Gold Rate In India Surges To Record High, March 19: 22K Gold Costlier By Rs.8,000 In Just 2 Days This Week

Gold prices in India have been rising consecutively for the second day today, making gold super expensive. Yesterday gold rates in India touched the psychological level of Rs. 90,000 per 10 grams for the very first time in history. Gold prices today are more than 22% higher than gold price in India six months ago. Due to massive demand and weighing international factors, yellow metal rates are surging continuously. Market participants are now looking forward to the Federal Reserve policy meeting outcome scheduled later today for more insights.

Gold Rates In India Today

On Wednesday the 916 variant, or the 22-carat gold price in India, rose sharply by Rs. 400 to cost Rs. 82,900 per 10 grams. Pure gold, or the 24-carat gold rate, jumped around Rs. 440 per 10 grams to retail at Rs. 90,000 per 10 grams. Similarly, 18-carat gold rates in India climbed by Rs. 330 to cost Rs. 67,830 per 10 grams.

100g of 24-carat gold is trading at Rs. 900,000, after surging by Rs. 4,400, and the 22-carat gold per 100 grams now retails at Rs. 829,000, which spiked by Rs. 4,000. Similarly, 100 grams of 18-carat gold costs Rs. 678,300, which spiked Rs. 3,300.

Silver Prices in India Today

Silver rates in India today also Jumped for the second consecutive day. On March 19, 1 kg of silver cost Rs. 105,000 after rising Rs. 1,000 per kg, and 100 grams of silver cost Rs. 10,500, which spiked by Rs. 100 per 100 grams.

Gold prices in Chennai, Bengaluru, and Hyderabad

A sharp surge in gold prices across major cities in India has been reported. Below are the gold rates in the major cities of India:

Gold Rates in Chennai:

• 24-carat gold: ₹90,440 per 10 grams
• 22-carat gold: ₹82,900 per 10 grams

Gold Rates in Bangalore:

• 24-carat gold: ₹90,440 per 10 grams
• 22-carat gold: ₹82,900 per 10 grams

Gold Rates in Hyderabad:

• 24-carat gold: ₹90,440 per 10 grams
• 22-carat gold: ₹82,900 per 10 grams

Gold Futures Prices on the Multi Commodity Exchange

Gold prices on the MCX (Multi Commodity Exchange) witnessed a rise today. Currently, gold futures prices due to mature on April 4, 2025, are trading at Rs. 88,888 after rising 0.18%.

Silver Futures Price on the Multi Commodity Exchange

Silver futures, which are set to mature on May 5, 2025, climbed today, trading 0.06% higher at Rs. 1,01,329.

Spot Gold Price and Silver Price Update

As per the latest report from Reuters, "Spot gold remained steady at $3,035.12 per ounce. As of 04:15 GMT, after reaching a record high of $3,038.90 earlier in the session. U.S. gold futures inched up 0.1% to $3,042.20. Meanwhile, spot silver edged down 0.2% to $33.97 per ounce. Gold surged to an all-time high on Wednesday, driven by rising geopolitical tensions in the Middle East and ongoing trade uncertainties, boosting its safe-haven appeal."

Outlook Ahead For Gold Price In India This Week

As per the commodity report from the India Bullion and Jewellers Association Ltd., "Gold rose on Tuesday to a record high above $3,030 an ounce as an escalation in Middle East tensions underscored its haven appeal, and investors weighed data that fueled concern the US economy is slowing down. Bullion climbed as much as 1.3% as Israel launched airstrikes across Gaza that Hamas said killed hundreds of people, shattering a nearly two-month ceasefire. Traders were also digesting recent US economic data that showed consumer apprehension about the impact from President Donald Trump's tariff measures. They'll be on the lookout for interest-rate cues from the Federal Open Market Committee meeting that concludes Wednesday. Right now, they see high odds of three rate cuts this year. Policymakers are widely expected to keep rates steady at the conclusion of their meeting on March 19. The gloomier outlook for both the US and global economy has underscored bullion's role as a store of value in uncertain times. The metal is up more than 15% so far this year, extending its strong 2024 performance. Several major banks have hoisted price targets in recent weeks. Inflows into physically-backed gold exchange-traded funds continued for a fifth consecutive day on Monday. The amount of gold held in ETFs has risen 5% this year, after dropping for the past four years, according to data compiled by Bloomberg."