The Gold Rate in India Today witnessed a sharp rise on Tuesday as prices of 24 karat, 22 karat, and 18 karat gold moved higher across the country. Silver prices also recorded a significant jump amid continued weakness in the Indian Rupee and rising global uncertainty.
The renewed rally in precious metals comes after the Indian Rupee slipped to a fresh all-time low against the US Dollar, boosting domestic bullion sentiment ahead of Wednesday’s trading session.
Gold Rate in India Today Sees Strong Uptick
According to market data, the Gold Rate in India Today for 24 karat gold increased by Rs 54 per gram, taking the price to Rs 15,398 per gram. On a per 10 gram basis, 24 karat gold surged by Rs 540 to reach Rs 1,53,980.
Similarly, 22 karat gold prices rose by Rs 50 per gram to Rs 14,115 per gram. This pushed the price of 10 grams of 22 karat gold to Rs 1,41,150.
The price of 18 karat gold also moved higher, climbing by Rs 41 per gram to Rs 11,549.
Market experts believe the rise in the Gold Rate in India Today is largely linked to the weakening Rupee and increased investor interest in safe-haven assets amid global tensions.
Silver Prices Also Jump Sharply
Silver prices in India also witnessed a major increase on Tuesday. The domestic silver rate climbed to Rs 290 per gram and Rs 2,90,000 per kilogram.
The rise in silver prices mirrored gains in the international precious metals market, where investor demand remained strong amid uncertainty in global financial markets.
Also read : Gold Silver Prices Today: 24K Gold Falls Again, Silver Remains At Rs 2.75 Lakh/kg
International Gold Prices Remain Volatile
International gold prices slipped to around $4,700 per ounce on Tuesday after recently touching a four-week high. Analysts said the decline came as peace negotiations between the United States and Iran failed to make progress, increasing geopolitical concerns worldwide.
At the same time, the Indian Rupee weakened further and touched a fresh all-time low of Rs 95.73 against the US Dollar, adding pressure on import costs and supporting domestic bullion prices.
Experts noted that while international gold rates remain volatile, the weak Rupee continues to support the Gold Rate in India Today in the domestic market.
Gold Price Outlook for May 13
Analysts expect the Gold Rate in India Today to remain volatile during Wednesday’s trading session. However, if the Indian Rupee continues to remain weak, gold prices may maintain an upward trend.
Market observers also believe geopolitical tensions, crude oil price movements, US interest rate expectations, and bond yields will continue to influence gold prices in the coming weeks.
According to experts, short-term volatility in gold prices could remain within a range of around 5 percent. However, rupee depreciation is expected to cushion the downside for Indian investors compared to international markets.
With global uncertainty and currency weakness continuing to dominate sentiment, the Gold Rate in India Today is likely to remain in focus for investors and bullion traders alike.