HYDERABAD: Gold prices in India soared to a new all-time high on Friday, April 11, with 24-carat gold reaching ₹93,353 per 10 grams—up by ₹3,192 from the previous price of ₹90,161, according to the India Bullion and Jewellers Association (IBJA).
Alongside gold, silver prices also surged. One kilogram of silver rose by ₹2,260 to ₹92,929, up from ₹90,669 per kg. Notably, silver had touched ₹1,00,934 on March 28, while gold had hit ₹91,205 on April 3.
Gold Prices by Carat (As per IBJA)
- 24 Carat: ₹93,353 per 10g
- 22 Carat and other carat rates: Not specified in the report
Three Reasons Behind the Surge in Gold Prices
1. Rising Global Economic Uncertainty
The threat of a trade war triggered by the US tariff policy has raised fears of a global slowdown. This has led investors worldwide to turn to gold, which is traditionally considered a safe-haven asset during economic downturns.
2. Depreciation of the Indian Rupee
The rupee has weakened nearly 4% this year against the US dollar, making gold imports more expensive. Since India is a major importer of gold, the currency depreciation directly increases domestic prices.
3. Seasonal Demand Ahead of Wedding Season
With the wedding season approaching, demand for gold jewellery is increasing sharply. Jewellers in cities like Mumbai, Delhi, and Chennai have reported strong sales despite high prices, as buyers continue to view gold as both an investment and a symbol of prosperity.
Market analysts expect gold prices to remain volatile but elevated in the coming weeks, driven by geopolitical tensions, currency movements, and domestic demand.
