Gold Rate In India Goes Wild, April 11: Rs. 49,600/100g Surge in Just 48 Hrs Stuns Market; Check 24K,22K Rate

Gold prices in India Today witnessed a massive jump for the second consecutive day, continuing their bullish streak. On the previous day, 24-karat gold surged by Rs. Rs.27,400 per 100 grams, and today, the momentum intensified as gold rate in India crossed the Rs. 95,000 per 10 grams mark, setting a new all-time high.

This spectacular gold sprint is mainly because of the intensifying global trade tensions, especially the escalating US-China trade war, which shows no signs of easing. The US Dollar Index is rapidly declining, adding further pressure to global markets and boosting demand for bullion.

With stock markets across the world tumbling, investors are fleeing risky assets and turning to gold as a safe-haven investment, driving gold prices in India to unprecedented levels.

Gold Rate in India Today

On Friday, the 24-carat gold rate in India zoomed by Rs. 2,020 per 10 grams to cost Rs. 95,400. While the 22-carat gold price in India spiked greatly by Rs. 1,850 per 10 grams, to cost Rs. 87,450. Following the trend, the 18-carat gold rates jumped by Rs. 1,510 to retail at Rs. 71,550 per 10 grams.

In a similar manner, 100 grams of 24-carat gold now retail at Rs 9,54,000, and the 22-carat gold rates per 100 grams now cost Rs 8,74,500.

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. 95,400 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 87,450 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 87,450 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 95,400 per 10 grams.

Gold in Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 87,450 per 10 grams, while the 24K gold price in Hyderabad is Rs. 95,400 per 10 grams.

Gold Price in Mumbai

The 22-carat gold in Mumbai is Rs. 87,450 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 95,400 per 10 grams.

MCX Gold Price and Silver Price Update

On 11th April, gold futures prices on the Multi Commodity Exchange, which are going to mature on June 5th, were trading at Rs. 92,920, jumping 0.96%. Similarly, silver futures prices set to mature on May 5th, 2025, are trading at Rs 92,330 with a rise of 0.80%.

Spot Gold Price and Spot Silver Rate

As per Reuters, "Spot gold was up 1.4% at $3,217.78 an ounce as of 0350 GMT. Bullion scaled an all-time peak of $3,219.84 earlier in the session and has gained almost 6% this week. U.S. gold futures climbed 1.9% to $3,237.50. Spot silver added 0.3% to USD 31.29 an ounce."

"Spot gold prices hit an all-time high at $3175 per ounce on Thursday amid safe-haven demand and weakness in the US dollar index. Escalating trade tension between the world's two largest economies has raised fears of recession and increased inflows into safe-haven assets like gold. Further, softer-than-expected inflation numbers from the US also increased the expectation of an interest rate cut." a ICICI Direct Research Report stated.

Gold Prices Target and Outlook This Week

According to the ICICI commodity outlook report, "Gold is expected to trade higher amid weakness in the US dollar and safe haven buying. The dollar is facing a confidence crisis as it is losing its reserve currency status due to the trade negotiations. Escalating trade tension between the US and China would bring more investment into the bullions. Moreover, recession concerns and the increasing probability of a rate cut would support the yellow metal to scale new highs. Gold prices will also get benefits from increasing volatility in trade and geopolitical risk."

"On the data front, fresh additions in ATM and OTM put strikes indicate prices to hold strong support near $3150. On the upside, a strong call base near the 3250 strike could provide resistance to the price." the report further mentioned.

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