As India celebrates Holika Dahan, gold prices in India have jumped significantly, reflecting strong demand and global market trends. The 22K gold price today has surged past Rs.80,000 per 10 grams, while 24K gold price in India has crossed Rs.88,000 per 10 grams. The sharp rise in gold rates today follows the release of cooler-than-expected U.S. inflation data, which has strengthened expectations of Federal Reserve rate cuts, further boosting gold prices now globally. Investors continue to turn to gold as a safe-haven asset, driving demand amid economic uncertainties.

Gold Price in India Today

As of 13th March, the 24-carat gold prices in India rose by Rs.600 per 10 grams, reaching Rs. 88,580. Similarly, the 22-carat gold rates in India increased by Rs.550 per 10 grams, now standing at Rs 81,200. On the other hand, 18-carat gold rates in India currently stand at Rs. 66,440, which is up by Rs. 450.

For bulkier quantities, 100 grams of 22-carat gold price now cost Rs. 812,000, which has risen by Rs. 5,500, while the 100 grams of 24-carat gold rates are now priced at Rs. 885,800 with an increase of Rs. 6,000.

Silver rates in India today

Silver prices in India on 12th March jumped massively, bringing silver prices back to above 1 lakh per kg. Silver rates in India today per kilogram cost Rs. 1,01,000 per kg after a rise of Rs. 1000. The price of 100 grams of silver was Rs. 10,100, which increased by Rs. 100.

MCX Gold and Silver Futures Prices

Gold prices on the MCX (Multi Commodity Exchange) rose in the early trading hours. Currently, gold futures prices due to mature on April 4, 2025, jumped by 0.07% to Rs.86,750. Silver futures, with an expiration date of May 5, 2025, saw a decline this morning, trading 0.37% higher at Rs. 99,109.

International Gold and Silver Price Update

According to Reuters, spot gold climbed 0.4% to $2,943.66 per ounce as of 0300 GMT, while U.S. gold futures rose 0.2% to $2,951.90 per ounce. Spot silver also inched up 0.1% to $33.26 per ounce. Gold prices advanced on Thursday, driven by safe-haven demand amid uncertainty over tariffs, while a cooler-than-expected U.S. inflation report reinforced expectations of Federal Reserve rate cuts, further supporting bullion prices.

Factors Affecting Gold Price in India & Outlook Ahead

“Gold prices edged higher as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-than-expected U.S. inflation print also supported bullion by strengthening expectations of rate cuts. Data showed that the U.S. CPI increased less than expected last month, reported at 2.8% against the previous month of 3%. However, the backdrop of aggressive tariffs on imports that are expected to raise the cost of most goods in the months ahead is keeping the overall inflation expectations higher in the market. President Trump early this month triggered a trade war, increasing tariffs on goods from China to 20% and imposing a new 25% duty on Canadian and Mexican imports, before dialing back and providing a one-month exemption for some goods that meet the rules of origin under the U.S.-Mexico-Canada Agreement on trade. Trump also reversed course on a pledge to double tariffs on steel and aluminum from Canada to 50%, hours after announcing the higher tariffs. Along with a possible change in rate cut expectations, market participants will also keep an eye on US PPI data scheduled later today.” said Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.