Gold Prices in India Skyrocket to Record High Today On April, 11 : Check 24K, 22K Rates
Gold prices in India soared for the second consecutive day on April 11, driven by global economic uncertainty and rising demand for safe-haven assets. The rate for 24-carat gold surged by ₹2,020 per 10 grams to ₹95,400, marking a historic high. Over the past 48 hours, prices have climbed an astonishing ₹49,600 per 100 grams
This dramatic rise comes as global markets reel from escalating trade tensions between the United States and China. The weakening of the US Dollar Index and heightened fears of a potential recession have further fueled demand for gold, pushing both domestic and international prices to unprecedented levels.
According to ICICI Direct’s Commodity Outlook report, “Spot gold prices hit an all-time high at $3,175 per ounce on Thursday amid safe-haven demand and weakness in the US dollar index. Escalating trade tension between the world’s two largest economies has raised fears of recession and increased inflows into safe-haven assets like gold.”
Domestic prices mirrored the global trend. As of Friday:
- 24K gold was priced at ₹95,400 per 10 grams.
- 22K gold surged by ₹1,850 to ₹87,450 per 10 grams.
- 18K gold climbed to ₹71,550 per 10 grams.
In 100-gram segments, 24-carat gold now retails at ₹9,54,000, while 22-carat gold is priced at ₹8,74,500.
Market analysts believe this trend may continue as geopolitical and economic pressures mount. “There is increased volatility across global markets. Investors are pulling out of equities and moving into commodities like gold to hedge against uncertainty,” said a senior market analyst at Geojit Financial Services.
City-wise gold prices reflect a uniform spike:
- In Mumbai, Chennai, Bangalore, and Hyderabad, 24K gold is priced at ₹95,400 and 22K at ₹87,450 per 10 grams.
Meanwhile, silver also saw a mild increase. On Friday, silver rates rose by ₹100 to ₹97,100 per kg. On the Multi Commodity Exchange (MCX), gold futures maturing on June 5 traded at ₹92,920, while silver futures set to mature in May hovered around ₹92,330.
Spot gold on the international market stood at $3,217.78 an ounce early Friday, after briefly touching an all-time peak of $3,219.84. U.S. gold futures were at $3,237.50.
Experts suggest that gold may continue to rally in the near term. “Gold is expected to trade higher amid weakness in the US dollar and safe-haven buying. Escalating trade tensions and the increasing probability of a rate cut will support gold to scale new highs,” ICICI Direct added.
As central banks signal dovish stances and market volatility remains elevated, gold is likely to remain a preferred asset for both institutional and retail investors.
The sharp surge in gold prices shows growing investor anxiety over global economic trends and geopolitical risks. As trade tensions show no signs of easing, and the dollar weakens, gold may continue its upward trajectory in the weeks to come. Investors are advised to stay cautious and track global cues closely.
