Gold rates in India touched a new peak on Thursday, as international COMEX struck its fresh historic high above $,3,300 levels. MCX gold price has broken a new record, with 10 grams of gold at Rs 95,799. Meanwhile, 24K, 22K, and 18K gold prices posted a strong surge by Rs 11,400 in 100 grams, followed by a rally of Rs 10,500 in 22K price. The consistent shift in tariffs of Trump has kept demand for safe haven assets high and accelerating.

MCX Gold, Silver Prices:

At the time of writing, MCX gold with a June 2025 expiry, traded at Rs 95799 per 10 grams, higher by Rs 138 or 0.14%. In the opening bell, MCX gold hit its new all-time high of Rs 95895 per 10 grams.

From the new record-breaking level, MCX gold is now about Rs 4,105 away from hitting its Rs 1,00,000 mark.

On the other hand, the prices of MCX silver, with a May 2025 expiry, plunged by nearly 1% or Rs 950 to trade at Rs 95,300. MCX silver is near its day's low of Rs 95650 per 1kg.

Gold Prices In India:

100 grams gold price skyrocketed by Rs 11,400 in major cities like Chennai, Kolkata, Pune, Kerala, Mumbai, Bangalore, and Hyderabad, to Rs 9,73,100 on April 17 in 24K. While 100 grams gold prices in 22K and 18K climbed by Rs 10,500 and Rs 8,600 to hit a new all-time high of Rs 8,92,000 and Rs 7, 29, 900 respectively.

Furthermore, 10 grams gold price zoomed by Rs 860 to hit a new high of Rs 72,990 in 18k, followed by a strong surge of Rs 1,140 to Rs 97,310 in 24K, and upside by Rs 1,050 in 22K of 10 grams to a new record of Rs 89,200.

Silver Prices In India:

Unlike the robust rally of gold, silver prices were unchanged. 1Kg silver is priced at Rs 1,00,000. 100 grams and 10 grams of silver is available at Rs 10,000 and Rs 1,000 respectively.

Spot Gold Price:

As per Trading Economics, gold hovered at an all-time high above the $3,340 level on Thursday, driven by demand for safe-haven assets amid continued uncertainty in U.S. trade policy. Market focus has been on the ever-shifting tariff headlines with the Trump administration pursuing potential tariffs on semiconductor and pharmaceutical imports by initiating trade probes, shortly after signalling a possible delay to existing auto tariffs and suspending levies on some tech products from reciprocal duties.

Meanwhile, Trading Economics data added, that Fed Chair Jerome Powell said on Wednesday the U.S. central bank will wait for greater clarity before adjusting interest rates as he expects Trump's tariffs to generate higher inflation and slower growth. Elsewhere, investors are closely watching prospects for U.S.-China trade negotiations, after China expressed its willingness to resume trade talks, but under certain conditions.

What Is Impacting Gold Prices In India?

Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services said, gold prices extended their record run to breach $3,300, as a weaker dollar and escalating U.S.-China trade tensions pushed investors towards the safe-haven asset. Bullion remains heavily supported by a broadly weaker dollar, uncertainty around tariff announcements and fears about a growth slowdown. U.S. President Donald Trump ordered an investigation into possible tariffs on all U.S. critical minerals imports, marking another escalation in his dispute with global trade partners and an attempt to pressure China. Governor Powell in his speech yesterday, U.S. economic growth appears to be slowing, with consumer spending growing modestly, a rush of imports to avoid tariffs likely to weigh on estimates of GDP, and sentiment souring.

He further added that there was a sense of caution in his tone, as he reiterated that there is no rush to make any changes in interest rates, Fed will change its decision looking at the economic development. On data front, US Retail sales was reported better than expectations while, industrial production was lower than estimates. Growth numbers from China was also mixed keeping market participants on edge. Focus today will be on US weekly jobless claims, philly fed manufacturing index and a few housing numbers.

Should You Buy Gold, Silver In India?

As per Nirmal Bang's technical report dated April 17th, gold prices are expected to rise. One can buy at 95200 with a stop loss of 94900 for the target at 95600-96000.

Also, on silver, the brokerage said, silver prices are expected to correct. One can sell at 97500 with a stop loss of 98500 for the target at 96000-95500.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.