Gold prices in India took a breather from their back-to-back record-breaking rally on Sunday, April 13, as the country celebrated the Baisakhi festival. In major metro cities, 10 grams of gold prices still remain at their new all-time high levels, with 24K at Rs 95,670. Noticeably, the latest pause comes after gold jumped by a whopping Rs 59,400 in 24K's 100 grams of gold and Rs 5,940 upside in 10 grams in the previous four consecutive days. Check out the latest prices of gold in major cities on Sunday.
On Sunday, gold prices stayed at their fresh record high levels. 24K gold at 100 grams is priced at Rs 9,56,700 and 10 grams at Rs 95,670. Further, 100 grams and 10 grams of gold in 22K stood at Rs 87,700 and Rs 877,000. Additionally, in 18K, gold prices stood at Rs 717,600 for 100 grams and at 71,760 for 10 grams.
Gold prices have been rallying and hitting new highs from April 9th to 12th, recovering their early losses and surging by more than 3% so far in April. 100 grams of gold in 24k surged by Rs 7,100 on April 9th, followed by the biggest single-day jump of Rs 29,400 on April 10th, a Rs 20,200 climb on April 11th, and lastly a Rs 2,700 surge on April 12th.
Similarly, 10 grams of 24K jumped by Rs 710 on April 9th, Rs 2,940 on April 10th, Rs 2,020 on April 11th, and by Rs 270 on April 12th.
Cumulatively, 100 grams and 10 grams of gold in 24K advanced by a whopping Rs 59,400 and Rs 5,940 from April 9th to 12th.
The latest gold price performance also comes during the celebration of Baisakhi.
Happy Baisakhi 2025:
Vaisakhi, also known as Baisakhi, marks the first day of the month of Vaisakh and is traditionally celebrated annually on 13 April and sometimes 14 April. It is seen as a spring harvest celebration primarily in Punjab and Northern India. Whilst it is culturally significant as a festival of harvest in many parts of India, Vaisakhi is also the date for the Indian solar new year. But to Sikhs, this is not the new year as the first of Chet month is celebrated as a new year according to the Nanakshahi calendar, as per Wikipedia.
Gold demands are usually high during festival season in India.
In the above-mentioned cities, the 10-gram gold price was at Rs 95,670 in 24K and at Rs 87,700 in 22K, which is similar to Chennai. However, the difference is the 18K gold price which is at Rs 71,760 per 10 grams, cheaper than Chennai, Delhi, Vadodara, and Ahmedabad.
Gold prices in the national capital stood at Rs 95,820 for 10 grams of 24K, higher than the above-mentioned cities. While the 22K and 18K gold prices stood at Rs 87,850 and Rs 71,880 per 10 grams, respectively.
Gold Prices Outlook
As per the World Gold Council's market commentary note, a stronger euro and tariff fears edged gold to new highs once again in March. Fiscal and monetary support may be receding, and the timing isn't great for risk assets given current turmoil. Fundamentals remain solid for gold.
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