Posted on April 22, 2025, by Niftynews
In a historic milestone, gold price hits ₹1 lakh for 10 grams of 24-carat gold in Bengaluru, Karnataka. As of Monday morning, gold traders confirmed that the benchmark price had surged to around ₹1,03,000 (excluding GST and additional charges), marking an all-time high for the yellow metal in the city.
This unprecedented spike comes just days ahead of Akshaya Tritiya (April 30, 2025)—an auspicious occasion for purchasing gold and silver in India.
What’s Driving the Surge as Gold Price Hits ₹1 Lakh?
Experts attribute the price rally to a mix of global economic uncertainty, a weaker US dollar, and aggressive gold accumulation by China.
🗣️ Expert Insights:
Dinesh Pagaria, Managing Director of JJJ Jewellers Private Limited, explained:
“Within six years, the rate of gold has almost tripled. In 2019, 10 grams of 24-carat gold cost ₹35,000. Today, it’s over ₹1,03,000.”
Suresh Kumar Ganna, former president of The Jewellers’ Association in Bengaluru, noted:
“Gold continues to be the safest investment. Amid rising global tension and a falling dollar, people are turning to gold for security and liquidity.”
Breakdown of Current Gold Prices in Bengaluru
As per Monday’s market rate in Bengaluru (excluding GST and charges):
- 1 gram of 22-carat gold: ₹9,285
- 1 gram of 24-carat gold: ₹10,200
- 10 grams of 24-carat gold: ₹1,03,000+
This steep climb has spooked many retail buyers, especially those planning festive purchases ahead of Akshaya Tritiya.
Global Factors Behind Why Gold Price Hit ₹1 Lakh
Industry insiders and analysts point to aggressive Chinese gold buying and dollar reserve conversions as key reasons behind the spike. China is believed to be increasing its gold reserves to hedge against global currency instability.
According to Suresh Ganna:
“India imports about 800–900 tonnes of gold annually. Our people hold nearly 25,000 tonnes, making us the largest gold-holding nation.”
With demand rising and supply tightening globally, especially in Asia, the gold price hitting ₹1 lakh was seen as inevitable.
Long-Term Outlook—Will Gold Keep Rising?
Pagaria forecasts another 25% rise within the year, suggesting prices could reach ₹1.25 lakh per 10 grams by late 2025 if current trends hold.
Traders now expect:
- A 2x increase in kilo gold (₹2 crore within 5 years)
- Short-term corrections, but a long-term bullish trend
- Increased central bank buying and geopolitical hedging
Buyer Sentiment Dips Ahead of Akshaya Tritiya
Despite the auspicious timing, consumers are more cautious than celebratory this year. For middle-class households planning traditional purchases, the psychological barrier of ₹1 lakh is proving difficult to overcome.
Retailers are seeing:
- More demand for gold coins and lighter jewelry
- A rise in digital gold investments
- Inquiries about installment-based purchase schemes
Should You Still Invest Now?
Financial advisors say gold remains a solid hedge in volatile times but advise caution with short-term trades.
“Buy in smaller quantities or use SIP-based gold savings schemes. The fundamentals support the rally, but it’s wise to stagger your investment,” one advisor noted.
Alternatives like Sovereign Gold Bonds (SGBs) and Gold ETFs also provide exposure without worrying about purity, making charges, or storage.
🧾 Summary: Key Highlights as Gold Price Hits ₹1 Lakh
- ✅ 24-carat gold crosses ₹1 lakh for 10 grams in Bengaluru
- ✅ Price has nearly tripled in six years (₹35,000 → ₹1,03,000)
- ✅ Key drivers: Global uncertainty, weak US dollar, China buying gold
- ✅ Akshaya Tritiya demand may be muted due to high rates
- ✅ Long-term bullish trend continues, 25% increase expected this year
📌 Final Word: Gold’s Glitter Grows Brighter in Uncertain Times
As gold price hits ₹1 lakh, the yellow metal proves again why it’s called a “safe haven.” From investors to everyday buyers, gold is being seen not just as jewelry—but as a shield against uncertainty. Whether you buy now or wait, gold’s place in the Indian economy and psyche remains stronger than ever.
