Editor’s Note
Precious metals have surged, with gold hitting ₹15,928 per gram, driven by US tariff announcements and geopolitical tensions. The market’s direction hinges on upcoming developments in these areas.
Amidst US tariff decisions and global tensions, gold and silver have seen a sharp surge. 24-carat gold reached ₹15,928 per gram. Updates on tariffs and geopolitical events in the coming week will determine the direction of prices.
Saturday proved to be a major turning point for the bullion market. After showing sluggishness at the start of the week, gold and silver prices made a strong comeback. The biggest reason for this was the US Supreme Court decision that dealt a blow to President Donald Trump’s tariff measures.
This legal upheaval shook not just the US, but markets worldwide. Whenever uncertainty increases in the world, people consider investing their money in gold as safe. This is why a ‘trend reversal’ was seen in the prices of 24K, 22K, and 18K gold, and gold registered a splendid gain in the last three days of the week.
According to a report by Good Returns, by 5:23 PM on 21 February, 24-carat gold rose by about ₹191 per gram to reach ₹15,928. 22-carat gold saw a rise of ₹175 and the price remained at ₹14,600 per gram. Meanwhile, 18-carat gold jumped by ₹143 to register at ₹11,946 per gram.
These rates remained unchanged until 8:55 AM on 22 February. This means gold showed a strong stance until the weekend.
| City | 24K (₹/gram) | 22K (₹/gram) | 18K (₹/gram) |
|---|---|---|---|
| Chennai | 16,015 | 14,680 | 12,560 |
| Mumbai | 15,928 | 14,600 | 11,946 |
| Delhi | 15,943 | 14,615 | 11,961 |
| Kolkata | 15,928 | 14,600 | 11,946 |
| Bengaluru | 15,928 | 14,600 | 11,946 |
| Hyderabad | 15,928 | 14,600 | 11,946 |
Minor differences were observed in cities due to taxes and local demand.
If you are thinking of going to Dubai, the rates there are much lower. There, 24K gold is around ₹15,199 per gram, which is about ₹700 per gram cheaper than Mumbai. Today in Dubai (UAE), 24-carat gold was recorded at AED 615.25, i.e., approximately ₹15,199 per gram. 22-carat gold remained at AED 569.75, i.e., about ₹14,075 per gram.
On Friday, gold for April delivery on MCX closed at ₹1,56,993 per 10 grams with a gain of 0.07%. In the international market, gold crossed $5080 per ounce, indicating strong global sentiment.
Market experts are expressing confidence in gold for the long term. Renisha Chainani, Head of Research at Augmont, says that expectations of interest rate cuts worldwide and continuous gold purchases by central banks are strengthening it.
Jatin Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities, said:
The Supreme Court canceled Trump’s tariffs on over 100 countries, but Trump announced first an additional 10% and then 15% tariff. This entire sequence of events has increased uncertainty in the market. On Friday, the US stock market saw a strong rally, and Treasury yields also rose. New updates related to tariffs in the coming week could affect investor sentiment. Additionally, rising tensions between the US and Iran could also increase demand for safe-haven investments, which could support gold and silver.
Gold and silver are currently looking strong amidst global uncertainty. However, volatility may persist in the coming days. Investors will need to keep an eye on international cues, tariff policy, and geopolitical events.