Gold, silver rates April 11: Gold near ₹1.52 lakh, silver up as geopolitical tensions keep markets on edge

Gold rates: Gold prices continue to remain volatile as geopolitical tensions involving Israel, the US, and Iran keep global markets on edge, influencing safe-haven demand. In early trade on Saturday, domestic gold prices saw marginal movement, reflecting a cautious investor sentiment amid uncertain macro cues. According to GoodReturns data, 24-carat gold rose by ₹10 to ₹1,52,360 per 10 grams, while 22-carat gold also edged up by ₹10 to ₹1,39,660 per 10 grams.

Across key metro cities, price trends remained largely aligned, with minor regional variations. The price of 24-carat gold stood at ₹1,52,360 per 10 grams in Mumbai, Kolkata, and Hyderabad, while Chennai continued to trade at a premium of ₹1,54,100. In the national capital, Delhi, gold prices were slightly higher at ₹1,52,510 per 10 grams. Similarly, 22-carat gold was priced at ₹1,39,660 in Mumbai, Kolkata, Bengaluru, and Hyderabad, while Chennai reported a higher rate of ₹1,41,260. In Delhi, the price stood at ₹1,39,810 per 10 grams.

ALSO READ: Why Indians buy gold on Akshaya Tritiya: Belief, tradition and investment logic

Silver prices also registered a modest increase, rising by ₹100. The metal was priced at ₹2,60,100 per kilogram in Delhi, Mumbai, and Kolkata, while Chennai saw higher levels at ₹2,65,100 per kilogram, maintaining its consistent premium over other cities.

On the global front, gold prices edged higher on Friday, supported by a weakening US dollar following a temporary truce between the US and Iran. However, markets remain cautious as investors continue to evaluate the sustainability of the ceasefire and its broader implications for interest rates and global liquidity. Spot gold rose 0.3 per cent to $4,778.89 per ounce, marking a gain of over 2 per cent for the week. In contrast, US gold futures slipped 0.3 per cent to $4,804 per ounce.

Other precious metals showed mixed trends. Spot silver gained 1.7 per cent to $76.34 per ounce, while platinum and palladium declined by 2.5 per cent each to $2,050.99 and $1,518.66 per ounce, respectively. Despite the daily losses, all three metals were on track to post weekly gains, indicating continued investor interest in the broader precious metals complex.

ALSO READ: Why do some years have two Akshaya Tritiyas? Explained through the lunar calendar

Gold, silver outlook

From an outlook perspective, Morgan Stanley expects gold to remain range-bound in the second quarter before gaining upward momentum in the latter half of the year. The brokerage noted that if the US Federal Reserve refrains from further rate hikes and geopolitical tensions ease, gold could see renewed upside. A softer policy stance would likely shift focus back to concerns around fiat currency debasement, further supporting bullion prices.

The World Gold Council (WGC) also highlighted early signs of stabilisation in the gold market. It noted that the US dollar has struggled to extend gains beyond recent highs, easing pressure on gold. Additionally, gold ETF flows have turned positive across regions in early April, indicating improving investor sentiment.

The WGC added that options markets reflect elevated short-term hedging demand, while maintaining a constructive outlook over the medium term. Expectations of aggressive monetary tightening in the US appear to be moderating, with any energy-driven inflation likely to dampen demand rather than significantly lift core inflation. This dynamic could eventually support a dovish pivot in monetary policy.

Further, anecdotal evidence suggests that retail investors, wealth managers, and physical buyers are gradually returning to the market as gold prices stabilise above key technical levels, reinforcing the metal’s appeal as a strategic long-term asset.