Gold Rate Today, April 16: Record Rally Before Akshya Tritiya; 24K, 22K, Prices in Chennai, Hyderabad, Mumbai

Gold prices today jumped for the third time this week, as festive season demand provided support to the yellow metal. In the last week, gold rates in major Indian metropolitan cities like Chennai, Hyderabad & Mumbai have risen sharply, jumping above 15,66,600 per 100 grams of 24-carat gold. Since Akshaya Tritiya 2026 is just three days away, the rise in demand for jewellery has pushed the gold rate in India toward monthly highs.

City-Wise Gold Rates Today, April 16

Here's the latest city-wise update on 22-carat and 24-carat gold rates as of April 16:

Gold rate in Hyderbad today

The 24K gold price in Hyderabad has jumped substantially by Rs. 220 and now costs Rs. 1,55,570 per 10 grams. The standard gold price in Hyderabad today spiked by Rs. 200, bringing the price up to Rs 1,42,600 per 10 grams. Even 18-carat gold prices jumped by Rs.170 per 10 grams, now priced at Rs. 1,16,680

Gold Prices in Chennai Today

In contrast to Bengaluru, the gold rate in Chennai experienced a bigger jump on Thursday. The 24-carat gold rate in Chennai rallied by Rs. 440 per 10 grams to cost Rs. 1,56,660 per 10 grams, while the 22-carat gold rate in Chennai jumped by Rs. 400 and now retails at Rs. 1,43,600 per 10 grams.

Gold Prices in Mumbai Today

Today's gold rate in Mumbai saw a slight uptick across all purities.The 24 carat gold rate today in Mumbai stands at Rs. 1,55,570 per 10 grams, up by Rs. 220 from yesterday's rate. Similarly, the 22 carat gold price in Mumbai today is Rs. 1,42,600 per 10 gram, gaining Rs. 200.The 18 carat gold rate in Mumbai today has also increased slightly to Rs. 1,16,680 per 10 gram, up by Rs. 170.

Gold Price / Silver Price Outlook Ahead

As per Nirmal Bang Securities report dated April 16 "Gold prices are expected to rise. One can buy at 153600 with a stop loss of 152500. Prices can test 155000-156500."

Meanwhile, "Silver prices are expected to rise. Traders can buy at 252000 with a stop loss of 247000 for the target at 258000-263000."

MCX Gold and Silver Futures Update

On the Multi Commodity Exchange (MCX), gold futures slated to mature on June 5, 2026 are trading in green this morning at Rs 1,54,911 after rising by 0.63%. Similarly, silver futures, which are set to expire on May 5th , 2026, rose by 1.22 % and are trading at Rs 2,54,806 at the time of writing on April 16th.

Silver Rate Today In Chennai, hyderabad & Mumbai

The silver rate today in all three cities remained stable at Rs. 2,70,000 per kg . While 100g of silver rates in India cost Rs 27,000. The white metal is stable now after rising sharply by Rs. 15,000 per kg on Wednesday because of a spike in demand due to Akhshya Tritiya.

Expert Analysis On Gold & Silver Price

"Gold rose above $4,800 per ounce, supported by easing geopolitical tensions, softer oil and dollar, and reduced hawkish expectations from the Federal Reserve," said Abhishek M Pelu, Research Analyst, Way to Wealth Research
On the technical front, MCX Gold witnessed strong price action in yesterday's session. It is picking up momentum on the daily chart. Sustained strength could lead to a breakout above the falling resistance line, inviting further buying. The outlook for the day remains bullish. Currently, intraday support is seen at 152,700, while resistance is placed at 155,600. Sustained strength above 155,600 could attract further buying, potentially taking prices towards the 157,400 level." They further added.

Spot Gold Prices + Spot Silver Price Today

As per Trading Economics, Gold climbed back above $4,800 an ounce on Thursday, recovering from the prior session's losses as investors assessed the outlook for renewed negotiations and a potential long-term peace deal between the US and Iran that could help ease inflation pressures. "

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.