Gold prices in India are shaped more by global trading trends than by local demand and supply, with markets like London OTC and COMEX playing a key role. On New Year’s Day, gold rates saw a dip, offering some relief to buyers.
“Gold prices are likely see some consolidation in the coming year but the bias is expected to remain positive, considering the metals safe-haven allure and best hedge in times of uncertainty. On target for the coming year, we expect the bullion to test levels of $2900-$3000 in the international market and around Rs84000 – Rs85000 in the Indian market, however, overall prices are expected to give moderate return of around 5-7% for the year,” said Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services
Gold and silver rates today, January 1
The 24-carat gold rate in India was Rs 77,550 per 10 grams on January 1. The rate for 24-carat gold per gram is Rs 7,755. While the rate of 22-carat gold was Rs 71,090 per 10 grams.
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On January 1, 24-carat gold prices dipped to Rs 77,550 for 10 grams, while silver fell to Rs 90,400 per kilogram, as per Good Returns.
Gold rate in Mumbai on January 1
The Gold rate in Mumbai is Rs 77,550/10 grams today. On December 30, the gold was available for 77,560/10 grams.
Silver rate in Mumbai on January 1
Silver rate in Mumbai was Rs 90,400/Kg on January 1, while it was priced at Rs 90,500/Kg on the previous day.
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Gold rate in Delhi on January 1
On January 1, the gold rate in Delhi is Rs 77,700/10 grams for 24 carat. The gold was quoted at Rs 71,240/10 grams for 22 carat.
Silver rate in Delhi on January 1
The silver rate in Delhi was Rs 90,400/Kg on January 1. The price of silver for 10 gram Rs 904/gram on January 1.
Gold rate in Kolkata on January 1
The gold rate in Kolkata was Rs 77,550/10 grams, today, January 1. The glittering metal was selling for Rs 71,090/10 grams for 22 carat.
Silver rate in Kolkata on January 1
Today, the silver rate in Kolkata is Rs 90,400/Kg and for 10 gram, it was priced 904.
Gold rate in Chennai on January 1
On January 1, the gold rate in Chennai was Rs 77,550/10 grams for 24 carat gold and 22 carat was priced at Rs 71,090/10 grams.
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Silver rate in Chennai on January 1
The silver rate in Chennai today, January 1, is Rs 97,900/Kg and for 10 gram it is priced at Rs 979.
MCX Futures on January 1
The gold MCX futures contract with the expiry of February 05, 2025, was quoted for Rs 76,266 per 10 gm. While the futures contracts for silver with the March 2025 expiry on MCX futures were trading at Rs 87,575 per kg.
