New Delhi : The gold rates in India witnessed a sharp surge on Wednesday, March 25, driven by positive global cues and rising geopolitical developments involving the United States, Israel, and Iran. After a recent steep correction, the precious metal rebounded strongly, reflecting renewed investor interest and market optimism.
Sharp Rise in Gold Rates in India Across Carats
The gold rates in India saw significant gains across all purity levels. The price of 24-carat gold jumped by ₹3,760 to ₹1,46,670 per 10 grams, while 100 grams surged by ₹37,600 to ₹14,66,700. Similarly, 22-carat gold climbed to ₹1,34,450 per 10 grams, and 18-carat gold rose to ₹1,10,010 per 10 grams.
Smaller quantities also reflected the upward trend, with 1 gram of 24-carat gold priced at ₹14,667 and 8 grams at ₹1,17,336, indicating a broad-based rally in the bullion market.
Also read : Gold Rate in India Drops Steeply Across 24K, 22K and 18K Segments
City-Wise Gold Price Movement
The surge in gold rates in India was visible across major cities. In Chennai, 24-carat gold touched ₹1,48,370 per 10 grams, while in Delhi, it reached ₹1,46,820. Cities like Mumbai, Bengaluru, and Hyderabad also reported similar gains, reflecting a nationwide uptrend.
Why Gold Prices Are Rising
Experts suggest that the recent spike in gold rates in India is largely influenced by global geopolitical signals. According to the India Bullion & Jewellers Association (IBJA), earlier declines were due to reduced risk aversion, but the current rally indicates renewed buying interest amid uncertainty.
Additionally, weakening crude oil prices and firm US dollar levels have contributed to short-term fluctuations, while investors continue to track developments around the Strait of Hormuz and potential peace talks.
Silver Prices Also See Strong Gains
Alongside gold, silver prices also witnessed a notable increase. The price of 1 kg silver jumped by ₹15,000 to ₹2.50 lakh, while smaller denominations saw proportional gains. In cities like Chennai and Hyderabad, silver prices reached ₹2.60 lakh per kg, slightly higher than other metros.
Global Market Impact
Globally, spot gold prices rose by around 2% to trade above $4,600 per ounce, while silver gained nearly 3%. Reports of potential ceasefire talks and diplomatic efforts between the US and Iran have boosted investor sentiment, leading to increased demand for safe-haven assets like gold.
Outlook Remains Volatile
While the rally in gold rates in India reflects strong market sentiment, experts caution that volatility may persist. Factors such as global economic trends, geopolitical tensions, and industrial demand for silver will continue to influence price movements in the coming days.