Gold and Silver Price Updates: January 2, 2025
Gold prices today stood at ₹77,120 per 10 grams, as per the India Bullion Association at 7:05 a.m. The yellow metal experienced a slight dip but remained steady following New Year’s Day. Experts anticipate gains in gold prices throughout 2025, driven by both global and domestic factors.
Gold Price Trends in 2024
During 2024, gold prices in India exhibited a consistent upward trend, with periodic short-term volatility. The lowest price recorded last year was ₹61,590, while the highest was ₹82,400 on October 30, fueled by festive demand, according to the India Bullion Association.
Expert Insights
Colin Shah, Managing Director of Kama Jewelry, stated:
“Investment demand for gold is expected to remain strong. However, the impending inauspicious period for gold purchases may temporarily impact jewellery demand.”
Anuj Gupta, Head of Commodities and Currency at HDFC Securities, shared a positive outlook, advising investors to take long positions in gold futures:
“We recommend buying gold futures around ₹74,000–₹74,500, with an upside target of ₹79,900–₹82,000, and maintaining a stop loss below ₹70,000.”
Futures and Global Rates
Gold futures for February 5, 2025, were priced at ₹76,893 per 10 grams on the Multi Commodity Exchange (MCX). Globally, gold surged past the $2,610 ceiling, reaching $2,630 per ounce, according to the World Gold Council.
Silver Price Updates
Silver prices stood at ₹87,610 per kilogram as of 7:05 a.m., according to the India Bullion Association. Futures prices for February 5, 2025, were listed at ₹87,550 on the MCX.
Both gold and silver continue to be closely watched by investors as key commodities, with experts emphasizing their long-term potential despite short-term fluctuations.
