Gold price today recorded steep decline a day after rates crossed 1 lakh mark after US President Donald Trump withdrew threat to remove Federal Reserve Chair Jerome Powell and appeared confident for a trade deal with China. 24k gold price today stood at Rs 98,350/10 grams after fall of Rs 3,000 and 24k/100 grams yellow metal prices plunged by Rs 30,000 to Rs 9,83,500 on April 23, 2025. Meanwhile, 22k gold price today edged lower by Rs 2750 to Rs 90,150/10 grams and 22k/100 grams precious metal rates slipped by Rs 27,500 to Rs 9,01,500 on Wednesday.
18K gold rate today slid by Rs 2,250 to settle at Rs 73,760/10 grams and 18/100 grams yellow metal prices dived by Rs 22,500 to retail at Rs 7,37,600 on April 23, 2025.
Why Gold Prices Declined Today After Touching Unprecedented High ON April 22?
According to Reuters, the indication of U.S.-China dialogues and Trump withdrawing threat to sack Powell “caused the sell off in gold price to hit a kind of a very extreme oversold level in the short term perspective here,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.
According to Sriram Iyer Senior Analyst, Reliance Securities, “The decline came amid optimism over easing US-China trade tensions and reduced concerns about the Federal Reserve’s independence. On Tuesday, Treasury Secretary Scott Bessent said he expects a de-escalation in the trade conflict with China soon, calling the prolonged tariff standoff unsustainable. Meanwhile, President Donald Trump backed away from threats to dismiss Fed Chair Jerome Powell after days of intensifying criticism over the central bank’s reluctance to cut interest rates. The improved overall sentiment weakened gold’s safe-haven appeal. International and domestic gold and silver prices started weaker this early Wednesday morning in Asian trading as U.S. President Trump retracted his threats to dismiss Fed Chair Powell and expressed optimism for a trade deal with China, denting bullion’s safe-haven appeal.”
Meanwhile, Fed Bank of Minnesota President Neel Kashkari said it is too soon to know how short-term borrowing costs may need to be adjusted for Trump’s tariffs and their expected impact on inflation and the economy. Key triggers today will be economic data from the U.S. and Eurozone and speeches from Fed officials. The range for MCX June gold is 94,820 to 1,00,410, while that for MCX May silver is 93,650 to 97,710, added Sriram Iyer.
Will Gold Prices Cross $4000 Per Ounce Next Year?
The Reuters report added, JP Morgan sees yellow metal to touch an average of $3,675/oz by 4Q25, on the way towards above $4,000/oz by 2Q26, with risks skewed towards an earlier overshoot of these forecasts if demand surpasses its expectations.
How Much Yellow Metal Prices Rallied Since Jan 1, 2025 To April 23, 2025?
22k/10 grams gold rates stood at Rs 71,500 on January 1, 2025. Today, gold prices are retailing at Rs 90,150/10 grams, indicating a jump of 26.08%.
How Much Gold Prices Soared Since April 1 To April 23, 2025?
22K/10 grams gold rates were trading at Rs 85,100 on April 1, 2025. Today, gold rates rose to Rs 90,150, showing a surge of 5.93%.
Spot Gold Price Today
Spot gold plunged 1.2% to $3,339.53 an ounce by 0428 GMT. Spot silver surged 0.6% to $32.70 an ounce, platinum zoomed 0.1% at $959.72 and palladium fell 0.2% to $934.26.
22k Gold Price In Last 5-Days In India (for 1 gram)
22k per gram gold rate today fell by Rs 275, rose by Rs 275 on April 22, zoomed by Rs 70 on April 21, remained unchanged on April 20 and April 19.
Silver Prices Today In India
Silver prices in India on April 22 stayed flat. 1 kg silver prices stood at Rs 101,000 on Wednesday as prices stayed steady. On the other hand, 100 grams silver prices are retailing at Rs 10,100 on April 22, 2025 as prices remained unchanged.
Silver Prices In Last 5-Days In India (1kg)
Silver prices remained unchanged on April 23, April 22, surged by Rs 1000 on April 21, remained flat on April 20, and April 19.
Where Gold Prices Are Cheapest In World On April 23, 2025?
22k/gram gold prices stood cheapest in England on April 23, 2025 at Rs 8,393 followed by Kuwait at Rs 8,650. On the other hand, 22k/gram yellow metal prices are highest in Nepal on April 22, 2025 at Rs 9,751 followed by Malaysia at Rs 9,195.
1 Gram Gold Rate In Key Metro Cities And States Of India On April 23, 2025
| City | 22k Gold Price Per Gram |
| Chennai Gold Price Today | 22 carat gold rate is Rs 9,015 |
| Mumbai Gold Price Today | 22K gold price is Rs 9,015 |
| Delhi Gold Rate Today | 22K yellow metal price is Rs 9,030 |
| Kolkata Gold Price Today | 22 carat gold price is Rs 9,015 |
| Bangalore Gold Price Today | 22K gold rate is Rs 9,015 |
| Hyderabad Gold Prices Today | 22 carat gold rate is Rs 9,015 |
| Kerala Gold Prices Today | 22 carat gold rate is Rs 9,015 |
| Gold Price In Lucknow Today | 22 carat gold price is Rs 9,030 |
| Patna Gold Rate Today | 22k precious metal price is Rs 9,020 |
(Gold price figures source: Goodreturns.in)
Disclaimer: The story highlights gold prices and should not be considered an investment advice by Moneydaily.in or the author. Moneydaily.in and the author will not be held responsible for any losses caused as a result of decisions based on the above information. Moneydaily.in advises readers to do their own research or consult an expert before making any investment decisions.
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