As markets anticipated updates on the U.S. economy and the Federal Reserve’s interest rate policy for 2025, the yellow metal’s prices rose on Friday due to safe-haven demand in weak trading following the Christmas holiday. Gold rates are anticipated to move higher in the upcoming sessions due to the US dollar’s softening and rising US Treasury yields. The bullion metal will rise in the midst of global political unpredictability, and market observers anticipate further economic data to provide additional insight into the Fed’s future course of action.

Gold Rates In India Today

In India right now, 22 carat gold costs Rs 7,150 per gramme, whereas 24 carat gold costs Rs 7,800 per gramme. While 22k of 100 grammes of gold would cost Rs 7,15,000 compared to Rs 7,12,500 yesterday, reflecting a price spike of Rs 2,500, the price of 22k of 10 grammes of gold in India reached Rs 71,500 on Friday compared to Rs 71,250 on Thursday, up by Rs 250.

While the price of 24k of 100 grammes of gold in India increased by Rs 2,700 to Rs 7,80,000 on Friday from Rs 7,77,300 on Thursday, 24k of 10 grammes of gold would cost Rs 78,000 today compared to Rs 77,730 yesterday, reflecting a price jump of Rs 270.

While 18k of 100 grammes of gold prices in India hit Rs 5,85,000 on Friday compared to Rs 5,83,000 on Thursday, marking a price spike of Rs 2,000, 18k of 10 grammes of gold will cost Rs 58,500 today compared to Rs 58,300 yesterday, showing a price surge of Rs 200.

Spot Gold Today

In Friday’s weak trade, spot gold dropped 0.2% to $2,630.28 an ounce as of 0221 GMT, according to Reuters. At $2,649.10, U.S. gold futures fell 0.2%. Palladium dropped 0.3% to $922.58, spot silver dropped 0.2% to $29.75 an ounce, while platinum increased 0.1% to $936.85.

Silver Rates In India Today

In India, silver now costs Rs 92,500 per kilogramme and Rs 92.50 per gramme. Ten grammes of silver will cost Rs 925 instead of Rs 916 yesterday, 100 grammes of silver will cost Rs 9,250 on Friday instead of Rs 9,160 on Thursday, and one kilogramme of silver will cost Rs 92,500 today instead of Rs 91,600 yesterday, which represents a Rs 900 price rise.

MCX Gold Outlook Today

“On the domestic front, MCX Gold closed above the key level of 76800 with the formation of a bullish candle on the daily chart. The commodity experienced a positive breakout of the 50-day EMA accompanied by increased buying volumes, indicating a positive bias. In terms of support and resistance, MCX Gold may encounter resistance at 77000/77420 levels, with a break above 77420 potentially pushing prices towards 77850/78200 levels. On the downside, support is observed at 76580/76350 levels, with a breakdown below 76350 likely dragging the commodity to 76000/75650 levels. Traders are advised to maintain strict stop-losses, as volatility may remain high due to ongoing geopolitical tensions,” said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Spot Gold Outlook Today

“Spot gold is expected to hold the support of $2610 and move towards $2650 amid softness in the dollar and increasing safe haven demand. Further, rise in ETF holdings indicates increasing investors interest towards the safe assets for investments. Global political uncertainties would also help the metal to stay firm in a holiday shortened week. Meanwhile, traders will await more economic data to get further clarity on Fed’s next move. Spot gold is hovering below the short-term moving averages, which could act as key resistance near 20 day EMA at $2635. A move above $2635 would open the doors towards $2650. MCX Gold February is expected to move in the band of 76,200 and 77,250. Above 77,250 it would rise towards 77,600,” said the technical research analysts of ICICI Direct Research.

Gold Rates In Top Indian Cities Today

Disclaimer

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