Gold prices in India witnessed a record-breaking surge on April 10. After a gradual decline over the past week, prices bounced back sharply. By 10 AM, gold rates soared significantly, with a massive increase of ₹2,940 per 10 grams noted from early morning rates.
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In terms of silver, the prices also experienced a sharp rise, increasing by ₹2,000 per kilogram within just a few hours. At 6 AM, silver was priced at ₹92,900/kg, and by 10 AM, it had jumped to ₹95,000/kg.
City-Wise Gold Price Update
As of the latest update:
- Delhi:
- 22K gold (10 grams) – ₹85,750
- 24K gold (10 grams) – ₹93,530
- Bengaluru:
- 22K gold – ₹85,600
- 24K gold – ₹93,380
- Hyderabad:
- 22K gold – ₹85,600
- 24K gold – ₹93,380
Why Are Gold Prices Rising?
Gold is traditionally considered a safe investment, especially during uncertain economic times. Its demand spikes during wedding seasons, festivals, and financial instability.
The current price surge is driven by multiple global and domestic factors:
- Global market volatility
- Upcoming US elections
- Federal Reserve interest rate decisions
- Increased gold buying by central banks in emerging markets, as per Goldman Sachs
These factors have caused a renewed interest in gold as a hedge against inflation, pushing prices upward.
What’s Next for Gold Prices?
Experts believe that if current trends continue, gold prices may climb further in the coming weeks. Investors are advised to keep a close watch on international economic indicators, central bank policies, and geopolitical tensions that may influence future price movements.