Gold hits all time high at ₹ 95,207 per 10 grams; May touch ₹ 1.10 lakh by year-end amid global economic fear

The price of gold made a new all-time high today i.e. on April 16. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased by ₹ 628 to ₹ 95,207.

New Delhi: The price of gold made a new all-time high today i.e. on April 16. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased by ₹ 628 to ₹ 95,207. Earlier, the price of 10 grams of gold was ₹ 94,579.

There is a fall in the price of silver today. The price of one kg silver has fallen by ₹ 936 today to ₹ 95,639 per kg. Earlier, the price of silver was ₹ 96,575 per kg. On March 28, silver had made an all-time high of ₹ 1,00,934.

3 reasons for the rise in gold

  1. The threat of trade war has increased due to America’s tariff policy. This can slow down the pace of economic growth. The fear of global recession has also increased. In such a situation, people are increasing their investment in gold. Gold is considered a safe investment during recession.
  2. The weakening of the rupee against the dollar has led to a rise in gold prices. This is because when the rupee weakens, it costs more money to import it. The rupee has fallen by about 4% this year, which has increased the pressure on gold prices.

  3. With the wedding season approaching, the demand for gold jewellery is on the rise. Jewellers in cities like Mumbai, Delhi and Chennai reported that despite the high prices, sales are brisk as people see gold as an investment and a symbol of prosperity.

Gold price in 4 metro cities and Bhopal

  • Delhi: The price of 10 grams of 22 carat gold is Rs 89,350 and the price of 10 grams of 24 carat gold is Rs 97,460.

  • Mumbai: The price of 10 grams of 22 carat gold is Rs 89,200 and the price of 10 grams of 24 carat gold is Rs 97,310.

  • Kolkata: The price of 10 grams of 22 carat gold is Rs 89,200 and the price of 10 grams of 24 carat gold is Rs 97,310.

  • Chennai: The price of 10 grams of 22 carat gold is Rs 89,200 and the price of 10 grams of 24 carat gold is Rs 97,310.

  • Bhopal: The price of 10 grams of 22 carat gold is Rs 89,250 and the price of 10 grams of 24 carat gold is Rs 97,360.

Gold has become costlier by Rs 19,045 so far this year

This year, i.e. from January 1 till now, the price of 10 grams of 24 carat gold has increased by Rs 19,045 from Rs 76,162 to Rs 95,207. At the same time, the price of silver has also increased by Rs 9,622 from Rs 86,017 per kg to Rs 95,639. Last year, i.e. in 2024, gold became costlier by Rs 12,810.

Gold may reach up to ₹1.10 lakh by the end of the year

Due to the growing trade war between the US and China and fears of recession, gold may reach $3,700 per ounce this year. If calculated according to the international rate, the price of 10 grams of gold in India can go up to Rs 1.10 lakh. Foreign investment bank Goldman Sachs has released this estimate.

Buy only certified gold

Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number or HUID. This number is alphanumeric i.e. something like this- AZ4524. Through hallmarking, it is possible to find out how many carats a gold has.