Gold and Silver Price Updates for 16 April: Live Rates of 24K, 22K Gold and 999 Silver in Major Indian Cities

Gold and Silver Prices Rise Amid Global Economic Uncertainty

On Thursday, 16 April, the gold futures market in India saw a modest rise of 0.49% in domestic prices, with rates trading above the ₹150,000 level for the last few sessions. The MCX Gold 5 June contracts were priced at ₹154,702 per 10 grams, while MCX Silver 5 May contracts rose by 1.1% to ₹254,514 per kg at around 9:30 am today.

The gains in gold and silver prices are attributed to the US dollar's weakness, while investors remain focused on emerging signs in the US-Iran situation that will impact risk appetite. However, international gold prices eased after hitting a one-month high amid speculation about the next round of US-Iran talks and the impact of geopolitical developments on the US interest rate decision.

In the retail market of India, 24-carat gold was priced at ₹154,920/10 gm, according to data from the Indian Bullion Association (IBA). Further, 22-carat gold was priced at ₹142,010/10 gms, while silver prices today are at ₹255,550/kg (Silver 999 Fine), as per the IBA website.

Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns

Here is a comparison of gold and silver prices in various cities across India on 16 April:

Customers must note that jewellers may add making charges, taxes, and GST to the bill, which could hike the final price of the item. The high volatility in precious metals' prices is attributed to investor risk appetite returning amid emerging signs that the US and Iran may find a way to end their conflict in the coming few days.

Gold prices last year experienced their strongest bull run since 1979, rising by over 75%. In recent months, gold prices have risen modestly amid safe-haven demand and global economic uncertainty. Silver prices have seen even steeper increases due to strong demand and currency fluctuations, rising from roughly ₹78,600/kg in 2023-2024 to over ₹200,000/kg in early 2026.

Read also: Gold and Silver Prices in India: A Review of Current Rates Across Major Cities