January 11: India Gold, Silver Prices Rebound After 3-Day Slide
India’s gold and silver price today bounced back after a three-day slide, lifting sentiment across bullion. IBJA quoted 24k gold at ₹137,122 per 10g and silver at ₹242,808 per kg, while MCX February gold traded near ₹139,461 and silver around ₹255,353. Renewed safe-haven demand and ETF inflows supported the move. These benchmarks guide Sovereign Gold Bond pricing and influence gold-loan collateral values, so the rebound affects households, traders, and jewelers across India. Here is what changed and how to act today.
What moved prices on January 11
After three down days, buyers returned as safe-haven interest improved and ETF inflows picked up. That lifted spot benchmarks and futures together, aiding the rebound in India’s market. Domestic quotes followed the global tone, while local buying added support. For context on the sharp uptick in rupee terms, see recent coverage from Aaj Tak.
The IBJA gold rate at ₹137,122 per 10g sits below MCX February gold near ₹139,461, a spread of ₹2,339 or about 1.7%. For silver, IBJA at ₹242,808/kg trails MCX near ₹255,353, a spread of ₹12,545 or ~5.2%. Such gaps reflect futures basis, taxes, logistics, and liquidity. Bhaskar reported similar sharp price moves in rupee terms earlier this week.
What it means for buyers and investors
Retail buyers will notice higher ticket sizes today. Many banks value collateral against the IBJA gold rate, so a rise can improve loan eligibility or reduce top-up needs. SGB pricing also references IBJA benchmarks, affecting near-term issue prices and secondary market expectations. Households planning purchases or pledging jewelry should compare store quotes to IBJA to understand making charges and loan-to-value outcomes.
Active traders monitor the MCX gold rate and silver futures for momentum and basis risk. With MCX trading above spot, hedgers should size positions to account for the spread and rollover costs. Use clear stop-loss levels and avoid over-leverage during volatile sessions. Short-term strategies can track IBJA closes for spot cues and the MCX order book for intraday direction.
Near-term outlook and key levels
We are watching IBJA 24k at ₹137,122 per 10g and MCX February gold near ₹139,461 as reference points. For silver, note ₹242,808/kg on IBJA and ₹255,353 on MCX. Sustained closes above these marks signal firm momentum. A dip back below spot references would hint at profit-taking, while a wider futures premium may attract arbitrage-style selling by advanced traders.
Continued ETF inflows and steady safe-haven interest can keep prices supported. A pullback in flows or a calmer risk backdrop could cool gains. Domestic demand, including wedding purchases and jeweler restocking, also matters. Watch MCX open interest, daily IBJA prints, and any tax or duty updates. These drivers will shape India’s gold and silver price today and the weekly trend.
Final Thoughts
India’s bullion rebound is clear: the IBJA gold rate sits at ₹137,122 per 10g and silver at ₹242,808/kg, while MCX futures trade higher at ₹139,461 for gold and ₹255,353 for silver. The spread matters for traders, but it also affects daily decisions for households and jewelers. If you are buying jewelry, compare store quotes against IBJA and keep an eye on making charges. If you use gold loans, recheck loan-to-value as prices rise. For traders, size positions to the futures-spot gap and set strict stops. Monitor ETF flows, IBJA closes, and MCX open interest to gauge the next move in gold and silver price today.
FAQs
How is the IBJA gold rate different from the MCX gold rate?
IBJA captures domestic spot quotations used by banks and jewelers, while MCX is a futures market reflecting expectations and costs like carry and taxes. Futures often trade at a premium to spot. Compare both to understand basis risk if you are hedging or planning a near-term purchase.
Does the SGB issue price depend on IBJA rates?
Yes. The Sovereign Gold Bond issue price references IBJA benchmarks for gold purity. When IBJA rates rise, SGB pricing tends to adjust higher. Check the RBI notification for each tranche and compare with the current IBJA print to see likely pricing and demand impact.
What should I watch to trade gold and silver price today in India?
Track IBJA closing rates for spot direction, MCX price and open interest for momentum, and daily ETF flows for demand signals. Set clear stop-loss levels and account for the futures-spot spread. Avoid over-leverage during spikes and reassess positions if the premium widens or narrows quickly.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
