Big News: Gold Rate in India Rebounds After A Huge Rs.32,000/100g Drop; Check 24K, 22K, 18K Gold on May 13

“Gold prices have risen again after a sharp correction, as safe-haven demand eased following a pause in the US-China trade war,” Abans Financial Services’ Chief Executive Officer Chintan Mehta said.

The US agreed to cut tariffs on Chinese imports to 30 per cent from 145 per cent, while China reduced duties on US goods to 10 per cent from 125 per cent

This tariff relief brought some calm to global markets, leading to a rally in equities and a pullback in gold over the past two days, Mehta added. Globally, spot gold quoted higher at USD 3,253.38 per ounce.

“Gold fell over 3 percent on Monday, lowest closing in nearly two weeks. However, the metal rebounded slightly on Tuesday, edging above USD 3,240 per ounce,” Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said.

Gold prices in India also saw a significant rise today, reflecting global market trends, inflation concerns, and increased domestic demand. Rates for 22 carat, 24 carat, and 18 carat gold surged notably compared to yesterday, sparking interest among investors and retail buyers ahead of the wedding and festive season.

22 Carat Gold Rates – Popular for Traditional Jewellery

22 carat gold, widely used in Indian jewelry, rose by ₹105 per gram today. Here’s a breakdown:

• 1 gram: ₹8,855 (↑ ₹105)
• 8 grams: ₹70,840 (↑ ₹840)
• 10 grams: ₹88,550 (↑ ₹1,050)
• 100 grams: ₹8,85,500 (↑ ₹10,500)

This jump is attributed to increased retail buying, especially as wedding season purchases begin to pick up.

24 Carat Gold Rates – Preferred for Investment

24 carat gold, known for its purity and preferred by investors, saw the sharpest rise among all categories.

• 1 gram: ₹9,660 (↑ ₹114)
• 8 grams: ₹77,280 (↑ ₹912)
• 10 grams: ₹96,600 (↑ ₹1,140)
• 100 grams: ₹9,66,000 (↑ ₹11,400)

With inflation fears and geopolitical uncertainty in global markets, safe-haven assets like gold are attracting higher interest.

18 Carat Gold Rates – Common in Lightweight Jewellery

Used in lightweight jewelry and fashion accessories, 18 carat gold also became more expensive today.

• 1 gram: ₹7,245 (↑ ₹86)
• 8 grams: ₹57,960 (↑ ₹688)
• 10 grams: ₹72,450 (↑ ₹860)
• 100 grams: ₹7,24,500 (↑ ₹8,600)

This increase reflects rising production costs and demand for designer ornaments.

Reasons Behind the Price Surge

Several factors have contributed to the rise in gold prices:

• Global market fluctuations due to economic uncertainties and inflation concerns.
• Rising demand in India ahead of weddings and festivals like Akshaya Tritiya.
• Weaker rupee against the US dollar, making imports costlier.
• Tensions in global geopolitics, pushing investors toward safer assets like gold.

What This Means for Buyers and Investors

If you’re planning to buy gold, it’s a good idea to monitor prices closely, as fluctuations can be swift. While current prices are higher than yesterday, they may continue to rise if current trends persist.

Investors may consider this a good time to diversify their portfolios, but those looking for jewelry purchases might want to weigh the market carefully or wait for possible price corrections.