Gold and Silver price on January 17: Gold trades at over 2-month high on rate cut hopes

Gold traded at more than two-month high levels in major Indian cities on Friday, January 17, following renewed hopes of two rate cuts in 2025 by the US Federal Reserve. In early trade, the 24K gold moved up by ₹10 to ₹80,630 per 10 grams.

Gold prices rose by ₹540 to ₹80,620 per 10 grams on Thursday as the precious metal held near one-month highs in global markets. Benign US inflation data have boosted hopes of two rate cuts by the US Federal Reserve, which supported the precious metal. Spot gold rose by 0.03% to $2,715 an ounce in early Asian trade.

Gold Price Today in India (January 17, 2024)

In Delhi markets, 24K gold prices gained ₹10 to trade at ₹80,780 per 10 grams and 22K gold at ₹74,060 per 10 grams. The 24K Gold in Mumbai increased by ₹10 to ₹80,630 per 10 grams and 22K gold to ₹73,910 per 10 grams.

Gold Price Today in Major Cities:

Silver Price Today in India (January 17, 2025)

Silver prices rose by ₹100 to ₹95,600 per kg in the early session on fresh demand from industrial units and coin makers. Silver traded above one-month high levels in global markets which bolstered buying in the white metal.

Silver prices spurted by ₹1,900 to ₹95,500 per kg in major Indian cities on Thursday. A decline in the US dollar also boosted the white metal’s appeal. Spot silver was flat at $30.79 an ounce in early Asian trade.

Silver Price Today in Major Cities:

Comparison of Gold and Silver Prices This Week

Gold prices rose for the third day on Friday to trade over two-month highs following growing hopes of more rate cuts by the US Fed. Firm global prices also supported the metal.

Silver prices have also advanced for the second day on increased local demand and a decline in the US dollar.

Here’s a comparison of gold and silver prices from earlier this week: