Gold Rate In India Continues Its Rally, 12 April: Prices Up 6.6% This Week; 24K, 22K, 18K at Record High

Gold prices in India posted their fourth consecutive day of gains this week, surpassing previous records. Gold rates in India have surged by 6.6% so far, recovering sharply after a steep decline seen during the first two days of the week. The U.S. The Dollar Index is currently at a multi-month low of 99.78, which is supporting the rise in gold prices. Spot gold crossed the psychological level of USD 3,200 yesterday, due to ongoing trade tensions between the U.S. and China, with both countries imposing tariffs on each other. Gold rates in India are expected to rise further in the coming days as per market experts.

Gold Rate in India Today

As of 12th April, the 24-carat gold rates in India spiked by Rs. 270 per 10 grams to cost Rs. 95,670. While the 22-carat gold price in India rallied by Rs. 250 per 10 grams, to cost Rs. 87,700. In the 18-carat gold rates jumped by Rs. 210 to retail at Rs. 71,760 per 10 grams.

And just like that, 100 grams of 24-carat gold rate stands at Rs 9,56,700, and the 22-carat gold rate is currently at Rs 8,77,000 per 100 grams of yellow metal.

Silver prices in India today

Silver rates in India today rose slightly. 1 kg of silver in India costs Rs. 97,100 after gaining Rs. 100. While 100g of silver rates in India retails at Rs 9,710, which jumped by Rs 10.

City-Wise Gold Rates: Latest 22-Carat & 24-Carat Prices Across India

The latest gold prices for 22-carat and 24-carat gold in major Indian cities are similar to national gold prices today.

Gold Price in Chennai

The current 24-carat gold price in Chennai is Rs. 95,670 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 87,700 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 87,700 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 95,670 per 10 grams.

Gold in Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 87,700 per 10 grams, while the 24K gold price in Hyderabad is Rs. 95,670 per 10 grams.

Gold Price in Mumbai

The 22-carat gold in Mumbai is Rs. 87,700 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 95,670 per 10 grams.

MCX Gold Price and Silver Price

Gold futures prices on the Multi Commodity Exchange closed in the green on Friday. At the end of trade, gold futures maturing on June 5th were trading at Rs. 93,887, jumping 0.15%. Similarly, silver futures prices set to mature on May 5th, 2025, ended at Rs 94,300 with a rise of 0.01%.

Spot Gold Price and Spot Silver Rate

Spot gold was up nearly 2% at $3,235.89 an ounce at 2:32 p.m. ET (1832 GMT), after hitting a record high of $3,245.28 earlier in the session. Bullion is up over 6% this week. U.S. gold futures rose 2.1% to settle at $3244.6. Spot silver gained 3.2% to $32.18 an ounce." As per the Reuters Bullion Update.

Where is Gold Headed Next? Key Levels and Market Outlook

A commodity report from the India Bullion and Jewellers Association Ltd stated that "Gold rose to a fresh record high on Friday as worries about the impact of tariffs on the global economy continued pushing investors to seek safety in the precious metal even after easing US inflation data. Bullion advanced as much as 3% to USD 3,175.07 an ounce, surpassing a previous peak reached earlier in the month. Underlying US inflation cooled broadly in March, indicating some relief for consumers prior to widespread tariffs that risk contributing to price pressures. US equities fell after the biggest buying in years, while bonds rebounded after the print. Traders priced in expectations for three interest rate cuts in the remainder of the year, with a chance of a fourth. Gold and silver prices are trading higher today on the international bourses. We expect precious metal prices on Indian bourses to trade range-bound to higher for the day, as concerns about the impact of tariffs on the global economy push investors to the haven."

As per Nirmal Bang Securities, "Gold prices are expected to rise. One can buy at 93000 with a stop loss of 92700 for the target at 93500-93700."

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.