On April 10, gold and silver prices experienced notable fluctuations, with gold in Delhi dipping below the ₹91,000 threshold. This decline was primarily driven by decreased demand from jewelers and stockists. According to the All India Sarafa Association, the cost of 99.9% pure gold fell by ₹1,050, bringing it down to ₹90,200 per 10 grams. Just a day earlier, the metal was priced at ₹91,250.
Changes in Gold Prices
- The price of 99.5% purity gold also saw a drop of ₹1,050, settling at ₹88,750 per 10 grams compared to ₹90,800 the previous day.
- In contrast, silver prices showed a positive trend, rising by ₹500 to reach ₹93,200 per kilogram, an increase from ₹92,700 on Tuesday.
International Market Trends
On the global stage, gold prices rose by over 1% on Thursday. Investors sought the safety of precious metals following the U.S. government’s announcement of increased tariffs on China, the largest consumer of metals worldwide. Although tariffs on other countries have been temporarily paused, the situation has heightened trade tensions.
By 3:00 AM GMT, spot gold had risen to $3,119.18 an ounce, marking its strongest performance since October 2023. Saumil Gandhi, a Senior Analyst at HDFC Securities, noted that gold surpassed the $3,030 mark due to growing fears of a global recession linked to ongoing trade disputes.
Current Gold Prices Across Major Indian Cities
As of April 10, here are the latest gold prices in key cities across India:
- Mumbai: ₹9,044 per gram (24 Carat)
- Delhi: ₹9,059 per gram (24 Carat)
- Kolkata: ₹9,044 per gram (24 Carat)
- Chennai: ₹9,044 per gram (24 Carat)
- Bhubaneswar: ₹9,044 per gram (24 Carat)
- Kota: ₹8,917 per gram (24 Carat)
- Varanasi: ₹9,059 per gram (24 Carat)
- Lucknow: ₹9,059 per gram (24 Carat)
- Amritsar: ₹9,059 per gram (24 Carat)
- Srinagar: ₹8,934 per gram (24 Carat)
- Patna: ₹9,049 per gram (24 Carat)
As the market continues to react to geopolitical developments, it remains crucial for investors to stay informed about gold and silver prices, especially with emerging economic uncertainties. For more insights into the precious metals market, consider following updates from reputable financial news sources.
