Gold prices in India witnessed volatility at the start of the current week, with prices falling on Monday, April 14. Trading in MCX gold and silver will open on April 15, after a three-day holiday. 24K, 22K, and 18K gold prices on Tuesday could be influenced by the performance of international prices that pulled back from their all-time high levels. Comex gold is around the $3,220 per ounce level currently.

On April 14th, during the occasion of Ambedkar Jayanti, Vishu, and Tamil New Year, among other festivals, gold in India got cheaper. 24K gold in 100 grams is down by Rs 1,600 to Rs 9,55,100, while 10-gram gold price slipped by Rs 160 to Rs 95,510. Meanwhile, the 22K gold price dropped by Rs 1,500 to Rs 8,75,500 per 100 grams, followed by a decline of Rs 150 to Rs 87,550 in 10 grams.

Also, the 18K gold price is at Rs 7,16,400 in 100 grams, down by Rs 1,200. Meanwhile, the 10-gram gold price slipped by Rs 120 to Rs 71,600 in the city.

1Kg silver price is at Rs 99,800, while 100 grams and 10 grams of silver are available at Rs 9,980 and Rs 998.

MCX Gold, Silver Prices:

Last week, on April 1, MCX gold price ended at Rs 93,887 per 10 grams, after hitting a new historic high of Rs 93,940 per 10 grams during the trading session. Gold prices surged by 18-19% year-to-date.

Spot Gold Price:

As per Trading Economics, Gold fell to around $3,220 per ounce on Monday, retreating from an all-time high, as trade tensions eased after President Donald Trump granted tariff exemptions on smartphones, computers, and other electronics largely imported from China. However, Commerce Secretary Howard Lutnick on Sunday said that these goods, along with semiconductors, will come under separate tariffs that may be imposed in a month or so, stirring up more uncertainty over Trump’s trade policy.

Trading Economics data further added that, last week, bullion soared to a record $3,245, driven by an intense wave of safe-haven buying amid a deepening trade war between the U.S. and China. In response to Trump’s move to raise tariffs on Chinese goods to 145%, Beijing increased duties on U.S. imports to 125%, which took effect on Saturday. Meanwhile, investors look forward to Fed Chair Jerome Powell’s upcoming speech on Wednesday for further clues on the prospect of rate cuts.

According to Kitco’s report, gold’s outlook remains exceptionally bullish. The precious metal has demonstrated remarkable strength, gaining approximately $350 in just over two months. Even if gold enters a period of price consolidation, fundamental factors suggest prices will likely resume their upward trajectory.

Kitco’s technical market analyst, Gary S. Wagner’s note said, “We project a minimum target of $3,297 for June gold futures, with the highest upside target approaching $3,500 per troy ounce over the next 60 days. With global economic uncertainty and escalating trade tensions continuing to provide strong tailwinds, gold’s status as a premier safe-haven asset appears poised to drive further gains in the coming months.”