As per the data in Goodreturns, the current gold rates in major Indian cities on April 5 are as follows.
In Delhi, 22-carat gold is priced
around ₹83,250 per 10 grams, while 24-carat gold costs approximately ₹90,081 per 10 grams.
In Mumbai, Chennai and Kolkata, 22-carat gold is available for ₹83,100 per 10 grams and 24-carat gold is priced at ₹90,660 per 10 grams.
On Saturday, the gold prices in foreign markets were trading at $3,037.10.
According to analysts, the price of gold in international markets has been affected by the stock market’s decline (stock market crash) as well as the significant desire for alternative assets. Globally, gold prices have been affected by factors such as central bank purchases, geopolitical tensions, inflation concerns, and potential US interest rate cuts.
According to a report in News18 on Friday, a US-based Morningstar analyst has predicted a 38% drop in the next few years. The current price of 24-carat gold is around ₹91,000 per 10 grams in India and above $3,100 per ounce globally.
However, according to predictions, a potential decline of nearly 40% could bring the price down to around ₹55,000 per 10 grams in the Indian market. A strategist at US-based Morningstar, John Mills, expects the price of gold to drop to $1,820 per ounce from its current price of approximately $3,080 per ounce.
Jateen Trivedi, vice president (research analyst- commodity and currency) of LKP Securities, noted that the downside level for gold prices depends on the geopolitical situation.
“With the tariff premium now largely discounted, further downside pressure may emerge as geopolitical tensions — especially from Russia, Ukraine and the Middle East — remain relatively subdued. This easing of global uncertainty could lead to a softening in safe-haven demand,” added Trivedi.
Kaynat Chainwala, assistant vice president (commodity research) of Kotak Securities, said that COMEX June gold closed 1.4% lower at $3,073.5 per ounce on Thursday.
This decline follows reports that precious metals were excluded from Trump’s ‘reciprocal’ tariffs. However, gold inventories on COMEX have been rising due to concerns that tariffs could still disrupt shipments, Chainwala added.
Meanwhile, silver prices in India witnessed a significant decline, recording at ₹94,000 per kg on Saturday.