Gold Rate In India Rises Just Before Akshaya Tritiya: Check 24K, 22K, 18K Rates, April 29; Will Prices Drop?

Gold prices in India jumped today for the first time after falling for four consecutive sessions. The rise in gold rates in India comes as demand surges ahead of Akshaya Tritiya, a major Hindu festival which is considered highly auspicious for buying gold and silver. Traditionally, buying precious metals during Akshaya Tritiya is believed to bring good luck and prosperity.

The drop in gold prices in the last few days had brought some relief to buyers, but with the fresh rise in yellow metal rates, many now feel the burden again.

In contrast, spot gold prices in the international market slipped by 1% as the US Dollar Index rebounded slightly. The cooling tensions in the US-China trade war have also eased global gold demand, contributing to the decline in international gold prices.

In a similar manner, the 100 grams of 24-carat gold rates now retail at Rs 9,79,700, and the 22-carat gold rates per 100 grams now cost Rs 8,98,000.

Gold Prices Target

"Gold prices are expected to rise. Traders can buy at Rs. 95300 with a stop loss of 94900 for the target at Rs. 95800-96200." as per a Nirmal Bang report.

"Gold is expected to face the hurdle near USD 3350 and move lower towards USD 3275 per ounce amid growing optimism over trade deals between the US and other major trading nations. But no clarity on trade negotiations between the US and China could provide some support to the bullions." as per the ICICI Securities commodity report.

Silver prices in India today

Silver rates in India today maintained stability after the decline seen on the previous day. On the 29th of April, 1 kg of silver in India cost Rs 1,00,500. While 100g of silver rates in India retails at Rs 10,050.

MCX Gold and Silver Prices

Gold futures prices this morning on the Multi Commodity Exchange were trading in the red at around 11:20 am. Gold futures prices on the MCX, which are going to mature on June 5th, are trading at Rs 95,340 with a decline of 0.71%. Similarly, silver futures prices set to mature on May 5th, 2025, are trading at Rs 96,108, which slipped by 0.37% on Tuesday.

Spot Gold Price and Spot Silver Rate

According to the latest Reuters report, "Spot gold was down 0.8% at $3,314.99 an ounce, as of 0425 GMT. U.S. gold futures lost 0.7% to $3,325.10. Meanwhile, spot silver was down 0.5% at $32.98 an ounce."

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

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