Gold Prices Hit All-Time High in India ;On Tuesday, February 4, 2025, gold prices in India soared to an all-time high, driven by the government’s vision for economic autonomy outlined in Budget 2025. The price of 24-carat gold reached ₹85,200 per 10 grams, marking a significant increase of ₹1,150 from the previous day.
In international markets, gold prices also remained strong, trading near record levels at $2,810 per ounce. The surge reflects growing demand for gold as a safe-haven asset amid global economic uncertainties.
Detailed Gold Price Analysis in India
The price surge was observed across various categories of gold:
22-Carat Gold
- 10 grams: ₹78,100 (up from ₹77,050, an increase of ₹1,050).
- 100 grams: ₹7,81,000 (up from ₹7,70,500, an increase of ₹10,500).
24-Carat Gold
- 10 grams: ₹85,200 (up from ₹84,050, an increase of ₹1,150).
- 100 grams: ₹8,52,000 (up from ₹8,40,500, an increase of ₹11,500).
18-Carat Gold
- 10 grams: ₹63,900 (up from ₹63,040, an increase of ₹860).
- 100 grams: ₹6,39,000 (up from ₹6,30,400, an increase of ₹8,600).
Silver Prices Decline in India BH
In contrast to gold, silver prices saw a slight dip on Tuesday:
- 1 kilogram: ₹98,500 (down from ₹99,500, a decline of ₹1,000).
- 10 grams: ₹985 (down from ₹995).
- 100 grams: ₹9,850 (down from ₹9,950).
MCX Gold Outlook: Bullish Momentum Continues
Gold maintained its upward momentum for the fourth consecutive session on the Multi Commodity Exchange (MCX), forming a bullish pattern on the daily chart.
Key Levels to Watch:
- Resistance: If MCX Gold breaks above ₹83,500, it could rise further towards ₹83,800 – ₹84,000.
- Support: Levels are at ₹82,250 – ₹81,800. A breakdown below ₹81,800 could lead to profit booking, pushing prices towards ₹83,000 – ₹82,700.
Analyst Advice: Traders are advised to maintain tight stop losses, as gold is trading in a volatile zone.
Gold & Silver Price Outlook for the Day
On international exchanges, gold and silver prices remained steady. According to Nirmal Bang Securities Pvt. Ltd., precious metals are expected to trade range-bound to higher for the day.
Factors Driving Demand:
- Global Trade Tensions: Uncertainty due to tariff threats and trade disputes has increased demand for safe-haven assets like gold.
- Economic Uncertainty: Investors are turning to gold as a hedge against inflation and market volatility.
Key Takeaways for Investors
- Gold: Continues its record-breaking rally, with strong bullish momentum. Investors should monitor key resistance and support levels for strategic trading decisions.
- Silver: Experienced a slight decline but remains an important asset to watch in the precious metals market.