Gold prices experienced a significant rebound during Thursday morning’s trading session in the domestic futures market, buoyed by favorable global trends, a declining dollar, and robust demand in the spot market. As of 9:10 AM, the Multi Commodity Exchange (MCX) reported gold trading at ₹95,770 per 10 grams, reflecting an increase of 1.11%. In the spot market, 24-carat gold was valued at ₹98,513 per 10 grams in Delhi.
Recent Trends in Gold Prices
This surge comes on the heels of a remarkable spike where gold prices hit ₹1 lakh per 10 grams in the retail sector on April 22. The surge was primarily attributed to rising apprehensions about a potential trade conflict between the United States and China, the world’s two largest economies, which could have dire implications for global economic stability.
Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL), shared insights on the current market dynamics. “The ongoing fluctuations in President Trump’s trade policy have eroded investor confidence, contributing to a weaker US dollar—which has seen a 10% drop in 2025. This decline has fueled a rally in gold, which has appreciated 30% this year, peaking at $3500 and ₹1 lakh before experiencing a recent downturn of $200 (~₹4000) as market sentiment shifted towards riskier assets.”
Navigating Market Volatility: Buy or Sell Gold?
As gold prices continue to fluctuate, Jateen Trivedi, VP of Research at LKP Securities, emphasizes the volatility observed in April. He notes that technical charts are showing early signs of trend fatigue. Trivedi predicts that gold prices will likely oscillate between ₹94,000 and ₹98,000, with ongoing volatility likely to remain a factor.
- Key Points:
- Dollar Index rebound from 98.4 has influenced gold’s safe-haven status.
- Positive signals regarding potential tariff resolutions involving the US, India, Japan, and China are affecting gold premiums.
- Traders are encouraged to implement stringent risk management strategies in response to current market conditions.
In summary, the gold market is navigating a complex landscape characterized by geopolitical tensions and fluctuating currency values. Investors should stay informed and prepared for ongoing changes as they consider their strategies for buying or selling gold.
