Gold Rate Outlook On 1st Jan 2026: MCX Gold Turns Weak After A Month; 3 Key Triggers For Gold Prices Now

On the first day of 2026, gold prices in India surged on account of tariff-driven momentum, anticipated rate cuts, central bank buying, and ongoing geopolitical concerns. Due to a lack of liquidity on global markets during the New Year's holiday, it is anticipated that gold prices will be range-bound in the foreseeable future, curbing volatility in both spot and MCX gold.

Bullion prices continue to rise due to growing expectations of further monetary policy easing by the US Federal Reserve, with the CME FedWatch tool indicating a 50% chance of a rate cut in March. Additionally, spot gold is holding steady at lower levels due to demand for safe havens brought on by the Middle East's continuous geopolitical unpredictability and the growing conflict between the US and Venezuela.

Currency developments are crucial for Indian traders to keep an eye on as the new year gets underway, since MCX Gold movements in the home market will closely follow fluctuations in the USD-INR exchange rate.

Gold Rates In India Today

Today, the price of gold in India climbed to Rs 10,129 per gram for 18 carat gold, Rs 12,380 per gram for 22 carat gold, and Rs 13,506 per gram for 24 carat gold. The price of 24k of 10 grams of gold in India was Rs 1,35,060 today, up from Rs 1,34,890 yesterday. As a result, the price of 24k of 100 grams of gold in India jumped by Rs 1,700 to Rs 13,50,600 today.

Gold rates in India on Thursday reached Rs 1,23,800 for 22k of 10 grams, which was Rs 1,23,650 on Wednesday. 22k of 100 grams of gold rates have surged by Rs 1,500 overnight to Rs 12,38,000.

In India, the price of 18k of 100 gms of gold jumped by Rs 1,200 from yesterday to Rs 10,12,900 on Thursday. Today, 18k of 10 grams of gold will cost Rs 1,01,290, which was Rs 1,01,170 yesterday.

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 also formed a bearish marubozu and closed below the 10-DEMA support after consistently trading above it for the past month. These are early indications of weakness. 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 134000. Traders should adopt a cautious approach going forward," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

"MCX Gold Feb is likely to move in a wider range of Rs 134,500 and Rs 137,200. Only a move below Rs 134,500, it would correct towards Rs 132,500," commented the technical research analysts of ICICI Securities.

Spot Gold Outlook Today

"Gold is expected to move in a tight range as most global markets will remain close for New year holiday. Prices would get support from increasing prospects of further monetary policy easing from the US Fed and safe haven buying. As per the CME Fed-watch tool March rate cut probability gone above 50%," said the research analysts of ICICI Securities.

"Further, geopolitical uncertainty in Middle East and rising frictions between the US and Venezuela continue to underpin gold's defensive appeal. In the domestic market gold prices move would depend on the USDINR," they further added.

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