Gold Price Outlook Today, 2nd Jan: Big Surge In Gold Rates In India, MCX Gold Faces Selling Pressure; Why?

Since the gold market has entered a moment of high-stakes volatility, gold rates in India saw an enormous spike on Friday, January 2. An unusual mix of fragile military strife in the Gulf, a tightening energy blockade in the Americas, and a clear change in U.S. monetary expectations is reviving the classic "safe haven" appeal of bullion. Today, the price of gold in India jumped to Rs 10,215 per gram for 18 carat gold, Rs 12,485 per gram for 22 carat gold, and Rs 13,620 per gram for 24 carat gold.

Gold Rates In India Today

The price of 24k of 10 grams of gold in India climbed by Rs 1,140 to Rs 1,36,200 from Rs 1,35,060. On Friday, the price of 24k of 100 grams of gold in India jumped by Rs 11,400 from Rs 13,50,600 to Rs 13,62,000.

In India, the price of 22k of 10 grams of gold jumped by Rs 1,050 to Rs 1,24,850 from Rs 1,23,800 yesterday. In contrast, the price of 22k of 100 grams of gold climbed by Rs 10,500 to Rs 12,48,500 on Friday from Rs 12,38,000 yesterday.

In India, the price of 18k of 10 grams of gold jumped by Rs 860 to Rs 1,02,150 from Rs 1,01,290 yesterday. On Friday, the price of 18k of 100 grams of gold surged by Rs 8,600 to Rs 10,21,500 from Rs 10,12,900 on Thursday.

MCX Gold Outlook Today

"On the technical front, MCX Gold has witnessed its first major Dip in the recent past. In Monday's session, it showed initial signs of weakness, forming a tweezer top candlestick pattern on the daily chart. It now trades near its crucial momentum 20 DEMA line support zone. Any cut below the 20 DEMA line can invite more selling. Traders can use any bounce to pare long positions and wait for momentum to regain strength. Immediate Resistance is placed at 136350, while the support is seen at 134300," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Spot Gold Outlook Today

"Spot gold is expected to move higher amid geopolitical risks. Tension between UAE and Saudi Arabia have widened into an unprecedented public confrontation. The rift escalated dramatically in late December 2025 due to a series of military and diplomatic clashes. Prices would also get support from increasing prospects of further monetary policy easing from the US Fed and safe haven buying," commented the technical research analysts of ICICI Securities.

"As per the CME Fed-watch tool March rate cut probability gone above 50%. Further, rising frictions between US and Venezuela continue to underpin gold's defensive appeal. Spot gold is expected to move towards $4380, as long as it holds above $4300 mark," they further added.

Gold & Silver Fundamental Outlook Today

"Gold and silver prices have witnessed profit bookings from the higher levels on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day; after silver prices retreated after smashing through $80 an ounce for the first time, with traders booking profits from a record-breaking rally powered by speculative deals and a structural imbalance in supply and demand," commented the research analysts of Nirmal Bang Securities.

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