Gold Rate In India Breaks Record Once More: 24K, 22K,18K Gold Prices Today Jump After A Short Correction

Gold prices in India today Created a new record crossing Rs. 96,000 per 10 grams of 24-carat yellow metal. After a brief period of correction, gold rates in India are back to record high levels. In the last two days gold slipped by around 4,900 per 100 grams, which came as a big relief for gold buyers; however, this decline was short-lived as the gold price is surging today.

In the international market as well, gold prices reached an all time high as the US dollar index slipped to its lowest so far this year, currently at 99.65, falling to a 52-week low level. This decline in the US dollar index is fuelling a rise in gold prices, along with the ongoing US-China trade war, which shows no signs of easing in the near future.

Gold Rate in India Today

On 16th April, Wednesday, the 24-carat gold rates in India spiked by Rs. 990 per 10 grams to reach Rs 96,170 per 10 grams. Similarly, the 22-carat gold price in India surged by Rs. 950 per 10 grams, to retail at Rs. 88,150. Just like that, the 18-carat gold rates jumped by Rs 780 to now cost Rs 72,130 per 10 grams.

In a similar manner, the 100 grams of 24-carat gold rate stands at Rs 9,61,700, and the 22-carat gold rate is currently at Rs 8,81,500 per 100 grams of gold.

Silver prices in India today

Silver rates in India on Wednesday jumped after falling slightly in the previous two days. 1 kg of silver in India rose Rs. 200 to cost Rs. 1,00,000. While 100g of silver rates in India retails at Rs. 10,000, which increased by Rs. 20

Today's 22-Carat & 24-Carat Gold Prices Across India: City-Wise

The current gold prices for 22-carat gold and 24-carat gold in major Indian metropolitans are similar to Indian gold prices today.

MCX Gold Price and Silver Price

Gold prices on the MCX (Multi Commodity Exchange) also scaled record peak levels. Currently, gold futures prices due to mature on June 5th, 2025, stand at Rs.94,790 after spiking by 1.43%. Silver futures, which are maturing on May 5, 2025, also surged after a decline seen yesterday, currently trading 0.31% lower at Rs 95,065.

Spot Gold Price and Spot Silver Rate

According to a latest report by Reuters, the spot gold price rose 1.7% to USD 3,282.88 an ounce as of 04:57 GMT. It hit a fresh high of USD 3,290.10 per ounce earlier in the session. Additionally, U.S. gold futures gained 1.8% to USD 3,299.60. Meanwhile, spot silver added 0.5% to $32.45 an ounce."

Market Outlook for Gold Prices in India

A commodity report from the India Bullion and Jewellers Association Ltd stated that "the precious metal has rallied by more than a fifth this year as the worsening trade war has damped prospects for global growth, eroded trust in usually safe US assets and roiled financial markets. Leading banks remain optimistic about bullion's prospects over the coming quarters as investors add to holdings in gold-backed exchange-traded funds and central banks continue to accumulate the metal. Goldman Sachs Group Inc. has forecast that prices will rally to $4,000 an ounce by mid-2026. Gold may also find support from strong demand in China, the world's biggest bullion market.

The report further stated, "We expect precious metal prices on Indian bourses to trade higher for the day, as gold prices rose to a record high as US President Donald Trump ordered a probe that could open up a new front in the global war."

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