Gold Rate in India Slips Again After Hitting Record Highs; 24K, 22K Drop Rs.2,500 per 100g, Silver Steady

Gold prices in India nosedived by Rs 2,500 for 100 gms today while the stock market bled immensely in red. The yellow metal has fallen for 4 consecutive days amid global market turmoil driven by US President Donald Trump's tariffs to 90 countries. The escalating trade war has damaged investors' sentiment, and a global recession is now feared. Last week, gold rates in India also plunged significantly following Trump's announcement, with prices falling as much as ₹17,400 per 100 grams. The decline in gold prices was observed across the country, with major metropolitan markets such as Mumbai, Chennai, and Delhi witnessing some relief after the relentless surge seen in previous weeks. The recent correction in gold prices comes after a prolonged rally, as global investors initially sought safe havens amid rising geopolitical uncertainty.

Gold Rate in India Today

On Monday 7th April, 24-carat gold rates in India slipped once again by Rs. 280 per 10 grams to cost Rs. 90,380. While the 22-carat gold price in India stood at Rs 82,850 per 10 grams after a massive decline of Rs 250. The cheaper variant, 18-carat gold rates, dropped by Rs. 200 to retail at Rs. 67,790 per 10 grams.

In a similar manner, the 100 grams of 24-carat gold rates now retail at Rs 9,03,800, and the 22-carat gold rates per 100 grams now cost Rs 8,28,500.

Silver prices in India today

Silver rates in India today maintained stability after the massive decline seen on the previous date. On the 7th of April, 1 kg of silver in India cost Rs. 94,000. While 100g of silver rates in India retails at Rs 9,400.

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

Here's a look at the latest gold prices for 22-carat and 24-carat gold in major Indian cities:

Gold Price in Chennai

The current 24-carat gold rate in Chennai is Rs. 90,380 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 82,850 per 10 grams.

Gold Price in Bangalore

The gold market in Bangalore is witnessing similar trends. As of today, the 22-carat gold rate in Bangalore is Rs.82, 850 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 90,380 per 10 grams.

Gold Rate in Hyderabad

Gold prices in Hyderabad for the 22K gold is currently at Rs. 82,850 per 10 grams, while the 24K gold price in Hyderabad is Rs. 90,380 per 10 grams.

Gold Price in Mumbai

The 22-carat gold in Mumbai slipped once again and currently retails at Rs. 82,850 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 90,380 per 10 grams.

MCX Gold and Silver Prices

Gold futures prices this morning on the Multi Commodity Exchange were trading in green at around 10:40 am. Gold futures prices on the MCX, which are going to mature on June 5th, are trading at Rs. 88,300 with a rise of 0.26%. Similarly, silver futures prices set to mature on May 5th, 2025, are trading at Rs 88,589, which jumped by 1.58% on Monday.

Spot Gold Price and Spot Silver Rate Today

According to the latest report by Reuters, "Spot gold slipped by 0.3% to $3,027.90 an ounce as of 03:31 GMT, following an earlier drop of over 1%, which pushed prices to their lowest level since March 13. Meanwhile, U.S. gold futures edged up by 0.4% to $3,047.50. The yellow metal had already plunged more than 3% on Friday, as global markets were rattled by U.S. President Donald Trump's unexpectedly aggressive tariff announcements. The same report also noted that spot silver rebounded by 2.3% to $30.22 an ounce, after briefly hitting its lowest level in nearly seven months."

Gold Prices Target and Outlook This Week

As per the reports from Nirmal Bang Securities, "Gold moved further away on Friday from its latest record high, swept up in the anxiety about the impact of a global trade war in the wake of US President Donald Trump's more aggressive than expected tariff agenda. US stocks tumbled Friday, with the Nasdaq 100 Index sinking into a recession and the S&P 500 Index on pace for its worst week since March 2020. Traders boosted their bets on Federal Reserve interest-rate cuts, and US Treasuries rallied. Bullion slipped as much as 2.4% Friday, extending a decline from the prior session, as investors continued selling off the metal with other asset classes."

"The decline reversed Thursday's initial surge to a fresh all-time high of $3,167.84 an ounce following Trump's latest tariff announcements. Despite the jolt caused by the levies, gold stands to benefit this year from an increasingly volatile trade, macroeconomic and geopolitical environment. The precious metal has surged nearly 16% this year after a ferocious run in 2024 that was largely driven by massive central bank purchases, robust demand in Asia, and Federal Reserve monetary easing."