According to the All India Sarafa Association, 24 karat gold (99.9% purity) jumped ₹1,650 to reach ₹99,800 per 10 grams in Delhi’s bullion market.
On Friday (April 18), it had closed at ₹98,150. Gold of 99.5% purity also surged ₹1,600 to touch ₹99,300 per 10 grams.
Internationally, spot gold peaked at $3,397.18 per ounce before easing to $3,393.49. Gold futures breached the $3,400 per ounce mark for the first time ever, gaining $80 or 2.4%.
This rise reflects growing investor demand for safe-haven assets.
Gold gains over 26% in 2025 so far
Since December 31, 2024, gold has climbed ₹20,850 per 10 grams — a 26.41% increase. A major chunk of the rally came after April 2, when the US administration announced fresh tariffs, further escalating trade tensions with China.
“Gold and silver prices have surged this year due to trade tensions, rate cut expectations, and a weakening dollar,” said Satish Dondapati, Fund Manager at Kotak Mahindra AMC. “Gold alone has risen more than 6% since April 2.”
“Gold’s rally continues as trade uncertainty, rising Treasury yields, and a weak US dollar drive safe-haven buying,” said Pranav Mer, Vice President, EBG, Commodity & Currency Research at JM Financial Services.
Festive demand and global cues support momentum
ETF buying and expectations of strong festive demand in India are further supporting the price surge.
Kaynat Chainwala, AVP – Commodity Research at Kotak Securities, added, “The US dollar has fallen to a three-year low, and political risks—like President Trump’s threat to remove Fed Chair Jerome Powell—are adding fuel to gold’s upward momentum.”
Chintan Mehta, CEO of Abans Financial Services, said, “Investors are closely watching Trump’s tariff strategy and commentary from FOMC members. Any hint of further easing could sustain gold’s bullish trend.”
–With Reuters and PTI inputs
