Gold Climbs Rs 92.5 K, Gains 33 PC in FY25

Chennai: Gold prices in the Delhi spot market climbed Rs 350 per 10 gm to Rs 92500 as the international market saw prices zoom past $3100 per ounce ahead of the new tariffs by the US coming into effect from April 2. Gold gained 33 per cent and silver 24 per cent in the Indian market in FY25.

In the Delhi spot market gold went up by Rs 350 per 10 gm to Rs 92,500 when the market opened at 5 pm against the previous close of Rs 92,150. In the Multi Commodity Exchange, prices moved beyond Rs 90,000 to Rs 90,284, from the previous close of Rs 88,800. This movement was aided by the international gold rates which crossed $3100 to touch $3120 ahead of US tariffs coming into effect from April 2. It had crossed $3000 in mid-March.

Silver too moved up 1,03,000 lakh per kg in the Delhi market and Rs 1,00,725 at MCX.

Both gold and silver have been rising at a fast pace in the past few months due to geo-economic concerns and fears of an impending recession triggered by the trade war. Inflationary concerns and gold-buying by central banks, too, have been supporting gold, said Ajay Kedia, MD, Kedia Commodities.

Gold gained 33 per cent in the MCX in the fiscal year 2025. In the international market, gold gained 39.70 per cent. The 18.6 per cent gain recorded in the first quarter of FY25 was the highest quarterly gain after Q3 FY86.

Silver too appreciated 24.25 per cent in FY25 in MCX and 37.68 per cent in the international market. Both gold and silver made less gains in the domestic market as the rupee remained strong after RBI’s intervention.

According to Kedia, gold prices in the MCX may further rise to Rs 92,000 per 10 gm and $3200 in 2025. “Gold has moved up quite sharply and at these levels, ETF, physical as well as central bank buying may slow down. If the US government indicates that it will review the tariffs, gold may see some consolidation or profit-booking,” he said.