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There is turmoil in the global market due to the increasing trade tension between the US and China. Due to this, investors want to protect themselves. The result is that the risk of recession is increasing due to this unexpected stance of Donald Trump. The dollar is weakening and the price of gold has reached the seventh sky.
According to Indian Bullions, at 10 am on April 18 (Friday), the price of gold was being sold at Rs 95410 per 10 grams, which was Rs 94,010 a week ago i.e. on April 11. Let us know what are the new rates of gold in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and Delhi-
New Gold Rates
In Mumbai, 10 grams of gold is being sold at the rate of Rs 95,240. While silver is Rs 95,240 per kg. Similarly, the price of gold in Chennai is 95,520. In the national capital Delhi, gold is trading at 95,080 per 10 grams. If we talk about Kolkata, the price of 10 grams of gold here is Rs 95,110. It is being sold at Rs 95,390 in Hyderabad and Rs 95,310 in Bengaluru.
Earlier, on Thursday, the price of gold in the bullion market of the national capital rose by Rs 70 to a new record high of Rs 98,170 per 10 grams amid strong global demand. While on Wednesday, the price of gold of 99.9 percent purity rose by Rs 1,650 to an all-time high of Rs 98,100 per 10 grams.
Gold of 99.5 per cent purity also rose by Rs 70 to a new peak of Rs 97,720 per 10 grams, as against its closing level of Rs 97,650 per 10 grams on Wednesday. "Gold prices hit a record high on weak dollar, rising trade war tensions and rising concerns over global economic growth following US President Donald Trump's tariff announcements," said Chintan Mehta, chief executive officer, Abans Financial Services.
He said gold prices continue to rise as global uncertainty persists, with the US-China trade war disrupting supply chains and raising fears of inflation and recession. As markets grapple with these risks, volatility persists, reinforcing gold's role as a reliable 'hedge'.
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