As global equity markets reel from the impact of escalating trade tensions sparked by former U.S. President Donald Trump’s renewed tariff measures, investors are turning to traditional safe-haven assets. On what is being dubbed “Black Monday,” gold and silver have witnessed significant inflows, pushing prices higher across India’s major cities.
On April 7, gold prices on the Multi Commodity Exchange (MCX) rose by ₹301 or 0.34%, trading at ₹88,376 per 10 grams. Silver followed suit, with prices climbing by 2% or ₹1,487 to ₹88,698 per kilogram, according to MCX data.
The Indian Bullion Association (IBA) reported that, as of 9:55 a.m. IST, the price of 24-carat gold stood at ₹88,170 per 10 grams, while 22-carat gold was priced at ₹80,823 per 10 grams. Silver (999 fine) was quoted at ₹88,690 per kilogram.
Here’s a city-wise breakdown of gold and silver prices as of April 7:
New Delhi
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Gold Bullion (24K): ₹87,890/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,260/kg
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MCX Silver (999 fine): ₹88,698/kg
Mumbai
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Gold Bullion (24K): ₹88,050/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,420/kg
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MCX Silver (999 fine): ₹88,698/kg
Hyderabad
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Gold Bullion (24K): ₹88,190/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,560/kg
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MCX Silver (999 fine): ₹88,698/kg
Chennai
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Gold Bullion (24K): ₹88,330/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,650/kg
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MCX Silver (999 fine): ₹88,698/kg
Kolkata
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Gold Bullion (24K): ₹87,960/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,280/kg
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MCX Silver (999 fine): ₹88,698/kg
Bengaluru
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Gold Bullion (24K): ₹88,140/10 gm
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MCX Gold: ₹88,376/10 gm
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Silver Bullion: ₹88,460/kg
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MCX Silver (999 fine): ₹88,698/kg
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