Priyanka
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Gold prices in India reached a new lifetime high on Tuesday, with MCX gold touching ₹91,400 per 10 grams, according to data from the Multi Commodity Exchange. Retail prices for 24K gold have surpassed ₹92,000 per 10 grams, while prices for 22K and 18K gold stand at ₹85,100 and ₹69,630, respectively.
The rally is largely attributed to increasing investor anxiety over a potential economic slowdown, fueled by escalating global trade tensions and the expected announcement of U.S. reciprocal tariffs on April 2 by President Donald Trump.
Silver Prices Also Climb Near Historic Highs
Silver followed a similar upward trend. On the MCX, silver is trading at ₹1,00,600 per kg, up 0.6% after hitting an intraday high of ₹1,00,900. This movement comes ahead of its April 30 expiry. The all-time high for MCX silver remains ₹1,04,108 per kg.
Gold Headed for ₹1 Lakh Milestone in April?
With current momentum, analysts believe gold could soon reach the ₹1,00,000 per 10 grams mark, possibly within April 2025. The difference between the current high and the ₹1 lakh threshold is just ₹8,600, making the target achievable amid continuing global uncertainty and rising safe-haven demand.
India Gold Rates Among Highest Globally
India currently has one of the highest gold prices globally. Here's a comparison of 24K gold rates per 10 grams across major countries:
India: ₹92,840
Australia: ₹90,890
Canada: ₹85,910
United Kingdom: ₹86,570
United States: ₹85,890
This disparity is attributed to import duties, taxes, and local market demand in India.
