Gold Prices In India Outlook On April 16: How will 24K, 22K, 18K Gold Rates React On Wednesday?

Gold prices in India are likely to see volatility due to global trends, however, sentiments are leaning towards bulls. MCX gold stayed near its record high in the previous session, while 24K of 10 grams held above the Rs 95,000 mark. MCX gold is expected to range between Rs 91,000 to Rs 94,500 per 10 grams on Wednesday, April 16, 2025.

Notably, on April 15, the northeast region of India could see a higher demand for gold due to the celebration of Bohag Bihu.

Gold Prices In India:

24K gold price in India stood at Rs 95,170 in the early hours of Wednesday, April 16, while 22K and 18K gold prices were Rs 87,190 and Rs 71,340 per 10 grams. The price of the cheapest gold stood at Rs 9,517 per gram for 24-karat gold, Rs 8,719 for 22-karat gold and Rs 7,134 per gram for 18-karat gold (also called 999 gold).

Silver Prices In India:

The price of 1 kg silver in India stood at Rs 99,700, away by Rs 300 from hitting the Rs 1,00,000 mark again. 100 grams and 10 grams silver prices stood at Rs 9,970 and Rs 997 respectively.

MCX Gold, Silver Prices:

After market hours of April 15, MCX gold price ended at Rs 93,493 per 10 grams, up by Rs 42 or 0.04%. The bullion was near its all-time high of Rs 93,940 per 10 grams.

Meanwhile, MCX silver price stood at Rs 94,795 per 1kg, marginally up by Rs 21 or 0.02%. The commodity was away from its all-time high of Rs 1,04,072 per 1kg, unlike gold.

What Will Impact Gold Prices In India?

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said, gold remained firm within a positive range as ongoing weakness in the dollar index and persistent tariff-related uncertainty sustained safe-haven demand and long positions. In Comex, gold held its ground above the key support at $3200, with visible resistance emerging near $3255. Domestically, MCX gold traded flat around ₹93,350, as gains were capped by rupee appreciation.

However, he added, the broader sentiment remains bullish, considering the sharp 8% rally from ₹87,000 since April 7, 2025.

"With risk appetite still cautious and investors closely tracking global developments, volatility is expected to persist. In the near term, gold is likely to trade within a range of ₹91,000 to ₹94,500 on MCX," Trivedi said.

Also, as per Trading Economics, gold climbed toward $2,630 per ounce on Wednesday, setting a new record, as ongoing uncertainty around US trade policy continued to support safe-haven demand, alongside a broadly weaker dollar. On Tuesday, President Trump called for an investigation into potential tariffs on all critical mineral imports-a move that signals a firmer stance on trade and could influence relations with key suppliers, including China.

Trading Economics data added, this development partially offsets the market relief from the recent exclusion of certain tech products from reciprocal tariffs and the indication of possible exemptions for auto parts. Adding to the bullish momentum, major banks remain positive on gold's outlook, citing continued inflows into gold-backed ETFs and sustained central bank buying. Investors now look ahead to US retail sales data and a speech from Fed Chair Powell later today for further clues on the economic outlook and monetary policy trajectory.