May 14, 2025 07:29 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Had Indira Gandhi been alive, I would've asked her why PoK was not taken back in Simla Agreement': Himanta Biswa Sarma | India's stand demanding vacation of Pak-occupied Kashmir unchanged: MEA | PM Modi visits Adampur Air Base days after Operation Sindoor | Jammu and Kashmir: Three Lashkar-e-Taiba terrorists killed in encounter with security forces in Shopian | US: Two Indian students die in road mishap in Pennsylvania | Air India, IndiGo cancel flights to 7 airports located in several border cities as safety measure | US, China agree to pause tariff war for 90 days, will slash reciprocal duties by 115 percent | India struck Malir Cantonment in Karachi: IAF's big revelation on Operation Sindoor | Nuclear blackmailing will not be tolerated, Operation Sindoor not over: PM Modi in address to nation | Military bases, equipment, systems operational, ready for next mission if required: Armed Forces on Operation Sindoor
Retail Gold Price
Gold price has seen massive escalation in recent days. Photo Courtesy: Avishek Mitra/IBNS

Gold price hits historic Rs 1 lakh milestone

| @indiablooms | Apr 22, 2025, at 02:14 pm

Gold prices in India crossed the Rs. 1 lakh mark in the retail market on Tuesday, triggering excitement among investors.

The gold June futures on the Multi Commodity Exchange (MCX) on Tuesday rallied to touch a new record high of Rs 99,178 per 10 grams.

It is nearly Rs 1,900 up from its previous closure.

In the physical market, gold was priced at Rs 97,200 per 10 grams on Monday. After including 3% GST, the retail rate crossed the Rs 1 lakh mark, reported India Today.

Why is the gold price rising?

Experts have pointed to heightened global uncertainty due to renewed tensions between President Donald Trump and the US Federal Reserve over rate cuts and the intensifying trade war between the US and China as the key drivers behind the spike.

Comex gold was trading close to $3,395 per troy ounce on Tuesday, marking a sharp upward escalation.

Anuj Gupta, Head - Commodity & Currency at HDFC Securities, told Mint, “The US President Donald Trump's recent criticism of the US Fed Chair Jerome Powell has pulled down the US dollar rates to a three-year low.  This is the major reason for gold prices today climbing to a new peak. However, increasing concerns about a global economic slowdown due to heightened US-China trade tensions is already there to fuel demand for gold as a safe-haven bet.”

Nigel Green, CEO of deVere Group, told the newspaper, “Trump wants rates down—and soon. Powell isn’t budging. That brewing conflict has now burst into the open, and global investors are no longer waiting to see how it ends. The risk is now twofold. First, Powell holds the line, and policy stays restrictive longer than markets had priced. Second, Trump intervenes—publicly or politically—sparking concerns over central bank independence.”

Jateen Trivedi, VP Research Analyst at LKP Securities. told India Today: " Gold prices extended their record-breaking rally as the fresh week kicked off with strong early buying."

“The rally is being supported by escalating tariff tensions, concerns over the US economic outlook, and the looming US debt crisis. Continued buying from China, global central banks, and institutional investors has added momentum," he said.

Analysts believe the gold price would remain volatile.

Rahul Kalantri of Mehta Equities told India Today, “In INR, gold has support at Rs 96,750–96,200 and resistance at Rs 97,050–97,690. Silver’s support lies at Rs 94,680, with resistance near Rs 97,550.”

Gold prices have escalated over 26% or Rs 20,800 per 10 grams so far in 2025.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm