Huge Jump In Today's Gold Rate In India; 24K Gold Surges by Rs 7100 per 100g; Silver Prices Rise Too

Gold prices in India moved up sharply today for the third day in a row, inching towards Rs 1 Lakh mark again. June 23 was the last time when gold Prices were over 1 lakh. However, it has been fluctuating since then. The Price of 24 karat gold per 10 grams is now available at Rs 99710 after today's rise of Rs 710.

This increase is due to growing concerns about global trade tensions. The demand for gold, a safe investment during uncertain times, went up after U.S. President Donald Trump announced a 35% tariff on Canadian imports starting August 1 and hinted at 15-20% tariffs on most other trade partners.

The international gold rate on Friday increased by around $3,355 per ounce amid escalating global trade tensions. The international gold rates are likely to see any major movement during the week, according to Trading Economics.

Gold Price Today In India:

The price of 24-carat gold in India increased by Rs 710 per 10 grams to Rs 99,710. Similarly, the price of 22-carat gold moved up by Rs 650 to Rs 91,400 per 10 grams. The 18-carat gold rate also rose by Rs 540, now at Rs 74,790 per 10 grams as of Saturday. The 1-gram variant of 24-carat, and 22-carat gold increased by Rs 71 and Rs 65 to cost it at Rs 9,971 and Rs 9,140 while the 1 gram of 18-carat gold moved up by Rs 54 to cost at Rs 7,479.

Meanwhile, the price of 100 grams of 22-carat gold is now Rs 9,14,000 after rising by Rs 6,500. For 24-carat gold, 100 grams now costs Rs 9,97,100, up by Rs 7,100. Also, the 18-carat gold in 100 grams is now available at Rs 7,47,900 up by Rs 5,400.

Silver Rate in India Today:

Silver prices in India went up on Saturday, July 12 as well, following the rise in gold prices. The price of silver increased by Rs 4 to Rs 115 per gram and by Rs 4,000 to Rs 1,15,000 per kilogram. This sharp rise in silver prices, both in India and globally, is mainly due to a jump in industrial demand.

Gold and Silver Futures Prices on MCX:

On the MCX, gold futures with 5 August 2025 expiry closed at Rs 97830 per 10 grams, almost being flat with marginal rise of Rs 12 after touching an intraday high of Rs 98,076 on July 11.

However, Silver futures expiring on September 5, 2025 rose sharply by 3988 points on Friday, July 11 and closed at Rs 1,13,111.

Market Outlook for Gold Prices:

"Gold prices stayed strong with gains on Friday as renewed trade tariff jitters supported bullion.

With the U.S. imposing fresh tariffs on Canada and Brazil, markets have begun pricing in the adverse implications of renewed trade tensions. The resulting uncertainty has once again turned sentiment in favor of gold, especially after recent price corrections due to Middle East de-escalation. Gold remains well-supported near Rs 95,000-Rs 95,500, while resistance is seen around Rs 99,500," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

"Gold rose about 1% and silver jumped over 4% to an all-time high of 1,13,111 per kg on MCX, driven by safe-haven demand as President Trump unveiled sweeping new tariffs on Canadian, South Korean, Japanese, and multiple Asian imports, escalating global trade tensions," noted Ajay Kedia, Director of Kedia Advisory.

"Physical gold demand stayed muted in Asia amid volatile prices. Indian dealer discounts narrowed to up to $8/oz, down from last week's $14, due to tight supply and low imports. In China, premiums ranged from $10-$25/oz, steady on firm retail demand, " added Ajay Kedia of Kedia Advisory.

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