Gold Rate In India Today, March 29: Record-Breaking Surge In 24K, 22K, 18K Gold; Check Gold Rates In Your City

Gold prices in India surged 1.7% this week, after the fourth consecutive rise as the strong rally persists. Earlier in the week, prices had dipped, causing concern, but the recent rebound has brought relief to investors. For the first time in history, the 24-carat gold rate in India has crossed the Rs. Rs.91,000 mark.

The main factor behind this surge is escalating global trade tensions, which have boosted demand for the yellow metal. Additionally, stronger-than-expected February PCE index data could influence the Federal Reserve's decision on interest rates. Meanwhile, the U.S. dollar index has slipped to a three-month low, further supporting gold prices.

Gold Rate in India Today

On Saturday, March 29, the pure gold, or 24-carat gold rate in India surged Rs. 220 per 10 grams to cost Rs. 91,200. The 22-carat gold rate in India now retails at Rs. 83,600 per 10 grams, which jumped by Rs. 200 per 10 grams. Just like that, the 18-carat gold rate in India jumped by Rs. 160 per 10 grams to stand at Rs. 68,400.

And just like that, the higher quantities of gold also experienced this sharp rally, where the 100 grams of 24-carat gold rates now cost Rs. 9,12,000 after surging Rs. 2,200. While the 22-carat gold price jumped Rs. 2000 to cost Rs. 8,36,000 per 100 grams

Silver prices in India today

Silver rates in India today extend a decline after a strong rally mirroring the gold rates. 1 kg of silver in India costs Rs. 1,04,000 after declining Rs. 1000. While 100g of silver rates in India retails at Rs. 10,400.

Gold Prices Today in Chennai, Bengaluru, Hyderabad, and Mumbai

Gold Prices Rally Across Major Indian Cities: Latest Rates in Chennai, Bengaluru, Hyderabad, and Mumbai Are as Follows:

Chennai: 24-carat gold in rate in Chennai is currently at ₹91,200 per 10 grams, while 22-carat gold costs Rs. 83,600 per 10 grams.

Hyderabad: The gold rates in Hyderabad remain the same, with 22-carat gold at Rs. 83,600 per 10 grams and 24-carat gold at Rs. 91,200 per 10 grams.

Mumbai: The price of 22-carat gold rates in Mumbai stands at Rs. 83,600 per 10 grams, while 24-carat gold is selling for Rs. 91,200 per 10 grams.

MCX Gold and Silver Futures Prices Today

At the end of Friday's trading hours, gold futures prices on the MCX, which are going to mature on April 4, 2025, jumped remarkably and closed at Rs. 88,850 with 0.05% gains. Similarly, silver futures prices set to mature on May 5, 2025, Closed in the green zone at Rs. 1,00,480 after rising by 0.02%.

Spot Gold Price and Spot Silver Rate

According to a Reuters report, spot gold rose 0.6% to $3,074.43 an ounce as of 2:41 p.m. EDT (1839 GMT) after touching a new all-time high of $3,086.70 earlier in the session. Meanwhile, U.S. gold futures settled 0.8% higher at $3,114.30. In contrast, spot silver dropped 1.4% to $33.93 an ounce."

Gold price Outlook Ahead

"Gold rose to a new record high on Thursday after US President Donald Trump announced tariffs on all auto imports, while Goldman Sachs Group Inc. ramped up its bullion price forecast to $3,300 an ounce by year-end. The precious metal gained as much as 1.3% to $3,059.63 on Thursday, surpassing the previous record hit a week ago. Trump signed a proclamation to implement a "permanent" 25% tariff on all cars not made in the US, intensifying trade tensions and bolstering haven demand. Goldman cited higher-than-expected central bank demand and strong inflows into bullion-backed exchange-traded funds as driving its increasingly bullish view. Trump's shifting messaging on his tariff agenda has added volatility into global markets. That's contributed to gold's 16% gain so far this year, along with central-bank buying, geopolitical uncertainty and bets on more Federal Reserve monetary easing. Trump said some reciprocal duties set to be announced next week would be "very lenient". The president also said he would consider lowering tariffs on China to secure Beijing's support for a sale of TikTok's US operations to a local company." as per the Nirmal Bang Securities Research Report

Fundamental Outlook: Gold and silver prices are trading slightly higher today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day, as concerns about a widening trade war remained front of mind for investors after President Donald Trump pushed ahead with US tariffs on all auto imports.

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