Gold rates today: Yellow metal jumps ₹1,650 to another lifetime high of ₹98,100 per 10 gm, silver at ₹99,400 per kg

On Tuesday, gold prices jumped to ₹96,450 per 10 grams (99.9% purity) and ₹96,000 per 10 gm (99.5% purity).

On April 11, gold rates recorded their steepest single-day jump, climbing ₹6,250 to ₹96,450 per 10 gm in the national capital.

So far in 2025, gold prices have surged by as much as 23.56% (₹18,710) since January 1, when gold was at ₹79,390 per 10 gm.

Silver prices, continuing their rally, climbed ₹1,900 to ₹99,400 per kg after settling at ₹97,500 per kg on Tuesday.

Meanwhile, gold futures for the June delivery on the Multi Commodity Exchange climbed ₹1,984, or 2.12%, to hit a fresh peak of ₹95,435 per 10 gm.

In the international market, spot gold rates breached the $3,300 mark on Wednesday, reaching $3,318 per ounce. It later settled at $3,299.99 per ounce.

Additionally, spot silver in the Asian market hours surged by nearly 2% to $32.86 per ounce.

Gold keeps shining brighter

As per experts, gold’s solid rally amid the current geopolitical situation reflects its safe-haven demand. With US President Donald Trump announcing an investigation into whether tariffs are needed on critical minerals and the US administration increasing tariffs on imports of most Chinese goods to 245%, geopolitical uncertainty and market anxiety are getting consistently more intense.

The absence of any constructive progress in tariff negotiations between the US and China and escalations in the tariff war are boosting gold prices.

Moreover, the US dollar index, which decreased to three-year lows, slipping below the 100-mark, also aided gold’s rally. Market participants are expected to closely monitor US Federal Reserve Chair Jerome Powell's speech on Wednesday to track the yellow metal’s trajectory going forward.

Other factors like macroeconomic data, including US retail sales and industrial production, will also be watched carefully to gain insights on the US Fed interest rates, which have a major impact on gold prices.