Gold prices bounced on Thursday morning in the domestic futures market. The rise was helped by positive global cues, a weaker US Dollar, and strong demand for gold in the local market.
At around 9:10 AM, gold futures on the Multi Commodity Exchange (MCX) were up by 1.11% trading at Rs 95,770 per 10 grams. In the spot market, 24-carat gold was selling for Rs 98,513 per 10 grams in Delhi.
Gold Hit ₹1 Lakh This Week, Then Dropped
Earlier this week, on Tuesday (April 22), gold prices touched ₹1 lakh per 10 grams in the retail market. The sharp rise was due to worries about a possible trade war between the United States and China. Investors feared that tensions between the two biggest economies could slow down global economic growth.
“President Trump’s constantly changing trade policies have shaken investor confidence in the US economy. As a result, the US dollar has dropped by 10% this year. That’s been a big factor in pushing gold prices up, ” media reports quoted Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL).
So far in 2025, gold prices have jumped by 30%, reaching a record high of $3,500 per ounce (around ₹1 lakh per 10 grams). However, prices fell sharply by $200 (about ₹4,000) recently as investors turned more confident and started buying riskier assets again.
Is it Right Time to buy or sell Gold ?
Jateen Trivedi, Vice President and Research Analyst for Commodities and Currencies at LKP Securities, told Mint, that April has been a very unstable month for gold prices. According to him, technical charts are showing signs that the strong upward trend may be slowing down.
He added that in the coming days, gold prices are expected to move between Rs 94,000 and ₹98,000 per 10 grams. However, the market is likely to stay very volatile.
Trivedi also pointed out that the US Dollar Index has started to rise again from the 98.4 level. At the same time, former US President Donald Trump has made statements suggesting that tariff issues with India, Japan, and China might soon be resolved. These developments have reduced gold’s appeal as a “safe-haven” asset, causing prices to dip slightly.
“Because the market is currently very stretched, traders should be extra careful and follow strict risk management,” reports quoted Trivedi.
(Disclaimer: This article is for informational purposes only and not an investment advice. Prior to making an investment or taking a loan, conduct thorough research and consult with your financial advisor.)
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