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After hitting the Rs 1 lakh target, the 24-carat gold prices on Wednesday decline by Rs 3,000 to Rs 98,350 per 10 gram in Mumbai in the morning.
Gold Prices In India Today, April 23. (AI-generated image)
Gold Rates Today in India: After hitting the Rs 1-lakh mark, 24-carat gold prices on Wednesday declined by Rs 3,000 to Rs 98,350 per 10 gram in Mumbai in the morning. The yellow metal of 22 carats also surged to Rs 90,150 per 10 grams.
The price of silver, however, remained unchanged at Rs 1,01,000 per kg in Mumbai.
Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, “Gold and silver prices experienced heightened volatility in yesterday’s session. Gold surged near the $3,500 per troy ounce mark during early trade, reflecting strong bullish momentum. However, the rally was short-lived. Remarks from US President Donald Trump reassuring markets that the administration is ‘doing fine with China’ and has no plans to replace Fed Chairman Jerome Powell, triggered a wave of profit booking. Following his comments, gold prices corrected sharply, falling over $100 per ounce from the session’s highs.”
Gold prices increased for the past few months amid global economic uncertainties and US recession fears and crossed the Rs 1 lakh mark on Tuesday.
Known for its unmatched purity, 24-carat gold continues to attract buyers seeking premium quality. Meanwhile, 22-carat gold, prized for its durability and timeless charm, remains a favourite among jewellery enthusiasts and investors alike, striking a balance between elegance and practicality.
Analyst expects a correction in gold price could be on the horizon. A potential trigger, he adds, for correction could be profit booking by large institutions. While the long-term outlook remains bullish, such a correction would likely be a healthy pullback—more of a buying opportunity than a sign of weakness.
Here’s a detailed breakdown of gold prices across key cities (April 23, 2025):
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 90,300 | Rs 98,500 |
| Jaipur | Rs 90,300 | Rs 98,500 |
| Ahmedabad | Rs 90,200 | Rs 1,01,400 |
| Patna | Rs 90,200 | Rs 98,400 |
| Mumbai | Rs 90,150 | Rs 98,400 |
| Hyderabad | Rs 90,150 | Rs 98,350 |
| Chennai | Rs 90,150 | Rs 98,350 |
| Bengaluru | Rs 90,150 | Rs 98,350 |
| Kolkata | Rs 90,150 | Rs 98,350 |
Silver Price In India Today (April 23, 2025)
The price of silver remained unchanged above its Rs 1 lakh level to trade at Rs 1,01,000 per kg in Mumbai., according to goodreturns.in.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.