Gold Rate Today in Delhi Breaks 5-Day Rally: 24k, 22k, 18k Gold Price Drops on Sankranti; Silver Close To 3Lac

Gold and silver buyers received major relief on the Sankranti festival as precious metal prices declined sharply on Thursday, ending a five-day rally in domestic markets. After climbing steadily over the past week, gold rate in Delhi finally reversed course, offering much-needed respite to consumers.

The sudden drop in gold rates today has come as welcome news for buyers on the day of Sankranti, when demand for gold traditionally sees a spike across several parts of India.

According to market analysts, the decline follows profit booking by investors, after gold touched record levels in the previous trading session. The precious metal, which had gained consistently amid global uncertainties, saw selling pressure as traders chose to lock in gains.
International factors also played a role in easing safe-haven demand. A relatively softer tone from U.S. President Donald Trump on key geopolitical and monetary issues, including remarks related to the Federal Reserve chair and Iran, reduced market anxiety. This led to a dip in demand for gold.

Gold Rate In Delhi Today

On 15th January , 22-carat gold rates in Delhi slipped by Rs 750 per 10 grams to cost Rs.1,31,400, while the 24-carat gold rates declined by Rs. 820 to retail at Rs. 1,43,400 per 10 grams.

For heavy weight quantities, 100 grams of 24-carat gold rates are now priced at Rs. 14,34,000 after witnessing the decline of Rs.8200, while the 22-carat gold fell by Rs. 7500 to cost Rs. 13,14,000. Just like that, 18-carat gold rates in India also experienced this fall, which made the yellow metal dip to Rs. 6100 per 100 grams to retail at Rs. 10,75,400.

Silver Rates in Delhi Today

Silver prices in India on 15th January jumped by Rs.5000 for the fifth consecutive session. Silver rates in Delhi today cost Rs. 2,95,000 per kg. The price of 100 grams of silver was Rs. 29,500, a rise of Rs. 500.

MCX Gold and Silver Futures Update

Trading on the Multi Commodity Exchange is closed today as it is a market holiday, gold futures, slated to mature on February 5th, settled yesterday Rs. 1,43,201 per 10 grams, after gaining 0.67%. Similarly, silver futures, with an expiry date of March 5 ended after rising by 0.34% to Rs. 2,89,000 per Kg.

International Gold and Silver Prices Update

Gold prices took a hit on Thursday following last week's record highs. According to Reuters, "Spot gold was down 0.7% at $4,589.71 per ounce, as ‌of 0501 GMT. In the previous session, bullion hit a record $4,642.72. U.S. gold ​futures for February delivery fell 0.9% to $4,594.10. Spot silver slid 5.5% to $87.62 per ounce."

Market Experts on Bullion Outlook

According to a research report by India Bullion and Jewelers Association Ltd., "Gold prices scaled fresh record highs near $4,620 per ounce as softer US inflation reinforced expectations of a non-restrictive policy stance, while rising safe-haven demand was driven by concerns over Fed independence, geopolitical risks, and fresh US tariff threats linked to Iran." as per Way to Wealth.

"On the technical front, MCX Gold continued to make fresh all-time highs in yesterday's session. The trend remains positive with strong momentum, and a new higher high was formed. Immediate support is placed at 139,050, while resistance is seen in the range of 143,950-146,800. Any close below 139,050 would indicate potential weakness. Traders can buy MCX Gold for a target of 143,950-146,800, with a close below 139,050 acting as a stop-loss."