Gold prices in India rose significantly today, reversing a broader downward trend seen earlier this month, as stronger global cues and geopolitical uncertainty pushed bullion rates higher. According to data compiled by FXStreet, gold was priced at ₹13,870.05 per gram, up from ₹13,556.28 on Tuesday, reflecting a clear uptick in market sentiment.
The rise was also evident across other standard measures, with prices climbing to ₹1,38,700.50 per 10 grams and ₹1,61,777.60 per tola, compared with ₹1,58,117.80 a day earlier. On the international scale, gold stood at ₹4,31,407.20 per troy ounce. These figures are calculated by adapting global prices to Indian currency and measurement standards, with daily updates based on prevailing market rates.
Strong Recovery After March Slump
The rebound comes after gold and silver prices faced sustained pressure throughout March, declining by 12 to 17 per cent and hitting their lowest levels since early January. The downturn was largely attributed to ongoing conflict in West Asia, which began on February 28 with US-Israeli military actions against Iran. The situation heightened uncertainty around inflation, energy prices, interest rates, and currency movements, weighing heavily on bullion markets.
However, today, both gold and silver opened on a stronger footing in India, tracking a surge in international bullion markets that helped offset weeks of losses. Market sentiment, while still cautious, showed signs of stabilisation as investors returned to gold amid global volatility.
Carat-Wise Price Movement Across India
The increase was consistent across purity levels. The price of 24-carat gold stood at ₹14,667 per gram, marking a rise of ₹376 from the previous day. Similarly, 22-carat gold was priced at ₹13,445 per gram, up by ₹345, while 18-carat gold reached ₹11,001 per gram, gaining ₹282.
Higher purity gold, particularly 24-carat, continues to be preferred for investment purposes due to its intrinsic value, while 22-carat and 18-carat variants remain popular in jewellery manufacturing.
City-Wise Variations Reflect Local Demand
Gold prices varied slightly across major Indian cities. Chennai recorded the highest rate for 24-carat gold at ₹14,837 per gram, while Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune saw prices at ₹14,667. In Delhi, gold was priced marginally higher at ₹14,682 per gram. Similar variations were observed in 22-carat and 18-carat categories, reflecting local demand patterns and minor logistical differences.
Factors Driving Gold Prices
A combination of international market trends, import duties, taxation, and fluctuations in the rupee against the US dollar influences gold prices in India. The ongoing geopolitical tensions have further complicated the outlook, particularly with disruptions such as the blockage of the Strait of Hormuz, pushing up crude oil and fuel prices. These developments have a cascading effect on inflation expectations and currency stability, both of which directly impact bullion prices.
Traditionally regarded as a safe-haven asset, gold tends to attract investors during periods of economic and geopolitical uncertainty. Its role as a hedge against inflation and currency depreciation continues to underpin demand, especially when global markets remain volatile.
Despite the current recovery, the broader outlook for gold remains closely tied to unfolding geopolitical developments and macroeconomic signals, keeping investors watchful in the days ahead.