Gold and Silver Price on April 16: 24k Gold rate hit record high of ₹95,170 per 10 gram; check prices in your city

Gold prices in domestic markets saw a substantial rise on Wednesday, April 16. 24K gold traded at ₹95,170 per 10 grams, up by over ₹1800 per 10 gram compared to yesterday’s closing, while 22K gold is at ₹87,190 per 10 gram, up by ₹1,679 over the last close.

A rise in international gold prices, along with strong demand in the local markets, aided the rise in domestic gold prices.

In Mumbai markets, the 24K gold rate stood at ₹95,170 per 10 gram and 22K gold at ₹87,190 per 10 gram.

Gold Price Today in Major Cities:

Meanwhile, MCX Gold futures traded higher today. As of 10:15 am, the MCX Gold June future was up 1.2% at ₹94,627 per 10 gram, with a day high of ₹94,635 and day low of ₹94,311. MCX gold is mirroring the gains witnessed in the international gold prices in early morning trades. In the US markets, Gold futures for the June delivery were trading 1.8% or $59.7 higher at $3,300 an ounce.

International gold prices hit a record high amid sustained safe haven demand as investors remained concerned over Trump’s plans to impose more trade tariffs in the coming days. Additionally, a weaker US dollar also supported the gold prices.

Earlier this week, US President Donald Trump said he plans to impose separate tariffs on electronics imports, and will also announce tariffs on pharmaceuticals soon.

In the coming days, investors will be looking forward to key economic data, including Eurozone inflation numbers, US core retail sales data, and initial jobless claims.

Silver Price Today in India (April 16, 2025)

Silver prices are trading flat, around ₹1,00,000 per kg in the local market. Meanwhile, MCX Silver for May delivery trades 0.42% higher at 95,168 per kg, while international silver prices trade around $32.46 per troy ounce, up 0.54%.

Silver Price Today in Major Cities: