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.
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