Gold Rate in India Today Jumps On April 9, 24K, 22K, 18K Gold Prices Shoot Up Amid Trump's Tariff Blasts

Gold prices in India today saw a strong jump after falling for four straight days. Over the last week, 24-karat gold rates in India had dropped sharply by around Rs.3,500 per 10 grams, slipping from record-high levels. But on Wednesday, gold prices bounced back, and there's a big reason behind this sudden change. The main reason for the rise in gold prices is global tension caused by the Trump tariff war with China. Just yesterday, former US President Donald Trump announced new retaliatory tariffs, increasing duties on Chinese imports to 104%. China, on the other hand, refused to back down and called the move "blackmail". This heated trade war has created fear and uncertainty in the global markets. This sudden demand pushed spot gold prices up by almost 1% overnight. If global tensions remain high, gold prices in India could continue to rise.

Gold Rate in India Today

As of April 9th, Tuesday, 24-carat gold rates in India surged by Rs. 710 per 10 grams to cost Rs. 90,440. While the 22-carat gold price in India jumped massively by Rs. 650 per 10 grams, to cost Rs. Rs.80,900. Just like that, the 18-carat gold rates spiked by Rs. 530 to retail at Rs. 67,830 per 10 grams.

Similarly, 100 grams of 24-carat gold rates now retail at Rs 9,04,400, and the 22-carat gold rates per 100 grams now cost Rs 8,29,000.

Silver prices in India today

Silver rates in India today fell after maintaining three days of stability. On the 9th of April, 1 kg of silver in India cost Rs. 93,000 after slipping Rs. 1000. While 100g of silver rates in India retails at Rs 9,300, which fell by Rs 100.

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. 90,440 per 10 grams, while the 22-carat gold price in Chennai stands at Rs. 82,900 per 10 grams.

Gold Price in Bangalore

As of today, the 22-carat gold rate in Bangalore stands at Rs. 82,900 per 10 grams, whereas the 24-carat gold rate in Bangalore is Rs. 90,440 per 10 grams.

Gold in Price in Hyderabad

The 22K gold price in Hyderabad is Rs. 82,900 per 10 grams, while the 24K gold price in Hyderabad is Rs. 90,440 per 10 grams.

Gold Price in Mumbai

The 22-carat gold in Mumbai is Rs. 82,900 per 10 grams, whereas the 24-carat gold price in Mumbai stands at Rs. 90,440 per 10 grams.

MCX Gold Price and Silver Price

"MCX Gold June is expected to find support near the 50-day EMA at ₹86,400 and rebound towards the ₹88,500 level. • MCX Silver May is expected to move towards ₹87,000, as long as it trades under the Rs. 90,500 level. Only move below ₹87,000; it would turn weaker towards Rs.86,000." As per ICICI Direct Daily Commodities Outlook.
Currently, gold futures prices on the MCX, which are going to mature on June 5th, are trading at Rs. 88,718, jumping 1.22%. Similarly, silver futures prices set to mature on May 5th, 2025, are trading at Rs 89,136, with a rise of 0.44%.

Spot Gold Price and Spot Silver Rate

"Spot gold prices edged higher on Tuesday amid softness in the dollar and escalating trade tension between the world's two largest economies. Trade war concerns have raised fears of recession and increased inflows into safe-haven assets like gold. Meanwhile, spot silver fell below $30 per ounce after a surprise move from the US to implement tariffs of up to 104 % on Chinese imports. " ICICI Direct Daily Commodity Outlook, said.
According to the latest report from Reuters, spot gold was up 0.9% at $3,010.39 an ounce, as of 0500 GMT, after rising 1% earlier in the session. U.S. gold futures rose 1.2% to $3,026.90. Spot silver was steady at $29.84 an ounce."

Gold Prices Target and Outlook This Week

"Fears of stagflation in the US economy, wherethere's upside risk to inflation and downside risk to growth, are providing bullish support to gold prices going forward, according to Shiels. Gold for immediate delivery was little changed at $2,982.92 an ounce. Gold has been reeling along with other asset classes since the US leader last week announced global tariffs on the country's trading partners. Despite being a haven asset in times of uncertainty, it "is not immune to liquidity-driven global derisking events," said Nicky Shiels, head of research and metals strategy at MKS Pamp SA. Still, bullion has climbed more than 13% this year - setting successive records and luring inflows to exchange-traded funds - as the prospect of widespread economic disruption fanned haven demand." By Nirmal Bang Securities.

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