Gold prices in India will be driven by the sharper-than-expected easing in the country’s CPI inflation data. Also, US inflation came in softer. The latest inflation print brings relief to investors as hopes for further rate cuts heightened from both RBI and the Federal Reserve. Amidst global trade tensions and geopolitical uncertainty, 24K, 22K and 18K gold prices surged sharply.

Gold Prices In India:

24K gold price in 100 grams surged by Rs 4,900 to Rs 8,79,800, and 10 grams price was up by Rs 490 to Rs 87,980.

Along similar lines, 22K gold price jumped by Rs 4,500 to Rs 8,06,500 in 100 grams, and 10 grams gold is up by Rs 450 to Rs 80,650.

Also, 18K gold prices are up by Rs 3,700 and Rs 370 in 100 grams and 10 grams to Rs 6,59,900 and Rs 65,990 on March 12, ahead of Holika Dahan which will be celebrated in India on March 13.

Silver Prices In India:

Silver prices in India is currently at Rs 1,00,100 per 1kg, while 1 gram is at Rs 100.10. Notably, 100 grams and 10 grams of silver is priced at Rs 10,010 and Rs 1,001 respectively.

MCX Gold, Silver Prices:

MCX gold futures, with April 2025 expiry, stood at Rs 86, 640 per 10 grams, down by Rs 46 after market hours on March 12. While MCX silver futures, with May 2025 expiry, ended at Rs 99,350 per 1kg, lower by Rs 126.

Spot Gold Price:

As per Trading Economics data, spot gold steadied above $2,910 per ounce on Wednesday, holding a 1% gain from the previous session, sustained by its safe-haven appeal and weaker US dollar. On Tuesday, President Donald Trump walked back his trade-war threat against Ontario, hours after vowing to double tariffs on Canadian steel and aluminum to 50%, while Ontario Premier Doug Ford temporarily suspended a planned 25% surcharge on US electricity exports.

What Will Impact Gold, Silver Prices On March 13?

Trading Economics highlighted that the ongoing global trade uncertainties, combined with heightened concerns over a US tariff-induced recession, continued to drive investors toward safety assets. However, geopolitical risk premiums eased after the US agreed to resume military aid and intelligence sharing with Ukraine following Kyiv’s acceptance of a US-proposed 30-day ceasefire with Russia.

Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities said, that CPI data will be crucial in shaping expectations for future Fed rate decisions, which could influence gold’s movement in the coming sessions. ETF inflows supporting the bullish sentiment. Additionally, cooling US CPI data raised expectations of a potential rate cut from the Fed, further boosting gold’s appeal. The expected trading range for gold is Rs 85,000-Rs 86,500.

India’s consumer price index (CPI) inflation cooled sharper than expected to 3.61% in February 2025, which takes the indicator to a seven-month low. CPI is now well within RBI’s main inflation target of 4%, warranting a possibility of yet another 25 bps rate cut from the central bank in the upcoming April 2025 policy.

Moreover, US CPI inflation increased 0.2 percent on a seasonally adjusted basis in February, after rising 0.5 per cent in January, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all-items index increased by 2.8 per cent before seasonal adjustment.

The precious metal is one of the prominent liquid assets and it comes in handy at turbulent times. The yellow metal acts as a hedge against inflation and currency debasement. Apart from this, the metal outshines when equities and debt tumble in the stock markets. India which is the gold loving county has greater affinity towards the metal and has occupied second position when it comes to consumption globally. It has a dual nature as an investment option and a luxury good. The value of metal has grown phenomenally over the years and hence the metal is one of the safest bet to invest in as an asset.