Gold Prices In India Outlook On Saturday: Will 24K, 22K, 18K Gold Prices Rise Or Fall On April 5?

Gold prices in India on Saturday, April 5, will track the performance of international prices which have corrected sharply overnight. COMEX gold has touched about a one-week low. The main driving factor for gold is Trump's tariff and the uncertainties it will bring. Wall Street crashed, and so did the Indian stock market yesterday. Crude oil nosedived, and the dollar index reached near its weakest tone in six months. All of the market indicators are hinting at trade war tensions.

Gold Prices In India:

In the early hours of Saturday, 24K gold price slipped by Rs 10 to Rs 91,630 per 10 grams. While 22K and 18K gold prices were at Rs 83,990 and Rs 68,720 per 10 grams.

On April 4th, the 24K gold price plunged by Rs 1,740 in 10 grams to Rs 91,640, while the 22K gold price slipped by Rs 1,600 per 10 grams to Rs 84,000. Despite the latest fall, gold in India is expensive.

Silver Prices In India:

Silver price in India stood at Rs 98,900 per 1kg, while 1 gram silver is priced at Rs 98.90. 100 grams and 10 grams silver is available at Rs 9,890 and Rs 989 respectively.

MCX Gold, Silver Prices:

After trading volatile, MCX gold with June 2025 expiry stood at Rs 88,130 per 10 grams, up by Rs 55 or 0.06%.

Meanwhile, MCX silver with May 2025 expiry ended at Rs 87,431 per 1kg, higher by Rs 220 or 0.25%.

Spot Gold Price:

Erasing its gains, spot gold price dropped by 2.5% to $3,020 an ounce on April 4th. This took the bullion to a one-week low, as it pulled back further from its record highs.

What Will Impact Gold Prices In India?

As per Trading Economics data, analysts attribute the decline to investors selling gold to cover losses in other asset classes amid margin calls. The stock market saw another sharp sell-off as trade tensions escalated. China's announcement of a 34% tariff on all U.S. imports, in retaliation for President Trump's duties, has heightened concerns over global economic stability and inflationary pressures. Despite the intensifying trade war, precious metals remain unaffected by Trump's "reciprocal" tariffs.

It added, that gold inventories in COMEX warehouses across the US have surged in recent months due to fears that import tariffs could disrupt shipments. For the week, gold is still up about 1%, marking its fifth straight weekly gain.

Kaynat Chainwala, AVP-Commodity Research, Kotak Securities said that gold inventories on COMEX have surged in recent months amid concerns that tariffs could disrupt shipments. However, fears of retaliation from key trading partners and the potential for a full-blown trade war boosted safe-haven demand, limiting losses. Additionally, gold remains supported by expectations of rate cuts, central bank purchases, and strong demand from gold-backed ETFs. Currently, gold is trading above $3,120 and may stay supported as markets remain on edge ahead of key US jobs report and speeches by Fed Chair Powell and other FOMC officials.

On April 2, which is identified as Liberation Day by Trump, his administration declared reciprocal tariffs on foreign goods. India got a reciprocal tariff of 26%.

Will India be impacted? As per SBI CAPs report, "While India's lower trade-to-GDP ratio offers some insulation, supply chain disruptions may still impact investment and trade financing. FDI inflows remain uncertain, adding to near-term volatility. High tariffs are now a reality, but India's 26% rate remains lower than key competitors in solar modules, electronics, and textiles etc., providing a relative advantage. How this plays out for investment and competitiveness remains to be seen..."

SBICAP highlighted that a list of ~60 countries were singled out for a significant increase in reciprocal tariffs ranging from 10% to 50%. To conceptualise reciprocal tariffs, the tariff rates that would drive bilateral trade deficits to zero were computed. China was slapped with a 34% tariff over an above existing tariff, making it amongst the worst hit, with the EU scraping through with a 20% levy. No country emerged unscathed with a blanket 10% tariff on all.