Gold prices in India today surged and likely to post a fourth consecutive weekly gain amid ambiguity prevailing around US President Donald Trum’s tariff policies and plans to reduced interest rates weighing on the Dollar. 24-carat gold price today in the country witnessed gain by Rs 330 to settle at Rs 82,420/10 grams and 100 grams of 24ct gold price today soared by Rs 3,300 to Rs 8,24,200.
Meanwhile, 22k gold price today edged higher by Rs 300 to Rs 75,550/10 grams and 100 grams of 22ct gold rate today zoomed by Rs 3000 to Rs 7,55,500 on Friday. 18 carat gold rate today has been retailing at Rs 61,820/10 grams after gain by Rs 250 and 100 grams of 18k precious metal prices today soared by Rs 2,500 to Rs 6,18,200, according to Goodreturns.in.
On the other hand, 1 gram gold rate today for 22 carat precious metal is Rs 7,555 and 1gm gold rate today for 24-carat yellow metal is Rs 8,242. Meanwhile, 1 gram gold on January 24 has been selling for Rs 6,182.
Gold Prices Outlook
According to Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, “market participants are now focusing on the upcoming U.S. Federal Reserve policy meeting scheduled for January 29, 2025. With recent data, including a lower-than-expected CPI and softer payroll numbers, expectations are building for the Fed to adopt a rate-lowering stance. However, ahead of the event, some resistance is likely as traders may book profits at higher levels. In MCX, gold could see profit booking towards the Rs 78,800-Rs 79,000 zones, with volatility expected to persist until clearer cues emerge from the Fed’s policy announcement.”
Spot Gold Prices Today
Spot gold surged 0.7% to $2,773.57 per ounce, as of 0505 GMT, and rallied over 2% till now this week. Earlier in the day, prices zoomed to $2,777.10, highest since October 31, when they touched the record high of $2,790.15. Spot silver inched up 1.1% at $30.78 per ounce, palladium jumped 0.9% to $1,000.85 and platinum moved up by 1% to 952.10, according to Reuters.
As Gold Prices Hover Near All Time High, Will It Impact Demand?
According to Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL), “following Trump’s call for an immediate reduction in US interest rates, gold has reached an all-time high in Indian markets, trading at Rs 80000. It is almost at an all-time high in the international market, trading at around $2780. Trump also stated that tariffs on imports from China, Canada, Mexico, and the European Union could be imposed on February 1st, but nothing is known about his trade policies.”
The ECB is predicted to lower interest rates next week, the Fed is projected to keep rates steady, and the BoJ has raised rates today. Furthermore, in 2024, governments, monetary authorities, and central banks remained net gold purchasers. After purchasing a record 1082 tons of gold in 2022, the central banks added 1037 tons in 2024, the second-highest yearly purchase in history. Gold is seen by central banks as a safe and reliable strategic asset, added Prithviraj Kothari.
Rajesh Rokde, Chairman of All India Gem & Jewellery Domestic Council (GJC) highlighted that demand for the yellow metal will continue to rise irrespective of the surge. Rajesh Rokde said, “gold’s cultural significance in India remains unwavering, despite the recent surge to Rs 80,000. While consumer preferences may shift towards more affordable options, our optimism lies in the fact that Indians will continue to find ways to incorporate gold into their lives. We foresee a growing demand for lightweight, versatile designs that cater to the evolving needs of our consumers.”
Silver Prices Today In India
Silver price in India today witnessed rally for the first time since January 18, 2025. 1 kg silver price today surged by Rs 1000 to Rs 97,500. And, 100 grams silver rates on January 24, 2025 inched higher by Rs 100 to settle at Rs 9,750.
22k Gold Price In Last 5-Days In India (for 1 gram)
22k gold price in India today surged by Rs 30, remained unchanged on January 23, soared by Rs 75 on January 22, stayed unchanged on January 21, rose by Rs 15 on January 20, and remained unchanged on January 19.
The Reuters report added, Trump called for an immediate drop in rates and provided no clarity on tariffs. The lack of clarity about his future policies has led market participants flocking to safe-haven assets such as gold to hedge against volatility. It is worth noting here that Bank of Japan hiked interest rates to their highest level since 2008 world financial crisis.
1 kg Silver price in India in last 5-days
1 kg silver prices in India today zoomed by Rs 1000 and remained steady on January 23, January 22, January 21, January 20, and January 19.
1 Gram gold rate today In key metropolitan cities and states of India on January 24, 2025
| City | 22k Gold Price Per Gram |
| Chennai Gold Price Today | 22 carat gold rate is Rs 7,555 |
| Mumbai Gold Price Today | 22K gold price is Rs 7,555 |
| Delhi Gold Rate Today | 22K yellow metal price is Rs 7,570 |
| Kolkata Gold Price Today | 22 carat gold price is Rs 7,555 |
| Bangalore Gold Price Today | 22K gold rate is Rs 7,555 |
| Hyderabad Gold Prices Today | 22 carat gold rate is Rs 7,555 |
| Kerala Gold Prices Today | 22 carat gold rate is Rs 7,555 |
(Gold price figures source: Goodreturns.in)
Disclaimer
The story highlights gold prices and should not be considered as investment advice by the 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.
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