With ongoing uncertainty stemming from Donald Trump’s tariff policies and the escalating global trade tensions, many investors are flocking to safe-haven assets, particularly gold and silver. As of April 19, 2023, the Multi Commodity Exchange (MCX) reported that gold prices were pegged at ₹95,239 per 10 grams, marking a decrease of ₹422 or 0.44% from the previous trading session. Similarly, silver prices saw a slight dip, falling by ₹36 to settle at ₹95,001 per kilogram.

Current Gold and Silver Pricing Insights

According to the Indian Bullion Association (IBA), the price of 24-carat gold stood at ₹95,420 per 10 grams, while 22-carat gold was valued at ₹87,468 per 10 grams. Meanwhile, silver was quoted at ₹95,420 per kg for Silver 999 Fine.

Key price points for April 19 include:

• New Delhi:

  • Gold bullion: ₹95,080/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,080/kg
  • MCX Silver 999: ₹95,001/kg

• Mumbai:

  • Gold bullion: ₹95,250/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,250/kg
  • MCX Silver 999: ₹95,001/kg

• Hyderabad:

  • Gold bullion: ₹95,400/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,400/kg
  • MCX Silver 999: ₹95,001/kg

• Chennai:

  • Gold bullion: ₹95,520/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,520/kg
  • MCX Silver 999: ₹95,001/kg

• Kolkata:

  • Gold bullion: ₹95,120/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,120/kg
  • MCX Silver 999: ₹95,001/kg
• Bengaluru:
  • Gold bullion: ₹95,320/10 gm
  • MCX Gold: ₹95,239/10 gm
  • Silver bullion: ₹95,320/kg
  • MCX Silver 999: ₹95,001/kg

Market Trends and Implications

As market dynamics shift, the surge in gold prices is prompting retailers to enhance their offers, especially with Akshaya Tritiya approaching. Observers are keen to see if MCX gold will reach the significant threshold of ₹1 lakh this month, further driving interest in these precious metals.

Investors are encouraged to stay informed about fluctuations in gold and silver prices as they navigate this volatile market landscape. For more detailed insights and updates on gold and silver trends, feel free to explore additional resources.