Gold and Silver Prices Today (April 2, 2025): Gold prices hit record high of Rs 91,100; Silver surpasses Rs 1 lakh per kg

Gold and Silver Prices Today (April 2, 2025): Gold prices in India declined on Wednesday, with June futures on the Multi Commodity Exchange (MCX) slipping 0.18 per cent to settle at Rs 91,232 per 10 grams, marking the day's high. Meanwhile, silver gained momentum, rising 0.44 per cent to close at Rs 1,00,002 per kilogram.

Gold prices surge on safe-haven demand

Gold prices extended their gains, reflecting a strong rally in international markets. Investors are turning to gold as a hedge against inflation and global uncertainties, particularly amid expectations of US reciprocal tariffs and interest rate cuts by the Federal Reserve.

Spot gold was trading 0.7 per cent higher at $3,131.25 per ounce after touching a record $3,148.88 on Tuesday. US gold futures also climbed 0.4 per cent to $3,159.90 per ounce.

According to Philip Newman, Managing Director at Metals Focus, the ongoing geopolitical tensions and economic slowdown fears are driving investors towards safe-haven assets like gold. Analysts predict that gold could touch $3,300 per ounce in the coming months if economic conditions remain uncertain.

Expert View: Market volatility to persist

Gold and silver markets are experiencing high volatility ahead of the US trade tariff announcements. Manoj Jain, Director at Nivesh, noted, "Gold and silver showed high volatility with some profit-taking ahead of the U.S. trade tariff announcements. Higher trade tariffs could restrict global economic growth and continue to support safe-haven demand for precious metals."

Impact of US Tariffs on Precious Metals

The anticipation of new US tariffs, set to be announced later today, is further fueling volatility in global commodity markets. Experts suggest that these trade measures could trigger higher inflation and slower economic growth, prompting central banks and investors to increase their gold holdings.

Aakash Doshi, Global Head of Gold Strategy at State Street Global Advisors, believes the gold market could test the $3,400 per ounce mark within nine months in a strong bullish scenario.

Domestic gold and silver price outlook

Gold and silver prices in the Indian market remain volatile, influenced by fluctuations in the rupee-dollar exchange rate, central bank purchases, and global trade policies.

• Gold support levels: Rs 90,440 - Rs 90,100
• Gold resistance levels: Rs 91,150 - Rs 91,500
• Silver support levels: Rs 98,800 - Rs 98,150
• Silver resistance levels: Rs 1,00,300 - Rs 1,01,200

Gold Prices in Major Indian Cities (April 2, 2025)

In the domestic market, gold prices per gram stand as follows:

• Mumbai: Rs 9,284 (24K), Rs 8,510 (22K)
• Delhi: Rs 9,284 (24K), Rs 8,510 (22K)
• Chennai: Rs 9,284 (24K), Rs 8,510 (22K)
• Kolkata: Rs 9,284 (24K), Rs 8,510 (22K)
• Bangalore: Rs 9,284 (24K), Rs 8,510 (22K)

Silver Market Trends

Silver prices followed gold’s upward trajectory, with May futures settling at Rs 99,461 per kg, marking a 0.60 per cent decline due to profit booking. Despite short-term corrections, analysts believe silver prices could continue their upward trend, supported by industrial demand and economic uncertainty.

Analysts expect gold and silver prices to remain volatile this week due to fluctuations in the dollar index and trade tariff fears. Investors are advised to watch for key economic data, including US job reports and Federal Reserve policy updates, which could further influence the gold and silver market trends.