Gold Price In India Today, 4th Jan: 24K/100 Grams of Gold Rate Falls Rs 4,900; 1 Kg Silver Down Rs 1,000

Gold prices in India fell precipitously on January 4, as players await further global cues amid strong dollar and US Treasury yields are rising, gold prices fluctuate on the domestic market. Nonetheless, global unpredictability and Trump's tariff concerns would boost prices. However, rising PBOC and ECB rate-cutting expectations might additionally assist yellow metal in sustaining its gains in the face of a strong currency and rising US Treasury yields.

Gold Rates In India Today

In India, the current price of gold is Rs 7,871 per gramme for 24 carat gold and Rs 7,215 per gramme for 22 carat gold. In India, the price of 22k of 10 grams of gold fell by Rs 450 from Rs 72,600 on Friday to Rs 72,150 on Saturday. Meanwhile, the price of Rs 22,k of 100 grams of gold dropped by Rs 4,500 from Rs 7,26,000 yesterday to Rs 7,21,500 today.

While 24k of 100 grammes of gold will cost Rs 7,87,100 in India today compared to Rs 7,92,000 yesterday, marking a price savings of Rs 4,900, 24k of 10 grammes of gold prices in India on Saturday hit Rs 78,710 compared to Rs 79,200, showing a price drop of Rs 490.

In India, the price of 18k of 10 grammes of gold will be Rs 59,030, down Rs 370 from yesterday's price of Rs 59,400, while the price of 18k of 100 grammes of gold will be Rs 5,90,300, down Rs 3,700 from Friday's price of Rs 5,94,000.

Spot Gold

U.S. gold futures ended the day 0.5% lower at $2,654.70, according to Reuters, while spot gold dropped 0.6% to $2,641.52 an ounce at 01:41 p.m. ET (1841 GMT), after reaching its highest level since December 13. Palladium climbed 1.7% to $926.51, platinum advanced 1.9% to $940.80, while spot silver climbed 0.2% to $29.63 an ounce.

Silver Rates In India Today

Silver prices in the domestic market fell precipitously amid increasing expectations of higher demand and higher manufacturing activity in the US. Today, silver costs Rs 91.50 per gramme and Rs 91,500 per kilogramme in India. Ten grammes of silver will cost Rs 915 instead of Rs 925 yesterday, 100 grammes of silver will cost Rs 9,150 on Saturday as opposed of Rs 9,250 on Friday, which represents a 100 rupee price drop, and one kilogramme of silver will cost Rs 91,500 today versus of Rs 92,500 yesterday, which represents a 1,000 rupee price drop.

Gold Price Outlook

"Gold traded with minor gains, ending Rs 50 higher at Rs 77,700 in the domestic market, while Comex gold maintained a sideways trend around $2,655. The market remains steady, with limited movements as participants await further global cues to determine the next direction. The overall sentiment stays cautious amidst a consolidative phase," commented Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Spot Gold Outlook

"Spot Gold is expected to hold its gains and move towards $2675, amid increasing safe haven demand. Prices would find support on geopolitical uncertainty and Trump's tariff concerns. Further, increasing prospects of rate cut by PBOC and ECB would also help the yellow metal to hold its gains. On the other hand strong dollar and higher US treasury yield might check its upside. Spot gold has moved above the 20 and 50 day EMA's suggesting bullish bias. On the upside, $2700 would act as major hurdle. MCX Gold February is expected to move towards 78,200, as long as it trades above 77,200," said the broking firm 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.