Gold Rate In India Nears Rs 1 Lakh; Is New All-Time High Coming? Check Rates In Delhi, Mumbai, etc On July 17

Gold Rate in India: The price of the precious metal is inching closer to reclaim its Rs 1 lakh mark, stirring anxiety among shoppers and investors. Today's surge in gold prices comes amid a sharp rise in silver prices, driven by strong industrial demand. The rally in both precious metals also reflects growing geopolitical uncertainty and escalating global trade tensions, adding to the market's cautious sentiment.

While investors are keenly waiting for an update on the India-US trade deal, United States President Donald Trump's tariff announcements for other nations like the European Union, UK, Mexico, etc have raised global trade tensions. Back in India, gold buyers are waiting for the right time to buy the gold at a dip. Jump in gold rate today, has raised questions about whether gold rates will consolidate or touch a fresh high?

Gold Rate in India Today

The price of 24 karat gold in India increased by Rs 5 to Rs 9,933 per gram. Likewise, the price of 22 karat gold in India surged by an equal margin to Rs 9,105 per gram. 18 karat gold rate in India today increased by Rs 4 per gram to Rs 7,450 per gram. The price of gold has increased significantly over the past few months amid rising geopolitical uncertainty and stock market volatility.

Gold's safe haven rally made the yellow metal one of the most expensive and highly inflated items in India in June, according to the consumer price index data released earlier this week.

Silver Rate in India Today

Silver price in India stood at Rs 114 per gram, whereas the price of 1 kg silver stood at Rs 1,14,000. Silver price in India has increased significantly over the past few months. One of the prime reasons for surge in the price of silver in last one month is its better valuations compared to gold, according to experts.

Gold, Silver Price Outlook

"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 higher for the day," noted Nirmal Bang in its report.

Will Gold Price Rise Further?

"Gold prices are expected to rise. One can buy at 97350 with a stop loss of 97050 for the target at 97800-98100," added Nirmal Bang in its technical report released on Thursday.

For silver, the brokerage mentioned, "Silver prices are expected to rise. One can buy at 111200 with a stop loss of 110200 for the target 112300-113000."

" Gold rates were subject to moderate fluctuations during the week. The prices largely hovered around USD 3,300 - 3,350, thus remaining rangebound. The influence of the same is majorly due to the strengthening of dollar which kept the markets in mild pressure. The ripple effect of this can also be seen in the domestic gold prices where the prices remained well within the range of INR 97,000 - 99,000 / 10gms during the week," stated Colin Shah, MD, Kama Jewelry earlier.

Gold Rate in Indian Cities

In major Indian cities like Chennai and Mumbai, the price of 24 karat gold is consistent at Rs 9,933 per gram. Delhi sees a slightly higher rate at Rs 9,948 per gram. Meanwhile, Kolkata matches Chennai and Mumbai's pricing. Across Bangalore and Hyderabad, the rates remain steady at Rs 9,933 per gram as well.

For 22 karat gold, the rate in these cities is Rs 9,105 per gram except for Delhi where it's ₹9,115 per gram. The price for 18 karat gold varies slightly with Chennai having the highest rate at Rs 7,500 per gram.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.