Gold prices in India have surged to an all-time high, crossing the ₹95,000 mark per 10 grams for the first time. This historic milestone comes as the global economic landscape faces heightened uncertainties, including a weakening US dollar and the ongoing trade war between major economies.
On April 16, 2025, gold prices on the Multi Commodity Exchange (MCX) reached ₹95,435 per 10 grams, marking a 2.12% increase from the previous close of ₹93,451. The surge is attributed to a 0.65% decline in the US dollar, as reported by Bloomberg’s Dollar Index Spot, and escalating geopolitical tensions. Silver prices also followed suit, hitting ₹96,965 per kilogram before settling at ₹96,500.
In the international market, spot gold climbed 2.7% to $3,314.29 an ounce, with US gold futures rising 2.8% to $3,330.30. Analysts attribute the rally to investors seeking safe-haven assets amidst fears of a global recession, geopolitical instability, and central banks diversifying their reserves away from dollar-based assets.
Ole Hansen, Head of Commodity Strategy at Saxo Bank, commented, “The world is in disarray, with investors turning to gold as a shelter amid recession fears, fiscal debt concerns, and geopolitical tensions.”
The record-breaking performance of gold underscores its enduring appeal as a hedge against economic volatility. As the trade war shows no signs of easing, market experts predict further upward momentum for the precious metal.
Stay tuned for more updates on market trends and economic developments.
