Gold prices in India moved sharply higher on April 1, reflecting strong demand as investors turned cautious amid global uncertainties. Silver prices also edged up, although the trend remained less stable compared to gold.
In the domestic market, 24-carat gold prices climbed to around ₹1.52 lakh per 10 grams, marking a noticeable jump during the day. Similarly, 22-carat gold rose to nearly ₹1.38 lakh per 10 grams across major cities like Delhi and Mumbai. The increase was driven largely by global factors, including a softer US dollar and continued geopolitical tensions, which typically push investors towards safer assets like gold.
The rise in gold prices was not sudden but part of a broader upward trend. Over the past few days, bullion has seen steady gains, supported by expectations that global interest rates may remain stable and that economic uncertainties could persist. This has kept investor interest in gold strong, both globally and in India.
Silver, on the other hand, showed a mixed performance. In the physical market, prices rose slightly by about ₹100, taking the rate to around ₹2.55 lakh per kilogram. However, unlike gold, silver saw some fluctuations during the day, especially in futures trading, where prices moved up and down due to profit booking and changing global cues.
Market experts say that both gold and silver are currently being influenced by global developments, especially geopolitical tensions and movements in crude oil prices. While gold is benefiting more clearly from its safe-haven appeal, silver is reacting to both industrial demand and investment trends, making its movement less predictable.
Also Read: Sensex falls 1,500 points, Nifty slips below 22,250