Gold Rate Today: The price of 24 carat gold in Delhi and Mumbai on January 30, before the budget 2025, once again crossed a level of Rs 83000 per 10 grams. At the same time, the price of 22 carat went beyond the level of Rs 76000 per 10 grams. Earlier on January 29, due to bumper procurement, the price of 24 carat gold in Delhi’s bullion market rose by Rs 910 to Rs 83,750 per 10 grams on a record high so far.
Gold of 99.5 percent purity i.e. 22 carats also reached a new level of Rs 910 to Rs 83,350 per 10 grams. Earlier on January 24, gold prices in Delhi’s bullion market crossed a psychological level of Rs 83,000 per 10 grams. Gold of 99.9 percent purity reached Rs 83,100 per 10 grams and 99.5 percent purity gold reached Rs 82,700 per 10 grams.
Gold future also on new all time high
Talking about futures trading, Gold Future also reached record high due to increasing deal from the bookies due to strong spot demand in the day on 30 January. In the Multi Commodity Exchange, the April delivery gold contract rose by Rs 214 to Rs 81,088 per 10 grams. Globally, the price of gold future in New York rose 0.09 percent to $ 2,761.71 an ounce.
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Why sleep climbing
Analysts believe that investors are giving preference to investment in gold as a safe investment. The important reason behind this is the uncertainty arising from new high tariffs and other policies that can be implemented by US President Donald Trump. The market is now focused on the report of the American Personal Consumption Expenditure (PCE) Price Index. It will be released on Friday.
How is the gold outlook for the future
The US central bank Federal Reserve has kept the benchmark interest rates stable at 4.25–4.5% at the January meeting. After this decision, the future of gold remains uncertain. Federal Reserve Chairman Jerome Powell indicated that there would be no hurry to cut rates until a clear trend in inflation and jobs figures. Explain that high interest rates increase the yield on bonds and it reduces the appeal of gold. At the same time, binds become less attractive due to cuts in interest rates, so investors turn to gold.
ANZ’s commodity strategist Sony Kumari believes that investment demand should be increased to carry gold prices to a level of 2,900 or $ 3,000. The direction of global prices of gold will depend largely on policy changes, inflation figures and geopolitical developments. Geophysical risk, especially tariff concerns, continue to affect the market.
The White House has recently reiterated its plan to put heavy tariffs on Mexico and Canada, while China is yet to be decided on tariffs. These developments have increased the delivery of gold in the US, as investors are looking for safe haveon amid tariff uncertainties. Along with domestic factors, global factors also have an important role in fixing gold prices inside India.
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