Gold Prices Soar to Record High
Gold prices in India have reached an all-time high. They have crossed the Rs 95,000-mark for the first time in the domestic futures market. On April 16, gold prices jumped to a record peak of Rs 95,090 per 10 grams. Then, prices settled at Rs 95,000, a 1.66% increase.
Why the Surge?
The price hike is attributed to a weaker dollar and ongoing uncertainty surrounding US President Donald Trump’s tariff war. This uncertainty has fueled demand for safe-haven assets like gold. International gold prices also hit a record peak, rising 1.7% to $3,282.88 an ounce. US gold futures gained 1.8% to $3,299.60.
Silver Prices Also Rise
Silver prices in the futures market jumped 1.56% to Rs 96,253 per kilogram on MCX, with an intra-day high of Rs 96,344 per kilogram. Spot silver added 0.5% to $32.45 an ounce.
Expert Predictions
Leading banks, including Goldman Sachs Group Inc., forecast gold prices will continue to rise, reaching $4,000 an ounce by mid-2026. “Gold will continue to be strong,” said Brian Lan, managing director at GoldSilver Central. “This will remain the case as long as there’s uncertainty.”
Market Trends
- Gold: Rs 95,000 per 10 grams in domestic futures market
- Silver: Rs 96,253 per kilogram on MCX
- International Gold: $3,282.88 an ounce
- US Gold Futures: $3,299.60
