Gold Prices Soar Past ₹1 Lakh Mark Amid Wedding Season and Global Economic Jitters – Check Rates in Your City

April 22, 2025 — In an unprecedented surge, gold prices in India crossed the ₹1 lakh mark per 10 grams in the physical market for the first time, driven by global uncertainties including Donald Trump’s tariff policies, a falling US dollar, and fears of a looming economic recession. The steep rise coincides with India’s wedding season, traditionally a high-demand period for gold purchases.

According to the latest data, 24-carat gold reached ₹97,200 per 10 grams, and with 3% GST, the total price jumped to ₹1,00,116 per 10 grams, marking a historic high in the Indian market.

MCX and IBA Gold & Silver Price Highlights (as of April 22, 7 AM)

• MCX Gold (24K): ₹97,352/10 grams (↑ ₹73)

• MCX Silver (999): ₹97,275/kg (↑ ₹238)

• IBA Gold (24K): ₹97,560/10 grams

• IBA Gold (22K): ₹89,430/10 grams

• IBA Silver (999 fine): ₹95,720/kg

City-Wise Gold and Silver Prices April 22, 2025

Mumbai

• Gold (24K): ₹97,380/10g

• Silver: ₹95,540/kg

• MCX Gold: ₹97,352/10g

• MCX Silver: ₹97,275/kg

Chennai

• Gold (24K): ₹94,750/10g

• Silver: ₹95,460/kg

• MCX Gold: ₹97,352/10g

• MCX Silver: ₹97,275/kg

Kolkata

• Gold (24K): ₹94,350/10g

• Silver: ₹95,820/kg

• MCX Gold: ₹97,670/10g

• MCX Silver: ₹97,275/kg

Hyderabad

• Gold (24K): ₹97,540/10g

• Silver: ₹95,690/kg

• MCX Gold: ₹97,352/10g

• MCX Silver: ₹97,275/kg

Bengaluru

• Gold (24K): ₹94,460/10g

• Silver: ₹95,620/kg

• MCX Gold: ₹97,352/10g

• MCX Silver: ₹97,275/kg

New Delhi

• Gold (24K): ₹94,260/10g

• Silver: ₹95,380/kg

• MCX Gold: ₹97,220/10g

• MCX Silver: ₹97,275/kg

Why Are Gold Prices Rising?

Experts attribute this spike to:

• Global economic uncertainty

• Weaker US dollar

• Increased import tariffs by the US under Trump-era trade policy

• Soaring demand during India’s wedding season

With prices reaching historic highs, buyers are advised to monitor daily rates before purchasing, especially for weddings or investment.