Gold Hits Historic High — Wedding Season Buyers Feel the Burn
Retail buyers hit as festive, wedding season nears; silver also crosses ₹1 lakh per kg.
22 April 2025, New Delhi
New Delhi, April 21: Gold prices in India surged to an all-time high on Monday, with 24-carat gold inching closer to the ₹100,000 mark per 10 grams. The yellow metal rose sharply by ₹770, taking the price to ₹98,350 per 10 grams. This marks a significant milestone for the Indian bullion market, driven by strong global cues and increased investor interest.
For the first time, the price of 22-carat gold breached the ₹90,000 level, climbing by ₹700 to settle at ₹90,150 per 10 grams. The steep rise comes at the start of a new trading week, following a brief pause over the weekend.
The ongoing rally has brought significant gains for investors, with gold appreciating over 26% so far in 2025. However, soaring prices are weighing heavily on retail consumers, particularly amid the upcoming wedding and festival season, where gold jewelry demand traditionally sees a sharp uptick.
Gold of poorer quality has also seen a significant increase. 18-carat gold prices increased by ₹570 to ₹73,760 per 10 grams. Accordingly, 100 grams of 24-carat gold is now priced at ₹983,500, while 22-carat gold of the same quantity costs ₹9,01,500.
Silver Crosses ₹1 Lakh per Kilogram
Mirroring the trend in gold, silver prices also saw a significant upward movement. On Monday, silver prices rose by ₹1,000 to ₹1,01,000 per kilogram. The rate for 100 grams of silver now stands at ₹10,100, up by ₹100 from the previous session.
City-Wise Gold Prices on April 21
Gold rates remained uniformly high across major cities:
Delhi: ₹98,533 (24K) | ₹91,150 (22K) per 10 grams
Mumbai: ₹98,350 (24K) | ₹90,150 (22K)
Chennai: ₹98,350 (24K) | ₹90,150 (22K)
Bangalore: ₹98,350 (24K) | ₹90,150 (22K)
Hyderabad: ₹98,350 (24K) | ₹90,150 (22K)
Futures Market Update
On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery were trading at ₹96,580 per 10 grams, up 1.39%. Silver futures set to mature on May 5 saw a 0.81% rise, reaching ₹95,810 per kilogram.
Analysts at ICICI Direct Research indicated that gold is likely to test ₹96,500 levels as long as it holds above ₹94,400 on the MCX. Silver, meanwhile, is expected to trade within the ₹94,200–₹96,800 band. A breakdown below ₹94,200 could trigger weakness in the silver market, they cautioned.
Precious metals are projected to continue volatile in the short term, with persistent geopolitical concerns, firm international prices, and a weak rupee contributing to the impetus. With persistent geopolitical tensions, firm international prices, and a weak rupee adding to the momentum, precious metals are expected to remain volatile in the near term.
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