Gold & Silver Rates Today, 24 April 2025: Gold jumps to Rs 96,188 per 10g; silver slips to Rs 97,685/kg

Gold & Silver Rates Today, 24 April 2025: Gold prices rebounded in domestic trade on Thursday, 24 April 2025, even as international markets remained under pressure due to easing US-China trade tensions. On the Multi Commodity Exchange (MCX), June gold futures rose by 1.35 per cent or Rs 1,279, closing at Rs 96,188 per 10 grams. In contrast, silver futures for May delivery slipped by 0.24 per cent or Rs 238 to settle at Rs 97,685 per kilogram.

The uptick in domestic gold prices followed a volatile trading session globally, where gold saw its steepest single-day fall in five years after US President Donald Trump indicated a softening stance on China tariffs. The statement helped lift investor sentiment, pushing U.S. equities higher and strengthening the dollar — both of which weighed on the precious metal.

US Treasury Secretary Scott Bessent also said that the current level of tariffs between the two countries was unsustainable, a move perceived by markets as a potential thaw in ongoing trade tensions. Meanwhile, Trump also rolled back on threats to fire Federal Reserve Chair Jerome Powell, further calming market nerves.

In international trade, gold June futures settled at $3,294.10 per troy ounce, down 3.66 per cent, while silver May futures ended 1.95 per cent higher at $33.547 per troy ounce. Domestically, gold futures closed lower on Wednesday at Rs 94,722 per 10 grams (down 2.69 per cent), while silver ended higher at Rs 97,799 per kilogram (up 2 per cent).

According to Manoj Jain, Director at India Nivesh, “Volatility was high in both gold and silver after Trump’s comments on easing China tariffs and retaining the Fed Chair. This triggered profit booking in gold, though silver showed resilience, backed by stronger US housing and manufacturing data.”

Global Markets Rally as Trade War Concerns Ease

Investor optimism spilled over into equity markets, with major indices posting sharp gains. The Dow Jones Industrial Average jumped 419.59 points (1.07 per cent) to 39,606.57, the S&P 500 added 88.10 points (1.67 per cent) to 5,375.86, and the Nasdaq Composite climbed 407.63 points (2.50 per cent) to 16,708.05.

Tesla shares rose 5.4 per cent despite missing quarterly estimates, as CEO Elon Musk announced plans to cut back his governmental commitments to focus on company operations. Boeing also helped boost sentiment with a smaller-than-expected loss, sending its stock up 6.1 per cent.

Gold, often considered a hedge during uncertain times, fell sharply as risk sentiment improved. Spot gold slipped 3 per cent to $3,281.6 an ounce, while the US dollar index surged 0.98 per cent to settle at 99.70. The rupee weakened amid high volatility and geopolitical tensions, with USD-INR April futures closing at 85.4650 (up 0.27 per cent).

Technical outlook and forecast

Gold is expected to remain volatile this week, with support seen at $3,264–$3,220 and resistance around $3,330–$3,374 per troy ounce. Silver support lies at $33.20–$32.84, while resistance is seen at $33.88–$34.40. On MCX, gold may find support at Rs 94,000–93,350 and resistance at Rs 95,400–96,100. Silver could find support at Rs 96,950–96,200 and resistance at Rs 98,500–99,400.

India Nivesh recommends buying silver near Rs 97,400 with a stop loss at Rs 96,600, targeting Rs 99,000.

Retail Gold Prices Across Major Indian Cities (April 23, 2025):

Gold Price in Mumbai:

In Mumbai, the price of 24-karat gold stood at Rs 9,834 per gram, while 22-karat gold was priced at Rs 9,014 per gram.

Gold Price in Delhi:

The national capital recorded 24K gold at Rs 9,834 per gram, with 22K gold available at Rs 9,029 per gram.

Gold Price in Chennai:

Gold rates in Chennai were slightly lower, with 24K gold at Rs 9,834 per gram and 22K gold at Rs 9,014 per gram.

Gold Price in Kolkata:

In Kolkata, 24-karat gold was priced at Rs 9,834 per gram, and 22-karat gold was selling at Rs 9,014 per gram.

Gold Price in Bengaluru:

Bengaluru saw 24K gold trading at Rs 9,834 per gram, while 22K gold was available at Rs 9,014 per gram.