Gold Rates In India Surge After Mega Crash: 24K, 22K, 18K Gold Rate In Chennai, Hyderabad, Bengaluru On Jan-17

Gold rates in India rebounded on January 17, after crashing for two consecutive day. However, gold prices in Chennai is expensive compared to gold rates in cities like Bengaluru and Hyderabad. Nonetheless, gold prices are up by 6-7% in January so far. The outlook structure for yellow metal remains positive in the coming week. Let's find out where gold is headed.

Gold Rates In India:

Further, 22 carat gold rate climbed by Rs 350 to Rs 1,31,800, surged by Rs 3,500 to 13,18,000 per 100 grams, higher by Rs 280 to Rs 1,05,440 per 8 grams, and edged up by 35 to Rs 13,180 per 1 gram.

Meanwhile, 18 carat gold rate registered an upside of Rs 290 to Rs 1,07,840 per 10 grams, soared by Rs 2,900 to Rs 10,78,400 per 100 grams. Additionally, 8 grams gold surged by Rs 232 to Rs 86,272 and 1 gram is up by Rs 29 to Rs 10,784.

These prices are near their all-time highs. Notably, gold prices in Bengaluru and Hyderabad are the same.

Gold Rates In Chennai:

Under 24 carat, 10 grams gold price soared by Rs 540 to Rs 1,44,870, 100 grams surged by Rs 5,400 to Rs 14,48,700, 8 grams jumped by Rs 432 to Rs 1,15,896, and 1 gram edged higher by Rs 54 to Rs 14,487.

In case of 22 carat, 10 grams gold saw an upside of Rs 500 to Rs 1,32,800, while 100 grams gold rose by Rs 5,000 to Rs 13,28,000, followed by an upside of Rs 400 to Rs 1,06,240 per 8 grams and up by Rs 50 to Rs 13,280.

Coming to 18 carat, 10 grams gold is at Rs 1,10,900, up by Rs 400. Here, 100 grams gold rate is at Rs 11,09,000, which is up by Rs 4,000. Further, 8 grams gold is up by Rs 320 to Rs 88,720 and 1 gram is up by Rs 40 to Rs 11,090.

Gold Rates In India Prediction:

According to Ponmudi R, CEO of Enrich Money, here are the prediction for spot gold and MCX gold prices next week, which will also have a significant impact in gold rates of India:

Spot Gold Price Outlook:

On the technical front, COMEX Gold is consolidating within the $4,530-$4,610 range after record highs, while respecting its multi-year rising channel and higher-low structure. The previous breakout zone around $4,500 has now turned into a strong support area. A sustained breakout above $4,650 could open the path toward $4,800-$5,000, keeping the broader strategy firmly tilted toward buying on dips.

MCX Gold Price Outlook:

MCX Gold is trading near ₹1,42,500 per 10 grams and continues to consolidate after lifetime highs within a well-defined upward channel. Support is placed in the Rs 1,38,000- Rs 1,40,000 zone, while a decisive move above Rs 1,43,000 could extend the rally toward Rs 1,45,000 - Rs 1,48,000 and higher. The structure remains positive, supported by global price strength, rupee dynamics, and steady domestic demand.

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