Gold prices in India witnessed a sharp increase on Friday, January 17, 2025, following the release of US inflation data that came in line with market expectations. This positive outlook on inflation, coupled with growing anticipation of a rate cut by the US Federal Reserve, buoyed gold prices globally, impacting the Indian market as well.
Here’s a breakdown of the gold price surge in India on January 17, 2025:
- 24K gold prices surged by Rs 5,500 per 100 grams to Rs 8,06,200, and by Rs 550 per 10 grams to Rs 80,620.
- 22K gold prices rose by Rs 5,000 per 100 grams to Rs 7,39,000 and by Rs 500 per 10 grams to Rs 73,900.
- 18K gold prices climbed by Rs 4,100 per 100 grams to Rs 6,04,700 and by Rs 410 per 10 grams to Rs 60,470.
Analysts attribute this rise to several factors:
- Lower US Inflation Data: The release of US inflation data for December 2024, which came in at 2.9% (MoM) as anticipated, instilled confidence in the market.
- Softer Core CPI: The core CPI (MoM) for December 2024, at 0.2% against expectations of 0.3%, provided further support to gold prices.
- Anticipated Rate Cut by Fed: The lower inflation reading strengthened expectations of a potential rate cut by the Federal Reserve in the coming months, which typically benefits gold prices.
Looking ahead, experts believe that the outlook for gold prices in India remains positive. The softening US inflation data and the possibility of a rate cut by the Fed are likely to continue to influence gold prices. Additionally, factors like geopolitical tensions and fluctuations in the Indian rupee can also play a role.
This article provides a snapshot of the gold price surge in India on January 17, 2025, and the key factors driving this increase. It’s important to note that gold prices are subject to change based on market dynamics. Investors are advised to stay updated on economic data and global events that can impact gold prices before making any investment decisions.
FAQs on Today’s Gold Rate in India
The primary driver of the gold price surge was the release of US inflation data, which came in line with market expectations. This, coupled with a softer-than-expected Core CPI, strengthened expectations of a rate cut by the Federal Reserve. These factors typically benefit gold prices.
24K gold: Increased by Rs 5,500 per 100 grams and Rs 550 per 10 grams.
22K gold: Increased by Rs 5,000 per 100 grams and Rs 500 per 10 grams.
18K gold: Increased by Rs 4,100 per 100 grams and Rs 410 per 10 grams.
Several factors can influence gold prices in India, including:
Global economic conditions: US interest rates, inflation, and economic growth.
Geopolitical events: International tensions and conflicts.
Currency fluctuations: The value of the Indian Rupee against the US Dollar.
Domestic demand: Indian festivals and wedding seasons can impact gold demand.
Government policies: Import duties and taxes on gold can affect prices.
Whether it’s a good time to buy gold depends on individual investment goals and risk tolerance. While the recent price surge may seem attractive, it’s crucial to conduct thorough research and consider the long-term outlook for gold prices before making any investment decisions.
You can find the latest gold prices in India on various financial news websites, online platforms of jewelry retailers, and from the Indian Bullion and Jewellers Association (IBJA).
Disclaimer: This information is for general knowledge and educational purposes only and does not constitute financial advice.
