GUWAHATI: Gold prices in Guwahati went past the ₹1 lakh mark with the yellow metal (24 carat) notching Rs 1,24,700, including GST, per 10 gm at 11.25 AM on Tuesday, April 22. Across the country, prices continued their upward momentum for the fourth day in a row surging by ₹1,899 to hit a historic high of ₹99,178 per 10 gram, fueled by sustained safe-haven buying.
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On the Multi Commodity Exchange (MCX), the most actively traded June futures contract soared nearly 2%, or ₹1,899, in early trading to touch the new peak. It later settled at ₹98,880, still up ₹1,601 or 1.65%, with an open interest of 22,687 lots.
Talking to GPlus, an executive from a popular jewellery and gold brand in Guwahati said," The current rate in the city is ₹1,24,700 including GST 24 carat [10gm]"
The rally wasn't limited to June contracts. The August futures jumped ₹1,848 (1.89%) to reach ₹99,800 per 10 grams, while October contracts made headlines by crossing the ₹1 lakh mark for the first time. October gold surged ₹2,000 or 2% to ₹1,00,484 per 10 grams on the MCX.
Analysts attributed the bullish trend to increasing investor anxiety over U.S. monetary policy. Market sentiment was rattled after President Donald Trump announced plans to reform the Federal Reserve, intensifying uncertainty.
In global markets, gold futures also surged, hitting a new high of $3,504.12 per ounce before trimming gains to $3,490.72—still up $65.42 or 1.91%.
"Gold prices breached the $3,500 level in international markets and crossed ₹97,000 domestically due to rising global financial tensions and the deepening U.S.-China trade conflict," said Rahul Kalantri, Vice President of Commodities at Mehta Equities Ltd.
Adding to the market volatility, Trump on Monday again urged the Federal Reserve to slash interest rates, warning of a potential economic slowdown if it fails to act. The dollar index fell to a three-year low amid growing friction between President Trump and Fed Chair Jerome Powell over rate cuts.
Further stoking market jitters, White House economic adviser Kevin Hassett revealed last Friday that the administration is actively considering whether it can remove Powell from his role. This comes after Powell recently stated the Fed is not currently inclined to lower rates, citing inflation risks and uncertainty linked to new tariffs.
