Gold Rate in India Rises After Multi-Day Slide, MCX Gold Up; Will Rally Sustain Amid US-Iran Ceasefire Talks?

After witnessing a sharp and continuous decline over the past week, gold rates in India have staged a notable rebound, bringing relief to investors and buyers. The precious yellow metal had fallen significantly in recent sessions, with 24 Karat (24K) gold dropping by nearly Rs 1,51,700 per 100 grams.

The recent rebound in gold prices is not just a technical recovery but is also closely linked to developments in the Middle East, particularly the evolving situation between the United States and Iran. Over the past few sessions, gold had been under pressure despite ongoing tensions. However, the latest reports suggesting that the US is exploring talks with Iran and pushing for a temporary ceasefire have helped improve overall market sentiment.

Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram Amid US-Iran Talks

24 Karat Gold Rate Today in India

At the time of writing, the rate for 24K gold has climbed to Rs 14,667 per gram, up by Rs 376 compared to the previous session. 8 grams of 24K gold is priced at Rs 1,17,336, reflecting a gain of Rs 3,008. Similarly, 10 grams of 24K is priced at Rs 1,46,670, up by Rs 3,760, while 100 grams has risen to Rs 14,66,700, marking a sharp increase of Rs 37,600.

22 Karat Gold Rate Today in India

The price of 22K gold stands at Rs 13,445 per gram, up by Rs 345 from the previous day. 8 grams of 22K gold is now priced at Rs 1,07,560, showing a rise of Rs 2,760. 10 grams costs Rs 1,34,450, up by Rs 3,450, while 100 grams is priced at Rs 13,44,500, registering a gain of Rs 34,500.

18K Gold Rate Today in India

The price of 18K gold is Rs 11,001, up by Rs 282 as per latest trading session. 8 grams is priced at Rs 88,008, reflecting a gain of Rs 2,256. 10 grams now costs Rs 1,10,010, up by Rs 2,820, while 100 grams is valued at Rs 11,00,100, showing an increase of Rs 28,200.

MCX Gold Price Surges Over 4%

In the domestic futures market, on the Multi Commodity Exchange (MCX), gold prices surged over 4% per 10 grams, rising sharply from the previous close of Rs 1,39,107.

Latest Spot Gold Price

Internationally, gold prices have extended gains, climbing above $4,500. The rally is being driven by easing geopolitical concerns, particularly reports suggesting that the US is working towards negotiations with Iran.

Media reports indicate a possible one-month ceasefire proposal aimed at facilitating talks, which has boosted investor confidence and triggered fresh buying in global bullion markets.

Rebound in Gold Rates; What It Means for Gold Buyers and Investors: Check Gold Price Outlook

"Since there is no significant Long buildup in Gold and Silver both with recent price-rebound, traders are advised to look for the short opportunity until price breaks above crucial resistance levels. Previously, price has declined for three-consecutive weeks in both. Key support would be at 50-EMA levels on Weekly chart placed at 124,500 and 183,950 in Gold and Silver respectively. On the other side, crucial resistance would be at 151,400 and 252,500," said Aamir Makda, Commodity & Currency Analyst at Choice Broking.

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