Gold Rate in India Now Very Close To Rs 1,00,000 Mark; Big Jump in 24K, 22K,18K Gold on 17 April

The sharp rally in gold prices in India is ongoing with no signs of stopping as the global trade war is intensifying. In just two days gold rates in India have become Rs. 20,130 costlier per 100 grams of yellow metal. Retail buyers took a sigh of relief earlier this week when the gold prices slipped, but the bull run began once again. This huge spike in the gold rate is due to multiple factors, the major one being the US-China trade war, where both economies are slapping back-to-back tariffs on each other. The uncertainty in the market has caused the US dollar index to decline to a 3-year low, along with a dip in the treasury yields, which made gold more preferential for buyers.

Internationally spot gold prices fell slightly after scaling record peaks as investors jumped in to book profits. Currently, Spot gold is above USD 3300 per ounce as per Reuters.

Gold Rate in India

As of 17th April Thursday, the 24-carat gold rate in India jumped by Rs. 1,140 per 10 grams to cost Rs 97,310 per 10 grams. The 22-carat gold price in India rallied by Rs. 1,050 per 10 grams o reach Rs. 89,200. In a similar manner, the 18-carat gold rates spiked by Rs 860 per 10 grams to cost Rs 72,990.

Just like that, the higher weight quantities of gold also experienced the price hike. The 100 grams of 24-carat gold rate stands at Rs 99,73,100,and the 22-carat gold rate is currently at Rs 8,92,000 per 100 grams of gold.

Silver Rates in India Today

Silver prices in India on Thursday maintained stability after reaching the Rs. 1,00,000 mark As of 17th April, 1kg of silver in India cost Rs. 1,00,000. While 100g of silver rates in India retails at Rs. 10,000.

Latest 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.

Gold Price in Chennai

As of April 15, the 24-carat gold price in Chennai stands at Rs. 97,310 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 89,200 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 89,200 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 97,310 per 10 grams.

Gold in Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 89,200 per 10 grams, while the 24K gold price in Hyderabad is Rs. 97,310 per 10 grams.

Gold Price in Mumbai

The 22-carat gold rate in Mumbai is Rs. 89,200 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 97,310 per 10 grams.

MCX Gold Price and Silver Price

Gold prices on the MCX (Multi Commodity Exchange) also touched record high levels. Currently, gold futures prices due to mature on June 5th, 2025, stand at Rs.95,710 after spiking by 0.05%. Silver futures, which are maturing on May 5, 2025, slipped slightly today, currently trading 1.02% down at Rs 95,266.

Spot Gold Price and Spot Silver Rate

"Spot gold fell 0.1% to $3,338.81 an ounce, as of 0436 GMT, after touching a record high of $3,357.40 earlier in the session," according to a recent Reuters story. This week, the price of gold has increased by over 3%. At $3,351, U.S. gold futures increased 0.1%. The price of spot silver fell 0.6% to $32.54 an ounce."

Market Outlook for Gold Prices in India

ICICI's daily commodity outlook mentioned, "Spot gold gained the most in a single day since April 2020 and rallied to cross the key psychological mark at $3300 amid a weaker dollar and safe-haven buying. Escalating trade tension has boosted safe-haven bids for precious metals. The US president launched an investigation into the need for tariffs on critical minerals. A combination of heightened uncertainty around tariffs, inflation fears and increasing bets of lower rates set the tone for a rally in the bullion."

As for the outlook for gold prices, the report said, "Gold is expected to hold its gains amid weakness in the dollar and safe haven buying. Escalating trade tension between the US and China would likely increase safe-haven bids. Further, the most likely chance of a rate cut by the ECB would provide support to the yellow metal. The broader trend still remains positive amid trade war uncertainty and increasing inflows into the bullions. But profit booking at higher levels could bring some correction in gold prices."

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