Gold Rate In India Today Creates A Fresh Record, March 28: 22K/100g Surges Rs.10,500; Silver Shines Bright

Gold prices in India today spiked massively, crossing record levels once again on Friday. This marks the second consecutive rise in gold rates after the week started on a bearish note, with prices falling sharply, bringing relief to retail buyers.
The sudden surge in gold rates in India is due to the U.S. tariff imposition set to take effect from April 2, which has intensified global trade war fears, driving investors toward safe-haven assets like gold. Market participants are now closely watching the U.S. consumption data, which is expected to provide fresh insights into the economy, potentially pushing gold prices even higher.

Gold Rate in India Today

On Friday March 28, the 24-carat gold rate in India jumped to touch a record high of Rs. 1,140 per 10 grams to retail at Rs. 90,980. The 22-carat gold rate in India now costs Rs. 83,400 per 10 grams, which surged by Rs. 1,050. Likewise, the 18-carat gold rate in India spiked Rs. 860 per 10 grams to retail at Rs. 68,280.

Similarly, the bulkier quantities of gold, the 100 grams of 24-carat gold rates, now retail at Rs. 9,09,800, which jumped by Rs. 11,400. The 22-carat gold rate is priced at Rs. 8,34,000 per 100 grams, which surged by Rs. 10,500.

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Silver prices in India today

Silver rates in India today jumped massively after showing no major movement in the last. 1 kg of silver in India costs Rs. 1,05,000, which rose by Rs. 3000. While 100g of silver rates in India retails at Rs. 10,500, surging by Rs. 300.

Gold prices in Chennai, Bengaluru, and Hyderabad

Gold prices surged across the country today. Below are the gold rates in the metropoliton cities of India:

10 grammes of 24-carat gold prices in Chennai stand at Rs. 90,980 per 10 grammes, while the 22-carat gold prices in Chennai cost Rs. 83,400 per 10 grammes.

Likewise, gold rates in Bangalore for 22 carats are now at Rs. 83,400 per 10 grams, while the 24-carat gold price in Bangalore is now at Rs. 90,980 per 10 grams of yellow metal.

Gold prices in Hyderabad are also mirroring the gold rates in India today, where the price of 22-carat gold retails at Rs. 83,400 per 10 grams. A 24-carat gold retails at Rs. 90,980 per 10 grams.

MCX Gold and Silver Futures Prices Today

Gold futures prices on the MCX set to mature on April 4, 2025, jumped remarkably and are trading at Rs. 88,950, surging by 0.64% at the time of writing. Similarly, silver futures prices set to mature on May 5, 2025, traded higher at Rs. Rs.1,01,604 after rising by 0.29% at the time of writing.

Outlook "MCX Gold April is expected to rise towards the ₹89,200 level as long as it holds the support near the ₹88,000 level. • MCX Silver May is expected to rise further towards the ₹102,500 level as long as it trades above the ₹99,500 level. Above, ₹102,500; it would open the doors towards ₹104,500." as per the ICICI Direct Research Report.

Spot Gold Price and Spot Silver Rate

As per a Reuters report, "spot gold climbed 0.4% to $3,030.47 per ounce as of 0247 GMT, while U.S. gold futures advanced 0.5% to $3,036.00. Meanwhile, spot silver edged down 0.1% to $33.69 per ounce. Spot gold prices surged on Thursday, driven by escalating global trade tensions following the U.S. auto tariff announcement, ahead of the April 2 deadline for reciprocal tariffs from the world's largest economy."

Outlook For Gold Prices Ahead

"Spot gold prices ended on a positive note, gaining more than 1%, while silver prices rose more than 2 % yesterday on a weak dollar. Further, gold prices hit a new record high on safe haven buying in response to escalating global trade tensions following US President Donald Trump's announcement of new auto tariffs. Gold is expected to move to a higher $3075 level on expectation of weakness in the dollar and US treasury yields. Further, escalating global trade tension and weaker equity markets after US President Donald Trump's new auto tariff policies would increase the safe haven appeal of the yellow metal. Meanwhile, all focus will remain on key US core PCE price index data, which could give further clarity on the Fed's interest rate trajectory. Any surprise gain in the number would restrict the upside move in the bullions. • On the data front, fresh additions of OI in OTM put strikes indicate gold will hold strong support near the $3025 level, and on the upside, immediate resistance exists near the $3075 level. A move above $3075 would rise further towards $3100." As per the ICICI Direct research report.

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