Gold Rates In India Nears Peak Ahead Of Makar Sankranti, Up Rs 24,600 In 2 Days; 24K, 22K, 18K Gold Outlook

Gold rates in India climbed sharply for the second consecutive day on Saturday, January 10. 100 grams gold price skyrocketed by Rs 24,600 and 10 grams surged by Rs 2,460 in 24 carats in two days. With that, precious metals is nearing its record high levels. The performance also comes ahead of major festive season with Makar Sankranti, Pongal, and Magh Bihu among others. Meanwhile, silver rates in India rebounded after falling for two-days straight. In the coming days, Gold and silver can trade in a range of 125000-142000 and 232000- 255000 levels respectively.

Gold Rates In India:

On Saturday, 24 carat gold price rose by Rs 1,150 to Rs 1,40,460 per 10 grams, and was up by Rs 11,500 to Rs 14,04,600 per 100 grams. The cheapest 24 carat is of Rs 14,046 per 1 gram, which edged higher by Rs 115.

Further, 22 carat gold price stood at Rs 1,28,750 per 10 grams and at Rs 12,87,500 per 100 grams, registering an upside of Rs 1,050 and Rs 10,500, respectively. The cheapest 22 carat is of Rs 12,875 peer 1 gram, up by Rs 105.

Additionally, 18 carat gold price climbed by Rs 860 to Rs 1,05,340 per 10 grams, and was up by Rs 8,600 to Rs 10,53,400 per 100 grams. The cheapest 18 carat stood at Rs 10,534, which is up by Rs 86 on January 10.

So far in January month, gold prices are up by 4%.

Silver Rates In India:

Silver rebounded after falling by Rs 8,000 from January 9th to 8th. On January 10th, 1Kg silver price stood at Rs 2.60 lakh, recording an upside of Rs 11,000. The prices of 100 grams and 10 grams silver is at Rs 2,600 and Rs 26,000 respectively.

Despite volatility, silver rates are up by over 9.2% in January so far.

MCX Gold Price + MCX Silver Price

After closing bell on January 9th, MCX gold with February 2026 expiry, is at Rs 1,38,875 per 10 grams, up by Rs 56 or 0.04%. Meanwhile, MCX silver price with February 2026 expiry, stood at Rs 2,54,481 per 1Kg, registering a strong rally of Rs 8,494 or 3.45%.

Gold & Silver Price Outlook:

According to Kaynat Chainwala, AVP Commodity Research, Kotak Securities, US President Trump is considering imposing steep tariffs, potentially as high as 500%, on countries that continue to buy Russian oil. Senator Lindsey Graham said the sanctions would give Trump leverage over major buyers such as China, India, and Brazil, pressuring them to halt purchases of discounted Russian crude that helps finance the war in Ukraine.

Given the potential impact on key Russian energy customers, the move could escalate US-China trade tensions, supporting safe-haven demand for gold and silver, he said.

However, the analyst added, investor attention remains fixated on a possible Supreme Court ruling on Trump tariffs expected later today. If the court rule against the tariffs, concerns over an intensifying trade war could ease, potentially limiting further upside in gold and silver prices in the near term.

In the coming week, Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, "Buying interest at lower levels helped prices stabilise, though volatility remains elevated. In the near term, MCX gold is expected to trade in a volatile range between Rs 1,36,500 and Rs 1,39,000 as global cues and upcoming U.S. data continue to guide sentiment."

Finally, Deveya Gaglani, Senior Research Analyst - Commodities, Axis Securities said, "renewed geopolitical tensions provided support at the lower levels, allowing prices to recover and settle nearly flat around $4,471. Looking ahead, today's U.S. Non-Farm Payroll data could trigger further volatility, particularly keeping prices sensitive near the lower range. We expect Gold prices to trade on a positive for this month. In MCX, short term support zone is placed around the 134000 level. Breakdown below the mentioned level may drag prices lower towards 130,0000 level."

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