Gold Prices Stay Elevated Ahead of Akshaya Tritiya; 22K Hits ₹1.42 Lakh in Mumbai, Silver Surges
Gold prices in India continue their upward momentum as festive demand and global cues push rates higher. On April 16, 2026, bullion markets across major cities reported a sharp rise, with 22-carat gold crossing ₹1.42 lakh per 10 grams in cities like Mumbai and Pune, while silver prices also witnessed a strong jump.
The rally comes just days before Akshaya Tritiya, traditionally considered an auspicious time for buying gold and other precious metals.
Gold Prices Rise Across Major Cities
Here are the latest gold rates in key Indian cities:
| City | 22K Gold (₹/10g) | 24K Gold (₹/10g) |
|---|---|---|
| Delhi | 1,42,560 | 1,55,510 |
| Mumbai | 1,42,410 | 1,55,360 |
| Ahmedabad | 1,42,460 | 1,55,410 |
| Chennai | 1,40,990 | 1,56,230 |
| Kolkata | 1,42,410 | 1,55,360 |
| Hyderabad | 1,42,410 | 1,55,360 |
| Jaipur | 1,42,560 | 1,55,510 |
| Bhopal | 1,42,460 | 1,55,410 |
| Lucknow | 1,42,560 | 1,55,510 |
| Chandigarh | 1,42,560 | 1,55,510 |
Notably, Delhi recorded ₹1,55,510 per 10 grams for 24K gold, reflecting strong demand and bullish sentiment.
Why Are Gold Prices Rising?
Several domestic and global factors are driving the current rally:
- Festive Buying: With Akshaya Tritiya approaching on April 19, jewelers and stockists are increasing purchases.
- Global Market Trends: International spot gold is trading around $4,795.97 per ounce, supporting higher domestic prices.
- Geopolitical Developments: Hopes of easing tensions involving the US and Iran have influenced global commodity markets.
- Currency & Inflation Factors: Exchange rate movements and inflation concerns continue to impact bullion pricing.
Silver Prices Also See Sharp Jump
Silver is not far behind in the rally. On April 16:
- Silver Price (India): ₹2,70,100 per kg
- Previous Day Increase: ₹11,800 jump (around 4.8%)
- Global Silver Rate: $78.61 per ounce
The sharp increase highlights strong investor and industrial demand for the metal.
Why Akshaya Tritiya Matters for Gold Buyers
Akshaya Tritiya is considered one of the most auspicious days in India for purchasing gold. It symbolizes:
- Prosperity and wealth
- Long-term financial security
- Good fortune and new beginnings
This cultural significance leads to a surge in gold demand every year, often pushing prices higher during this period.
What Should Buyers Do Now?
With prices already elevated, experts suggest:
- Avoid panic buying; evaluate price trends
- Consider staggered purchases instead of lump-sum buying
- Focus on long-term investment goals rather than short-term price movements
- Compare making charges and purity before purchasing jewelry
Final Takeaway
Gold and silver prices are currently on a strong upward trend, supported by both festive demand and global factors. While Akshaya Tritiya may encourage buying, investors should make informed decisions based on their financial goals.
With volatility likely to continue, staying updated on market trends is key before making any major purchase.
