Gold Rates In India Today (April 10) Climbs By Rs 15,200 After Nearly Rs 23,500 Drop; Silver Rates Jump; Why?

Gold rates in India jumped sharply on April 10 as crude oil prices and the dollar softened significantly. Bullion in the global market is on track to end its third consecutive weekly gains. Meanwhile, the biggest jump for the day is seen in the 24 carat gold price of 100 grams by Rs 15,200 compared to the nearly Rs 23,500 crash yesterday. The yellow metals are higher across the carats. Similarly, silver rates in India also jumped to the Rs 2.60 lakh mark.

Gold Rates In India:

24 Carat Gold Rates In India Today:

24 carat gold price surged by Rs 15,200 to Rs 1,53,000 per 100 grams, while 10 grams gold is higher by Rs 1,520 to Rs 1,53,000. Furthermore, 8 grams gold price rose by Rs 1,216 to Rs 1,22,400 and 1 gram gold is up by Rs 152 to Rs 15,300.

22 Carat Gold Rates In India Today:

In case of 22 carat, 10 grams gold rose by Rs 1,400 to Rs 1,40,250 and 100 grams gold jumped by Rs 14,000 to Rs 14,02,500. Also, 8 grams gold advanced by Rs 1,120 to Rs 1,12,200 and 1 gram gold is up by Rs 140 to Rs 14,025.

18 Carat Gold Rates In India Today:

Under the 18 carat, 10 grams gold price zoomed by Rs 1,140 to Rs 1,14,750 and 100 grams gold price climbed by Rs 11,400 to Rs 11,47,500. Lastly, 8 grams gold is up by Rs 912 to Rs 91,800 and 1 gram gold is higher by Rs 114 to Rs 11,475.

What Is Impacting Gold Prices In India?

As per Ponmudi R, CEO of Enrich Money, safe-haven demand remains present but is not yet strong enough to drive a decisive breakout. The expert added that the temporary US-Iran ceasefire appears to be acting more as a stabilising influence on sentiment than a decisive catalyst. Investors largely view it as a pause rather than a resolution, which is reflected in the absence of aggressive buying and a preference for lighter, more tactical positioning.

Gold Prices In India Outlook:

Explaining in detail, Ross Maxwell, Global Strategy Operations Lead, VT Markets said gold prices often react to increases or decreases in geopolitical risk, so a credible US-Iran ceasefire would reduce safe-haven demand.

When tensions ease, investors tend to rotate toward riskier assets like equities, which can put mild downward pressure on gold. However, the current ceasefire is only a short-term, temporary ceasefire, with claims from both sides that it has been violated already, amid confusion over whether Lebanon is included in the ceasefire agreement. It is very fragile and the markets could doubt its durability, meaning gold could remain supported by cautious investors.

"A hotter-than-expected inflation reading could reinforce expectations that rates will stay higher for longer or even prompt further tightening, which typically weighs on gold because higher yields increase the opportunity cost of holding non-yielding assets. The impact of higher energy prices are still yet to be seen, so any indications this is starting to feed through into the data could lead to action from the FED. However, if the reading is cooler than expected this would ease pressure on the FED and potentially support gold prices," Maxwell added.

In the short term, Maxwell believes that gold is likely to remain range-bound, balancing geopolitical developments and monetary policy signals. If inflation surprises on the upside and the ceasefire hold with geopolitical risks fading, prices could drift lower. If the ceasefire breaks or there is no permanent solution and inflation cools, gold may edge higher. We can expect to see continued short-term volatility rather than a strong directional move in the near term, until we see some clarity and a more stable outlook.

Silver Rates In India:

Silver rates also surged on April 10, however, the movement was lackluster. Also, silver has been holding around Rs 2.50 to Rs 2.60 lakh mark for quite sometime now. 1Kg silver rate is at Rs 2.60 lakh on Friday, with an upside of Rs 5,000. Also, 100 grams and 10 grams silver prices climbed by Rs 500 and Rs 50 to Rs 26,000 and Rs 2,600. The 8 grams silver rate stood at Rs 2,080 with Rs 40 upside and 1 gram silver inched up by Rs 5 to Rs 260.

"Silver is trading above $75, but the tone is slightly weak. Industrial support is there, but price action lacks conviction. A sustained move above $76 can push prices towards $77-$78. On the downside, a break below $75 can accelerate selling towards $72-$70, with deeper support at $68-$66," said Ponmudi.

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