Gold Prices Cross ₹1 Lakh Mark Amid Global Economic Fears

Mumbai :In a historic development, gold prices in India soared past the ₹1 lakh mark on Tuesday, April 22, 2025, fueled by growing global economic uncertainties and heightened fears of a recession in major economies, including the United States. The price of 24-carat gold reached ₹1,01,350 per 10 grams in Mumbai, while 22-carat gold was priced at ₹92,900 per 10 grams.

The sharp rise mirrors international trends, with COMEX gold trading near USD 3,500 per ounce — its highest-ever level. Analysts attribute the surge to rising safe-haven demand as investors move away from equities amid geopolitical tensions and economic slowdowns.

City-wise Gold Prices on April 22, 2025:

• Delhi:

  • 22-carat: ₹93,050 per 10 grams

  • 24-carat: ₹1,01,500 per 10 grams

• Mumbai:

  • 22-carat: ₹92,900 per 10 grams

  • 24-carat: ₹1,01,350 per 10 grams

• Chennai:

  • 22-carat: ₹92,900 per 10 grams

  • 24-carat: ₹1,01,350 per 10 grams

• Kolkata:

  • 22-carat: ₹92,900 per 10 grams

  • 24-carat: ₹1,01,350 per 10 grams

Silver Also Crosses ₹1 Lakh

Following gold, silver prices also breached the ₹1 lakh barrier, with rates in Mumbai touching ₹1,01,000 per kilogram. This marks one of the highest silver price points in recent years, driven by industrial demand and investment interest.

Market Trends on MCX

On the Multi Commodity Exchange (MCX):

• Gold futures for June 5, 2025, jumped 1.84% to ₹99,065 per 10 grams.

• Silver futures for May 5 delivery rose 0.66% to ₹95,873 per kilogram.

Global Bullion Movement

• Gold on COMEX: Up 2.02% at USD 3,494.60/oz

• Silver on COMEX: Up 0.90% at USD 32.85/oz

What’s Driving the Surge?

Experts say the price rally is being driven by a confluence of factors:

• Mounting fears of a global recession, particularly in the US.

• Weakening dollar index, which makes gold more attractive.

• Ongoing geopolitical tensions, including conflicts in Eastern Europe and the Middle East.

• Central banks increasing gold reserves as a hedge against inflation.

Outlook

With continued volatility in global markets, analysts expect bullion prices to remain elevated in the near term. Retail demand in India may temporarily cool due to high prices, but investment interest remains strong, especially with the wedding season underway.