Gold prices in India jumped massively once again on Friday, April 11 after Mahavir Jayanti. 24K gold price climbed by a whopping Rs 20,200 in 100 grams, while 10 grams gold skyrocketed to hit a new all-time high of Rs 95,400. Yellow metal tracked international prices as dollar weakened to nearly three-year low, which increased the appetite for safe haven assets. Here is a comparison of gold prices in Hyderabad, Bangalore and Kerala.
24K, 22K and 18K gold prices rallied sharply on Friday. These prices are same in three cities.
In the three cities, 24K gold price stood at Rs 9,54,000, skyrocketing by a whopping Rs 20,200 per 100 grams. While 10 grams gold price climbed by Rs 2,020 to Rs 95,400, which is a new all-time high. 8 grams gold jumped by Rs 1,616 to Rs 76,320 and 1 gram gold rose by Rs 202 to Rs 9,540.
Coming to 22K, 10 grams gold price is at Rs 87,450 per 10 grams, rising by Rs 1,850. This price is also at new high in Bangalore, Kerala and Hyderabad. Furthermore, 100 grams gold in the cities stood at Rs 8,74,500, surging by Rs 18,500 in a single-day. Moreover, 8 grams gold is up by Rs 1,480 to Rs 69,960 in 22K, and higher by Rs 185 to Rs 8,754 in 1 gram.
Under 18 carat, 100 grams gold jumped by Rs 15,100 to Rs 7,15,500, while 10 grams gold soared by Rs 1,510 to hit Rs 71,550 for the first time. Also, 8 grams gold zoomed by Rs 1,208 to Rs 57,240, and 1 gram gold is up by Rs 151 to Rs 7,155.
1Kg silver is expensive in Kerala and Hyderabad compared to Bangalore. On April 11, silver price soared by Rs 1,000 to Rs 1,08,000 in the two cities, while 100 grams silver is higher by Rs 100 to Rs 10800. Cheapest silver is of 1 gram which is priced at Rs 108.
Unlike Kerala and Hyderabad, silver price in Bangalore surged by Rs 100 to Rs 97,100 per 1kg, while 100 grams silver is up by Rs 10 to Rs 9,710, and cheapest silver of 1 gram is at Rs 97.10.
As per Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, China's countermeasures and the US hiking tariffs to 104% on key Chinese imports have reignited fears of a global slowdown, prompting a fresh wave of safe-haven buying in gold. Domestically, the RBI's Monetary Policy Committee added further fuel to the bullish sentiment by cutting the repo rate by 25 bps and shifting to an accommodative stance. The central bank also revised its GDP forecast lower, citing global tariff tensions and uncertainty as key downside risks. This dual impact of geopolitical uncertainty and dovish monetary policy has set the stage for continued volatility in gold.
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