Gold Price In India Today, 14th Jan: 24K/100 Gram of Gold Price Falls Rs 1,100; 1 Kg Silver Drops Rs 2000

Due to the weak rupee, which was caused by rising crude oil costs and growing geopolitical concerns, the price of gold fell precipitously on the domestic market on Tuesday, January 14. Gold prices may fluctuate in the future due to increased uncertainty around a hawkish Federal Reserve and the release of US non-farm and unemployment rate statistics.

Gold Rates In India Today

In India, the current price of gold is Rs 7,996 per gramme for 24-carat gold and Rs 7,330 per gramme for 22 carat gold. In India, the price of 22k of 10 grams of gold dropped by Rs 100 to Rs 73,300 on Tuesday from Rs 73,400 on Monday. Meanwhile, the price of 22k of 100 grams of gold dropped by Rs 1,000 to Rs 7,33,000 today from Rs 7,34,000 yesterday.

24k of 10 grams of gold rates in India on Tuesday reached Rs 79,960 compared to Rs 80,070 on Monday representing a price drop of Rs 110 whereas 24k of 100 grams of gold will cost Rs 7,99,600 in India today compared to Rs 8,00,700 yesterday representing a price of drop of Rs 1,100.

In India, the price of 18k of 10 grams of gold dropped by Rs 90 to Rs 59,970 on Tuesday from Rs 60,060 on Monday. Meanwhile, the price of 18k of 100 grams of gold dropped by Rs 900 to Rs 5,99,700 today from Rs 6,00,600 yesterday.

Spot Gold Today

Following a strong job report released on Monday, gold prices fell on Tuesday. According to Reuters, U.S. gold futures were 1.3% down at $2,678.60, while spot gold dropped 1% to $2,661.76 an ounce as of 03:57 p.m. ET (2057 GMT). Palladium was down 0.5% to $943.50, platinum fell 1.4% to $950.90, while spot silver fell 2.6% to $29.62 an ounce.

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 today instead of Rs 945 yesterday, 100 grammes of silver will cost Rs 9,250 on Tuesday instead of Rs 9,450 on Monday, and one kilogramme of silver will cost Rs 92,500 on Tuesday, which is Rs 2,000 less than Rs 94,500 on Monday.

MCX Gold Outlook Today

"On the domestic front, MCX Gold witnessed profit booking at key resistance levels and formed a gravestone doji candlestick pattern featuring a bearish body on the daily chart. The commodity is currently hovering around its major supply levels, and a break below the doji candle low (78066) could invite further selling pressure and push the commodity towards 77700/77250 levels. However, if MCX Gold sustains above the supply range of 78200- 79000, it could advance towards 79280/79800 levels in the near term. Traders are advised to use strict stop-losses, as volatility may remain elevated due to multiple macroeconomic data releases later this week and ongoing geopolitical tensions," said the technical research analysts of Way2Wealth Brokers Pvt. Ltd.

Gold & Silver Price Prediction 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 lower for the day, as expectations for fewer US rate cuts this year was offset by haven demand ahead of Donald Trump's return to the White House," commented the brokerage firm Nirmal Bang Securities Pvt. Ltd.

Spot Gold Outlook

"Spot gold is likely to face stiff resistance near $2700 level amid strong dollar and surge in US treasury yields following strong job data. Additionally, series of economic data from US signaled resilience in the economy, reinforcing expectations among investors that US Federal Reserve will hit a pause button to its rate cutting cycle from January meeting and will not see rate cut sooner than June. Additionally, market is pricing in now just 1 rate cut in 2025 compared to 2 rate cuts. Spot gold is likely to face stiff resistance near $2700 level and slip back towards $2650 level which is also 20-day EMA. MCX Gold February is expected face resistance near 78,800 level and correct back towards 77,700 level," commented the technical research analysts of ICICI Direct Research.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns. in advises users to consult with certified experts before making any investment decision.