Gold prices in India erased their entire gains and are now down by over 2.5% in April 2025 so far. In the previous two consecutive sessions, 100 grams of gold plunged by Rs 27,200 in 24K, and down by Rs 2,720 in 10 grams. Currently, 24K gold is at Rs 90,660 per 10 grams, which is its lowest level of the month. Gold erased its all-time high of Rs 93,380 per 10 grams, in two consecutive losing streaks. Also, MCX gold nosedived to end last week at Rs 88,130 per 10 grams, correcting significantly from its fresh record of Rs 91,423 per 10 grams. The upcoming trading week is expected to be volatile!
Gold Prices In India:
Currently, 24K gold price is at Rs 90,660 per 10 grams, while 22K and 18K gold prices are at Rs 83,100 and Rs 67,990 per 10 grams respectively. The price of 1 gram gold in India is at Rs 9,066 per gram for 24 karat gold, at Rs 8,310 per gram for 22 karat gold and at Rs 6,799 per gram for 18 karat gold (also called 999 gold).
Gold prices are now down by 2.3% in April so far.
Silver Prices In India:
Silver prices in India witnessed severe selling pressure, nosediving by at least 10.5% in April so far. 1KG Silver price is currently at Rs 94,000 in India, while 1 gram silver is priced at Rs 94. However, in some cities like Chennai, Kerala and Hyderabad, 1Kg silver prices still stayed above Rs 1 lakh mark to Rs 1,03,000.
MCX Gold, Silver Prices:
Last week, on Friday, MCX gold price, with June 2025 expiry, stood at Rs 88,130 per 10 grams, up by Rs 55 or 0.06%. The bullion corrected sharply from its all-time high of Rs 91,423 which was recorded last week.
MCX silver price, with May 2025 expiry, stood at Rs 87,431 per 1kg, up by Rs 220 or 0.25%.
Going ahead, MCX gold has the potential to hit the Rs 91,500 mark during the trading week from April 7 to April 11. This would be MCX gold's new all-time if touched.
How Gold Prices In India Will Perform In The Coming Week?
According to SMC Global Securities' weekly outlook report, gold continued its winning streak for the fifth straight week, repeatedly hitting all-time highs as investors sought safety amid rising trade tensions. President Trump's decision to impose a 10% tariff on all imports, along with steeper duties on major trading partners, sparked fears of retaliation and economic uncertainty.
However, the brokerage added that after an initial surge, gold saw some profit-taking, especially after reports suggested precious metals might be excluded from the tariffs. Despite this temporary dip, gold's overall bullish momentum remains strong, fuelled by safe-haven demand, expectations of Federal Reserve rate cuts, and heavy central bank buying.
SMC's also note said, strong inflows into gold-backed ETFs further underline investor confidence. All eyes are now on the upcoming U.S. non-farm payrolls report, which could provide fresh clues about the Fed's next move on interest rates. The new tariffs have amplified concerns about rising inflation and a potential economic slowdown, adding further uncertainty to global markets. Analysts suggest that the Fed may need to rethink its economic outlook as trade disruptions take shape.
While sentiment around the tariffs is mixed, some argue that a clearer policy direction could reduce market confusion and make it easier to price in future risks. On the technical side, COMEX gold faces resistance near $3,200, while support sits around $3,080. A breakout in either direction could set the next big move, SMC said.
Thereby, in this week's session, SMC added, MCX gold may see some selling pressure, with Rs. 87,500 acting as support and Rs. 91,500 as resistance. Meanwhile, silver is likely to trade between Rs. 88,000 and Rs. 96,000, reflecting broader market volatility. Traders will keep a close watch on global economic cues and upcoming U.S. data releases to gauge future price action.
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