 99,500 per kilogramme in the domestic market.

MCX Gold Outlook Today

"From a technical perspective, MCX Gold maintained its positive sentiment for the second consecutive session and formed a bullish candle on the daily chart. Recent price action clearly depicts strong buying interest as the commodity is consistently forming higher highs and higher lows on the daily chart. If MCX Gold breaks above 85820, it could advance towards 86200/86500 levels. Conversely, support is seen at 85300/85000 levels. Traders are advised to maintain tight stop losses, as the index is trading in a critical zone that could witness heightened volatility," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading mix today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as gold prices rose hit a record - rallying closer toward a test of $3,000 an ounce - after President Donald Trump imposed tariffs on US steel and aluminum imports, adding to uncertainty in global markets and stoking haven demand," as per Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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