Mon Apr 21 16:10:00 UTC 2025: ## Gold Prices Soar Near ₹1 Lakh Per 10 Grams in Delhi

**New Delhi, [Date]:** Gold prices in Delhi surged to near ₹1 lakh per 10 grams on Monday, driven by increased demand fueled by a weak US dollar and uncertainties surrounding the US-China trade war. The precious metal saw a sharp increase of ₹1,650, nearing the psychological barrier of ₹1 lakh. This year alone, gold prices have risen by ₹20,850 (26.41%) per 10 grams since December 31, 2022. Silver also saw a significant jump, increasing by ₹500 to reach ₹98,500 per kg.

Analysts attribute the price surge to several factors. Satish Donapati, fund manager at Kotak Mahindra AMC, noted considerable volatility in gold and silver prices this year due to trade tensions, anticipated interest rate cuts, geopolitical uncertainties, and the weak dollar. The price increase includes a 6% jump following the US administration’s April 2nd tariff announcement. On the Multi Commodity Exchange, gold futures for June delivery hit a new high of ₹96,875 per 10 grams, a 1.7% increase.

Internationally, spot gold reached a new peak of $3,397.18 per ounce before settling slightly lower. Gold futures globally surpassed the $3,400 psychological mark for the first time, rising by $80 (2.4%). Experts cited trade tariff uncertainty, a weakened US dollar, and rising treasury yields as major contributing factors. Pranav Mer, VP of commodity and currency research at JM Financial Services, highlighted increased buying activity among ETF investors and anticipated festive demand in India as further support.

Kaynat Chainwala, AVP of commodity research at Kotak Securities, pointed to the US dollar reaching a three-year low and President Trump’s threat to remove Federal Reserve Chairman Jerome Powell as reasons behind the increased demand for gold as a safe haven asset. Spot silver in Asian markets climbed by nearly 1% to $32.85 per ounce.

Chintan Mehta, CEO of Abans Financial Services, indicated that market participants are closely watching President Trump’s evolving tariff strategy and its potential economic impact, as well as statements from Federal Open Market Committee (FOMC) members for clues about interest rate direction. He added that any further easing or prolonged uncertainty could further strengthen gold’s appeal as a safe-haven investment.

Read More