Gold and silver prices in India experienced a significant surge on January 13, 2025, continuing the upward momentum from the previous week. While global gold markets face challenges due to a strengthening U.S. dollar, domestic demand and market sentiment are driving prices higher in India.
On January 13, 2025, the price of 24-carat gold in India rose by Rs. 400, reaching Rs. 73,400 per 10 grams. In a notable development, the price of 24-carat gold jumped by Rs. 430, crossing the Rs. 80,000 mark to stand at Rs. 80,070 per 10 grams. Similarly, 18-carat gold saw an increase of Rs. 330, with prices now standing at Rs. 60,060.
For those buying in bulk, 100 grams of 24-carat gold now costs Rs. 8,00,700, up by Rs. 4,300. The price of 22-carat gold for 100 grams increased by Rs. 4,000, bringing the cost to Rs. 7,34,000. Meanwhile, 18-carat gold per 100 grams crossed the Rs. 6,00,000 mark, retailing at Rs. 6,00,600 after an increase of Rs. 3,300.
In addition to gold, silver prices also saw a jump. The price of silver rose by Rs. 1,000 per kilogram, now retailing at Rs. 94,500. The cost of 100 grams of silver rose by Rs. 100, reaching Rs. 9,430.
MCX Gold and Silver Futures Update
On the Multi Commodity Exchange (MCX), gold futures for February 5, 2025, rose by 195 points, or 0.25%, reaching Rs. 78,618. In contrast, silver futures for March 5, 2025, traded lower by 0.18%, shedding 166 points to settle at Rs. 92,340.
Global Market Insights
On the international front, gold prices held steady on January 13, supported by stronger-than-expected U.S. jobs data that reinforced the Federal Reserve’s cautious stance on interest rate cuts. Ongoing uncertainty surrounding U.S. policy under the incoming Trump administration has also bolstered demand for gold as a safe-haven asset. Spot gold traded at $2,689.09 per ounce, near the one-month high reached on Friday. U.S. gold futures rose by 0.2%, reaching $2,719.50 per ounce. Meanwhile, spot silver saw a slight decline of 0.1%, trading at $30.36 per ounce.
Market Outlook on Gold Prices
According to a recent report by Way to Wealth, international gold prices surged above $2,680 per ounce, marking their highest level since mid-December. Domestically, MCX Gold continued its upward momentum for the fourth consecutive session. Technical indicators suggest that if the price sustains above the supply range of Rs. 78,200–79,000, it could potentially move towards new all-time highs. However, a break below certain key levels could trigger short-term profit-taking.
Traders are advised to monitor market volatility closely, as multiple macroeconomic data releases and ongoing geopolitical tensions could influence price movements in the near future.
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