Despite persistent global economic uncertainties, gold prices in India have eased by around ₹5,000 from their all-time highs, bringing some relief to investors. Market analysts attribute the drop to early technical indications of trend exhaustion, a minor rebound in the US Dollar index, and recent comments from former US President Donald Trump hinting at a possible relaxation in trade tariffs with India and Japan.
As of April 24, 7:55 am, gold prices on the Multi Commodity Exchange (MCX) stood at ₹94,751 per 10 grams, marginally up by ₹29. The Indian Bullion Association (IBA) data recorded 24-carat gold at ₹94,970 per 10 grams and 22-carat at ₹87,056 per 10 grams. Silver 999 fine was listed at ₹98,390 per kg, slightly higher by ₹126/kg.
City-Wise Gold and Silver Rates — April 24
- Mumbai: Gold at ₹94,800/10g | Silver at ₹98,220/kg
- Bengaluru: Gold at ₹94,870/10g | Silver at ₹98,290/kg
- New Delhi: Gold at ₹94,630/10g | Silver at ₹98,050/kg
- Chennai: Gold at ₹95,070/10g | Silver at ₹98,500/kg
- Kolkata: Gold at ₹94,670/10g | Silver at ₹98,090/kg
- Hyderabad: Gold at ₹94,940/10g | Silver at ₹98,370/kg
While gold remains a favoured safe-haven asset, its price premium appears to be stabilising. Experts caution that global cues and currency movement will continue to influence the trajectory in the days ahead.