Gold prices in India have soared to an all-time high, driven by strong global demand and rising uncertainty due to escalating trade tensions between the U.S. and China. On April 10, 24-carat gold prices surged by ₹29,400 per 100 grams, reaching ₹93,380 per 10 grams. This sharp increase is a reflection of the heightened investor interest in gold as a safe-haven asset amid the intensifying tariff war.
Key Factors Driving the Surge
Escalating U.S.-China Trade War: The U.S. recently raised tariffs on Chinese imports, further escalating the ongoing trade conflict between the two largest economies. This development has sparked fears of global economic instability, pushing investors toward gold, a traditional hedge during times of market volatility.
Global Market Response: On the international market, spot gold prices rose by more than 1% as investors flocked to precious metals. Gold’s appeal has been amplified as markets react to the volatility stemming from the trade war.
Continued Upward Momentum: Experts suggest that if the trade tensions persist, the gold price rally in India is likely to continue, as geopolitical instability often leads to an increased demand for gold.
Gold Rates in India on April 10
24-Carat Gold: ₹93,380 per 10 grams (up ₹2,940)
22-Carat Gold: ₹85,600 per 10 grams (up ₹2,700)
18-Carat Gold: ₹70,040 per 10 grams (up ₹2,210)
Silver Prices in India
Silver also saw a price jump, with 1 kg of silver priced at ₹95,000 (up ₹2,000) and 100 grams of silver retailing at ₹9,500 (up ₹200).
Gold Prices in Major Indian Cities
Chennai: 24-carat gold ₹93,380 per 10 grams, 22-carat gold ₹85,600 per 10 grams
Bengaluru: 24-carat gold ₹93,380 per 10 grams, 22-carat gold ₹85,600 per 10 grams
The surge in gold prices reflects both the global and domestic economic landscape, with ongoing trade wars and geopolitical uncertainties continuing to drive demand for this precious metal.
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