Gold Rate In India Today Climbs Back To Record High: 24K/100g Gold Zooms Rs. 29,400; Tariff War Shake Markets

Gold prices in India today saw a mammoth surge, reaching an all-time high. The 24-carat gold rate in India jumped by Rs. 29,400 per 100 grams due to strong demand amid global uncertainty. This sharp rise in gold rate in India comes as the U.S. increased tariffs on China, escalating the ongoing U.S.-China trade war and sparking fears among investors worldwide.

On Thursday, spot gold rates rose over 1% in the international market as investors rushed towards the safe-haven asset amid the intensifying tariff war. The aggressive trade move by the United States has led to market volatility and growing demand for precious metals like gold. Experts believe that the upward momentum in the gold rate today in India is likely to continue if the trade tensions persist.

Gold Rate in India Today

As of April 10th, Thursday, 24-carat gold rates in India surged by Rs. 2,940 per 10 grams to cost Rs. 93,380. While the 22-carat gold price in India jumped massively by Rs. 2,700 per 10 grams, to cost Rs. 85,600. In a similar manner, the 18-carat gold rates spiked by Rs. 2,210 to retail at Rs. 70,040 per 10 grams.

Similarly, 100 grams of 24-carat gold rates now retail at Rs 9,33,800, and the 22-carat gold rates per 100 grams now cost Rs 8,56,000.

Silver prices in India today

Silver rates in India today shine. As bright as gold. On the 10th of April, 1 kg of silver in India cost Rs. 95,000 after gaining Rs. 2000. While 100g of silver rates in India retails at Rs 9,500, which jumped by Rs 200.

City-Wise Gold Rates: Latest 22-Carat & 24-Carat Prices Across India

The latest gold prices for 22-carat and 24-carat gold in major Indian cities are similar to national gold prices today.

Gold Price in Chennai

The current 24-carat gold price in Chennai is Rs. 93,380 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 85,600 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 85,600 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 93,380 per 10 grams.

Gold in Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 85,600 per 10 grams, while the 24K gold price in Hyderabad is Rs. 93,380 per 10 grams.

Gold Price in Mumbai

The 22-carat gold rate in Mumbai is Rs. 85,680 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 93,380 per 10 grams.

MCX Gold Price and Silver Price

Currently, gold futures prices on the MCX, which are going to mature on June 5th, are trading at Rs. 89,724, jumping 0.09%. Similarly, silver futures prices set to mature on May 5th, 2025, are trading at Rs 91,600 with a rise of 3.22%.

Spot Gold Price and Spot Silver Rate

According to the latest report from Reuters, spot gold was up 1.2% at $3,119.18 an ounce, as of 0300 GMT. In the previous session, bullion recorded its best day since October 2023. U.S. gold futures climbed 1.8% to $3,135.50. Spot silver firmed 0.2% to $31.08 an ounce.

"COMEX Gold Futures surged past $3,135/oz on Thursday, extending a 3% rally from the prior session as safe-haven demand intensified amid escalating US-China trade tensions." as per Kotak Securities.

Gold Prices Target and Outlook This Week

"Trump's abrupt decision to raise tariffs on Chinese imports to 125%, effective immediately, came in response to China's move to increase duties on US goods to 84%. This tit-for-tat escalation overshadowed a broader easing of trade tensions, where the US had recently reduced tariffs to 10% for 90 days to facilitate negotiations with other key partners. Meanwhile, investor sentiment was shaped by the latest FOMC minutes, revealing widespread concern over persistent inflation and decelerating economic growth.

Market participants now await the upcoming US CPI and PPI data due Friday for further cues on the Federal Reserve's rate path. Supporting the bullish gold outlook, the WGC reported robust inflows of 226.5 metric tonnes-valued at $21.1 billion-into gold-backed ETFs during Q1," as per the Kotak Securities report.