Gold price in India reached a record high on Tuesday, with 24-carat gold crossing ₹1 lakh for the very first time, making headlines across the country.

As of April 22, 24-carat gold rose sharply to around ₹1,01,350 for 10 grams — a big jump of ₹3,000 in just one day.

22-carat gold has also gone up and is now priced at ₹92,900 for 10 grams — the highest it’s ever been in India.

This surge marks a historic moment for gold prices in the country, and buyers and investors are monitoring further changes closely.

Gold Prices Rise in India

Gold prices in Bhubaneswar are on the rise, just like in the rest of the country.

As of April 22, the price of 24-carat gold in the city is ₹98,380 for 10 grams, while 22-carat gold is selling for ₹89,450 for the same amount.

Just a week ago, on April 15, the rate for 24-carat gold was about ₹96,200 per 10 grams, showing a jump of more than ₹3,000.

This steady increase in prices reflects larger changes happening in the economy and global markets.

Why Are Gold Prices Going Up? Here’s What’s Happening

The recent jump in gold prices isn’t random — there are several global reasons behind the surge:

👉 Weaker US Dollar
The value of the US dollar has dipped, which makes gold a safer and more appealing option for investors around the world.

👉 Global Tensions
Ongoing issues like the trade disputes between the US and China, and conflicts in the Middle East and Eastern Europe, are making the markets feel unstable. In times like these, people often turn to gold as a safe investment.

👉 Central Banks Buying More Gold
Many countries, especially in Asia, are adding more gold to their reserves. According to the World Gold Council, central banks bought a record-breaking 1,037 tonnes of gold in 2024.

👉 Worries About the Economy
With rising fears of stagflation and a possible recession, even top leaders like US Federal Reserve Chair Jerome Powell have raised concerns. As a result, investors are leaning toward gold for more financial security.

How Rising Gold Prices Are Affecting People

The steep rise in gold prices is starting to pinch the pockets of everyday people, especially middle-class and rural families who usually buy gold for weddings, festivals, or as a form of savings.

Now that gold has crossed ₹1 lakh for 10 grams, many buyers are cutting down on their purchases or choosing to wait in hopes that prices might drop later.

But it’s not all bad news. Investors who bought gold last year, when the average price was around ₹60,000 per 10 grams, are now seeing big profits as the value of their gold has nearly doubled.

What’s Next for Gold Prices?

Experts believe gold prices could keep climbing if the global economy stays unstable.

Currently, gold is selling for about USD 2,400 per ounce on the global market. If it jumps to USD 3,500, we might see gold prices in India cross ₹1.10 lakh per 10 grams by mid-2025.

In Odisha, prices are also expected to rise, especially during the festive and wedding seasons when more people buy gold and demand goes up.

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