Gold Rate In India Soars On April 3rd After Trump's Reciprocal Tariff Move; 24K & 22K Rates Surge, Silver Dips

Gold prices in India surged today as U.S. President Donald Trump imposed a 26% tariff on India and several other countries. This tariff is expected to impact multiple sectors, leading to a downturn in the equity market. As a result, investors are turning to gold as a safe-haven asset, which is pushing gold rates in India even higher. The 24-carat gold has already crossed the Rs. 93,000 per 10 grams, and analysts believe this is not the end.

In the international market as well, gold prices also hit a record high, surpassing $3,148 per ounce, following the tariff announcement. With growing economic uncertainty, gold prices are expected to rise further, potentially reaching new all-time highs in the coming days.

Gold Rate in India Today

On Thursday, 3rd April, 24-carat gold rates in India jumped by Rs. 540 per 10 grams to cost Rs. 93,380. While the 22-carat gold price stands at Rs. 85,600 per 10 grams after a rise of Rs. 500. The cheaper variant, 18-carat gold, spiked by Rs. 410 to retail at Rs. 70,040 per 10 grams.
The bigger weight variant of gold also saw the same spike. 100 grams of 24-carat gold rates now retail at Rs. 9,33,800, and the 22-carat gold rates per 100 grams now cost Rs. 8,56,000.

Silver Prices in India Today

Silver rates in India today experienced a big decline. On the 3rd of April, 1 kg of silver in India costs Rs. 1,03,000, which fell by Rs. 2000 per kg. While 100g of silver rates in India retails at Rs. 10,300 after a drop of Rs. 200.

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:

22-carat gold: ₹85,600 per 10 grams

24-carat gold: ₹93,380 per 10 grams

24K gold: ₹93,380 per 10 grams

24-carat gold: ₹93,380 per 10 grams

MCX Gold and Silver Prices

While the gold futures are rising on the MCX, silver futures are experiencing a decline. At 10:45 on 2nd April, gold futures prices on the MCX, which are going to mature on April 4, jumped and are trading at Rs. 91,042 with an increase of 0.35%. On the contrary, silver futures prices set to mature on May 5th, 2025, traded at Rs. 97,8686, which slipped by 2.07% on Thursday.

Spot Gold Price and Spot Silver Rate

According to the latest Reuters report, spot gold was up 0.5% at $3,148.05 an ounce as of 0325 GMT, after hitting an all-time high of $3,167.57 earlier in the session. U.S. gold futures firmed 0.2% to $3,172.60. Spot silver slipped 1.5% to $33.52 an ounce."

Gold Prices Outlook and Target Price

"Gold advanced on Wednesday after US President Donald Trump announced reciprocal tariffs on US trading partners worldwide. Trump said Wednesday he will apply a minimum 10% tariff on all exporters to the US. The president, displaying a chart, indicated that dozens of countries with the largest trade imbalances will face even higher rates. China will face a 34% levy, while the European Union will have a 20% rate, and Vietnam is seeing a 46% tariff. Bullion jumped as much as 1% before paring gains. Investors regard the precious metal as a safe haven when concerns rise about the global economy. Such worries helped gold climb 19% this year after a ferocious run in 2024 that was largely driven by massive central bank purchases and robust demand in Asia. It's unclear if targeted nations will retaliate, and investors fear that an escalating global trade war may hurt demand and potentially tilt the economy into a recession".

"The levy will hit America's largest copper suppliers, including Chile, which accounted for 41% of US imports of the metal in 2024. Meanwhile, the White House said steel and aluminium imports won't be subject to reciprocal tariffs, a move that will provide at least some relief to domestic buyers. Steel and aluminium already subject to Section 232 tariffs won't incur the duties announced Wednesday, according to a White House fact sheet. Gold and copper were also cited in the exemption clause. Gold and silver prices are trading range-bound to slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade slightly higher for the day after President Donald Trump unveiled his sweeping "reciprocal" tariffs, imposing a minimum levy of 10% on imports and stoking fears it may trigger a global economic slowdown."

"Gold prices are expected to rise. One can buy at 90900 with a stop loss of 90600 for the target at 91250-91500." According to the Nirmal Bang Securities Research Report." According to the Nirmal Bang Securities Research Report.

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