Gold Price Today, Jan 29: Sharp Rally In Yellow Metal Prices After Falling For 2-Days

Gold prices today witnessed sharp rally in India as investors look forward to the US Federal Reserve’s interest rate decision expected to be declared later in the day. 24 carat gold price today stood at Rs 82,850/10 grams after steep jump of Rs 920 while 100 grams of 24 carat precious metal prices today surged by Rs 9,200 to Rs 8,28,500. 22 carat gold price today is retailing at Rs 75,950/10 grams after rally of Rs 850 and 100 grams of 22 carat yellow metal prices inched up by Rs 8,500 to settle at Rs 7,59,500 on Wednesday.

Meanwhile, 18k gold price today rallied by Rs 690 to Rs 62,140/10 grams and 100 grams of 18k precious metal prices zoomed by Rs 6,900 to Rs 6,21,400, according to Goodreturns.in.

1gm gold rate today for 22k stood at Rs 7,595 after gain of Rs 85 while 1 gram gold price today for 24k is retailing at Rs 8,285 after soaring by Rs 92. On the other hand, 1 gram gold rate today for 18 carat turned dearer by Rs 69 to settle at Rs 6,214.

Spot Gold Prices Today

Spot gold stood at $2,761.93 per ounce, as of 0526 GMT. US gold futures jumped 0.1% to $2,769.80. spot silver traded steady at $30.39 per ounce, platinum rose 0.3% to $944.30 and palladium decelined 0.5% to $952.25, according to Reuters.

Gold Prices Outlook

On how gold price will move in the coming days, Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said, “the upcoming U.S. Federal Reserve policy decision and India’s Union Budget are critical events, keeping participants cautious and focused on potential developments. These events are likely to drive volatility in the gold market, with near-term support seen around Rs.79,000 and resistance at Rs.80,600 in domestic.”

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities said, “international gold prices were steady ahead of the Fed decision tonight. It is expected that the central may not cut rates in this January meeting, although focus will be on the statement and the press conference of Fed Chair Jerome Powell. Prices have been gaining over the past few sessions on the back of safe haven buying amid fresh trade tariffs threat from the Trump administration. A more dovish outlook or a less hawkish outlook could support the current bullish trend and vice versa. Technically, from an intraday perspective Gold MCX April contract range would be between Rs. 80,700 to Rs.81,350.

22k Gold Price In Last 5-Days In India (for 1 gram)

1 gram of 22k gold price in India today surged by Rs 85, fell by Rs 30 on January 28, edged lower by Rs 15 on January 27, remained steady on January 26 and January 25.

Silver Prices Today In India

Silver price in India today remained steady yet again. 1 kg silver price today stood at Rs 96,500 and 100 grams silver rates retailed at Rs 9,650.

1kg Silver price in India in last 5-days

1 kg silver prices in India today remained flat, stayed unchanged on January 28, declined by Rs 1000 on January 27, stayed stable on January 26 and January 25.

1 Gram gold rate today In key metropolitan cities and states of India on Jan 29, 2025

City	22k Gold Price Per Gram
Chennai Gold Price Today	22 carat gold rate is Rs 7,595
Mumbai Gold Price Today	22K gold price is Rs 7,595
Delhi Gold Rate Today	22K yellow metal price is Rs 7,610
Kolkata Gold Price Today	22 carat gold price is Rs 7,595
Bangalore Gold Price Today	22K gold rate is Rs 7,595
Hyderabad Gold Prices Today	22 carat gold rate is Rs 7,595
Kerala Gold Prices Today	22 carat gold rate is Rs 7,595
Gold Price In Lucknow Today	22 carat gold price is Rs 7610

(Gold price figures source: Goodreturns.in)

Disclaimer

The story highlights gold prices and should not be considered an investment advice by Moneydaily.in or the author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult an expert before making any investment decisions.