Gold prices hit historic ₹96,340 in India amid global bullion surge

Gold prices in India surged to an all-time high of ₹96,340 per 10 grams in Ahmedabad on Monday, April 14, 2025, reflecting a strong upward trend in the bullion market. On the Multi Commodity Exchange (MCX), gold closed at ₹93,745 per 10 grams, marking a significant gain. Meanwhile, international gold prices were trading at $3,226.73 per ounce as of 10:50 AM IST, underscoring the global rally driven by safe-haven demand and macroeconomic uncertainties.

Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Services , said, "The current gold price surge is driven by a mix of geopolitical tensions, central bank demand, and uncertainty around global economic policy."

In Q1’25, gold gained over 15%, reflecting strong fundamentals such as sustained central bank buying and safe-haven demand due to geopolitical risks. Even though, prices temporarily declined due to long liquidation, and broader market sell-offs, the announcement of new tariffs by President Trump has reignited uncertainty.

"The escalating U.S.-China trade war is once again pushing investors toward gold. Additionally, with the Japanese yen also rising as a safe-haven asset, market sentiment remains supported towards Gold. The unclear stance of the U.S. Federal Reserve on future rate cuts adds further ambiguity; there are expectations of inflation rising once again amidst President Trump’s tariff implications - supporting gold as a hedge against potential monetary easing and inflation. Despite recent volatility, the underlying drivers—global instability, geo-political tensions, trade war, growth slowdown fears and strong institutional demand—remain intact, suggesting continued support for elevated gold prices from a medium to long-term perspective," said Modi.

With gold prices soaring to all-time highs, the Reserve Bank of India (RBI) has brought Sovereign Gold Bond (SGB) investors to a pivotal decision point — should they cash in now or stay the course until maturity? The RBI’s recent announcement of premature redemption dates for SGBs between April and September 2025 has sparked deliberation among investors. As profits look tempting, many are weighing the benefits of booking gains now versus holding on in anticipation of further upside in gold.