Gold prices on Wednesday, April 16, 2025, reached an all-time high on the Multi Commodity Exchange of India Limited (MCX), buoyed by global safe-haven buying amid rising trade tensions and economic growth concerns. Opening at ₹94,573 per 10 grams, MCX gold climbed as much as ₹1,984 or 2.12% to hit ₹95,435 — the highest ever recorded.
By 1:35 PM on April 16, 2025, gold was trading at ₹95,387 per 10 grams, up ₹1,936 or 2.07% from the previous session's close of ₹93,451. Silver also saw sharp gains, trading at ₹96,840 per kg, an increase of ₹2,066 or 2.18%.
Global gold prices surged to a record $3,294.99 per ounce before settling slightly lower at $3,287.79 — a 1.9% rise. US gold futures advanced nearly 2% to $3,304.20 per ounce. A 0.7% dip in the US dollar index made gold more attractive to investors holding other currencies.
Analysts observed strong bullish momentum as gold prices decisively breached key resistance at $3,200 per ounce. The next potential target range is now set between $3,280 and $3,320.
Rising investment interest continues to support gold’s upward momentum. According to the World Gold Council, Chinese gold Exchange-Traded Funds (ETFs) recorded net inflows of 29.1 metric tons in just the first 11 days of April. This figure has already exceeded the total inflows seen during the entire first quarter and is outpacing investments in US-listed gold funds.
On the domestic front, breaching the earlier resistance level of ₹91,500 signals a possible continuation towards the ₹95,000-₹95,500 zone. Gold prices in India have more than doubled over four years, from around ₹47,000 per 10 grams in May 2021 to today’s record levels, driven by both global and local investor sentiment.
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