Gold Rates In India Today (April 29) Rises After Over Rs 31,000 Crash In 2 Days; Silver Rates Flat For 4th Day

Gold rates in India halted their two consecutive days losing streak and surged on April 29th. The 24 carat gold price climbed by Rs 4,400 in 100 grams and up by Rs 440 in 10 grams after falling by Rs 31,100 and Rs 3,110 in past two days. Similarly, 22 carat and 18 carat gold prices climbed as well. On the other hand, silver rates in India are flat for the fourth day in a row. This performance is steadier compared to volatile market conditions, where spot gold is trading below $4,600 mark and MCX gold fell under Rs 1.50 lakh per 10 grams.

In the latest development, Iran has called US to remove their naval blockade of Strait of Hormuz, while the negotiation talks betwee Iran and US remains uncertain. On the other hand, UAE has declared its exit from OPEC and OPEC+, which is going to impact world oil and gas market.

Moreover, the energy crisis remains heightened and inflationay pressures continues to be elevated. Accordingly, dollar is steady near 99 mark. This is why the upside in precious metals on April 29 is limited and sentiment is cautious.

Gold Rates In India:

24 Carat Gold Rates Today

The 10 grams gold in 24 carat surged by Rs 440 to Rs 1,51,137 on April 29 after falling by Rs 3,110 from April 27-28. Meanwhile, the 100 grams gold rose by Rs 4,400 to Rs 15,13,700 after Rs 31,100 decline in past two days. Meanwhile, 1 gram gold price stood at Rs 15,137, up by Rs 44 on Wednesday. Also, 8 grams gold climbed by Rs 352 to Rs 1,21,096.

22 Carat Gold Rates Today:

On April 29, 22 carat gold price climbed by Rs 4,000 to Rs 13,87,500 per 100 grams, and was up by Rs 400 to Rs 1,38,750 in 10 grams. Further, 8 grams gold edged higher by Rs 320 to Rs 1,11,000 and 1 gram gold is up by Rs 40 to Rs 13,875.

18 Carat Gold Rates Today:

Under the 18 carat gold, 10 grams price is up by Rs 330 to Rs 1,13,530 and 100 grams gold jumped by Rs 3,300 to Rs 11,35,300. Meanwhile, 8 grams gold price rose by Rs 264 to Rs 90,824 and 1 gram gold is up by Rs 33 to Rs 11,353.

What Is Impacting Gold Prices Today?

As per Kedia Advisory, a ack of progress in diplomatic talks has heightened fears of prolonged energy supply disruptions, reinforcing expectations of tighter monetary policy. While gold typically acts as an inflation hedge, rising interest rate expectations reduce its attractiveness as a non-yielding asset. Market participants are closely watching the US Federal Reserve's upcoming policy decision, with expectations of a hold but a potentially hawkish tone. On the demand side, physical markets showed mixed signals.

Further, China's gold imports via Hong Kong rose 3.5% month-on-month to 47.866 metric tons in March, reflecting resilient demand, while total imports surged nearly 25%. The People's Bank of China continued its buying streak for the 17th consecutive month, taking reserves to 74.38 million troy ounces. In India, gold premiums rose to over two-and-a-half-month highs due to tighter supplies, partly caused by delays in import authorisations. However, retail demand remained subdued despite the Akshaya Tritiya festival

Globally, the analytsts here pointed out that Globally, central banks remained net buyers, adding 25 tons in the first two months of the year. Meanwhile, India's gems and jewellery exports declined 3.3% in FY2025/26, with shipments to the US dropping sharply by 45%, reflecting trade disruptions and weaker demand.

Silver Rates In India:

Unlike gold, silver prices in India are unchanged for the fourth day in a row. The current 1Kg silver price stood at Rs 2.60 lakh, while 100 grams and 10 grams silver rates are at Rs 26,000 and Rs 2,600. The 8 grams silver is at Rs 2,080 and 1 gram silver is priced at Rs 260.

What Is Impacting Silver Rates Today?

According to Kedia Advisory, silver is weighed down by rising inflation concerns linked to escalating US-Iran tensions and continued disruption in the Strait of Hormuz. Elevated crude oil prices have strengthened expectations that central banks may maintain a tighter monetary stance for longer. While precious metals typically benefit from inflationary environments, the prospect of higher interest rates reduces the appeal of non-yielding assets like silver. Markets are now closely tracking the US Federal Reserve's policy outlook, with expectations of a pause but a more hawkish tone.

On the macro front, US labor data indicated moderate stability, with private sector job additions averaging 39,250 per week in early April, slightly lower than the previous period, suggesting a gradual cooling in hiring momentum. Meanwhile, China's silver demand remains a key supportive factor. Imports surged to a record 836 metric tonnes in March, nearly three times the historical average, driven by strong retail investment demand and aggressive stockpiling by the photovoltaic (PV) sector ahead of policy changes.

"This robust demand has pushed domestic Chinese silver prices above global benchmarks, encouraging arbitrage-driven inflows," Kedia Advisory note said.

Additionally, silver holdings in London vaults increased by 1.6% to 27,487 tonnes, indicating ample global inventory levels despite strong regional demand.

Gold Rates & Silver Rates Outlook:

Kedia Advisory has given its technical outlook on gold and silver. These are:

Gold Prices: Technically, the market is under fresh selling pressure, with open interest rising by 5.44% to 9,192, indicating new short positions entering the market. Gold is currently supported at 1,48,540, with a break below likely to test 1,47,050 levels. On the upside, resistance is seen at 1,51,660, and a move above could push prices towards 1,53,290 levels.

Silver Prices: Technically, the market is under long liquidation, with open interest sharply declining by -70.9% to 2,251, indicating significant unwinding of existing long positions. Silver is currently finding support at 2,32,620, with a break below potentially testing 2,27,890 levels. On the upside, resistance is seen at 2,41,665, and a move above could push prices towards 2,45,980 levels.

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