Gold is priced at ₹88,100 per 10 grams (24 carat) on March 27, according to data on the Indian Bullion Association (IBA). However, 22 carat gold is priced at ₹80,758/10 gms.
On the MCX index, price of the yellow metal in India is at ₹87,661/10gm, which is up by ₹23 from the previous day. Silver meanwhile, is priced at ₹99,730/kg (Silver 999 Fine) at 9 AM.
Gold rates climbed in Indian futures market on Thursday, supported by mounting concerns over Donald Trump's reciprocal tariffs, which are to be implemented from April 2. MCX Gold April 4 contracts were up 0.35 percent at ₹87,949 per 10 grams at 9:20 AM.
In Kerala, the price of gold per sovereign (8 gram)rose to Rs 65,880 from the previous day's Rs 65, 660.
Raising concerns over the possibility of a deeper trade war, Trump, on Wednesday, announced he would levy a 25 per cent tariff on auto imports to bring more manufacturing jobs to the US. Trump had earlier announced a fresh round of tariffs will come into effect on April 2, As the April 2 tariff deadline looms, investors fear that the wide-ranging tariffs could drive up inflation and high economic growth.
Heightened concerns over the economic impact of Trump's tariffs and a major trade war have kept gold prices at higher levels this year. Domestic spot gold prices have surged 15 percent so far in calendar year 2025.
Experts believe uncertainty over the impact of the ongoing trade war on global economic growth and expectations of US Fed rate cuts this year will keep gold prices at elevated levels this year, with intermittent profit bookings.
According to a Reuters report, "Goldman Sachs on Wednesday raised its end-2025 gold price forecast to $3,300 per ounce from $3,100, citing stronger-than-expected ETF inflows and sustained central bank demand."
While some speculate that Trump’s tariffs may be more lenient, investors remain cautious about how the situation will unfold next week.
The focus is also on the Fed's preferred inflation gauge--US personal consumption expenditures (PCE) data--due on Friday, which could influence expectations on the US interest rate trajectory.
Gold bullion rates—₹88,230/10 gm.
MCX Gold rate—₹87,950/10 gm
Silver bullion rate--₹99,790/kg
MCX Silver 999 rate —₹99,716/kg
(By arrangement with livemint.com)
