The ongoing tariff spat, spearheaded by the US under former President Donald Trump and retaliation from China, has roiled global markets.
On Saturday, April 6, 2025, gold and silver prices surged across India, with Multi Commodity Exchange (MCX) gold trading at Rs 88,130 per 10 grams, and silver at Rs 92,403 per kg, amid heightened global trade tensions. According to the Indian Bullion Association (IBA), 24-carat gold stood at Rs 90,360 per 10 grams while silver (999 fine) was priced at Rs 87,720 per kg at 6:40 am. The surge follows fears of escalating tariff battles led by China and the United States, pushing investors towards precious metals as safe-haven assets.
City-wise Gold & Silver Price Highlights
New Delhi
- Gold (24K Bullion): Rs 90,040/10 gm
Mumbai
- Gold (24K Bullion): Rs 90,200/10 gm
Chennai
- Gold (24K Bullion): Rs 90,460/10 gm
Hyderabad
- Gold (24K Bullion): Rs 90,340/10 gm
Kolkata
- Gold (24K Bullion): Rs 90,080/10 gm
Bengaluru
- Gold (24K Bullion): Rs 90,270/10 gm
Notably, although commodity exchanges are shut over the weekend, the prices reflect Friday’s closing values (April 4), per standard market practice.
Market Context:
The ongoing tariff spat, spearheaded by the US under former President Donald Trump and retaliation from China, has roiled global markets. As per analysts, rising uncertainty is prompting institutional and retail investors alike to hedge against inflation and geopolitical instability through gold and silver. A Goldman Sachs report cited a 5.5 per cent cut in crude oil forecasts owing to the same macro tensions.
Investors are advised to monitor policy shifts closely. Safe-haven buying is expected to stay firm if trade hostilities continue, especially with central banks globally already stockpiling gold.