Jobaaj Stories
Gold Rate Today: ₹1 Lakh Per 10 Grams in India!
Gold prices in India have skyrocketed, hitting a record high of ₹1 lakh per 10 grams of 24K gold in major cities like Delhi and Mumbai on April 23rd, 2025. This unprecedented surge, ahead of the auspicious Akshaya Tritiya festival, has left many wondering what's behind this dramatic increase and what it means for buyers and investors.
City-Wise Gold Rates (April 23, 2025 - Per 10 Grams)
The prices below are estimates and may vary slightly depending on the jeweler and location:
- Delhi: 22K - ₹93,050; 24K - ₹1,01,500
- Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad: 22K - ₹92,900; 24K - ₹1,01,350
Note: These rates exclude making charges and taxes.
Why the Surge?
Several factors contribute to this gold rush:
- Global Economic Uncertainty: Geopolitical tensions and inflation fears are driving investors towards the safe haven of gold.
- Weakening Dollar: A weaker US dollar makes gold more affordable internationally, boosting demand.
- Akshaya Tritiya Demand: This auspicious festival traditionally sees a surge in gold purchases in India.
- Increased ETF Inflows: Investment in gold exchange-traded funds (ETFs) is also contributing to the price hike.
What to Do?
For Buyers: Consider smaller purchases to average out prices, explore sovereign gold bonds or digital gold, and always check for hallmark certification.
For Investors: Maintain a diversified portfolio with gold exposure at 10-15%, avoid emotional buying, and monitor global trends.
Who's Affected?
Families planning Akshaya Tritiya purchases might adjust their plans due to the high prices. Retail investors benefit from the rising valuations, while jewelry stores might experience a short-term boom followed by a potential dip in long-term demand. Banks offering Sovereign Gold Bonds may see increased interest.
Conclusion
The record-breaking gold rate reflects a complex interplay of global and local factors. While gold remains a symbol of security, wise decision-making – not emotional reactions – is crucial in navigating this volatile market. Stay informed and make calculated choices.
