Gold rates on April 16: Precious metal hits all-time high; here's how much it costs in your city today

Gold

Gold prices hit fresh all-time high levels on April 16 amid heightened global uncertainties. Concerns over US President Donald Trump's reciprocal tariffs and their subsequent reversal made investors shift to safe-haven assets like gold.

Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country:

(as per data on Good Returns)

Gold's June contracts on the Multi Commodity Exchange of India (MCX) hit Rs 95,000 per 10gm for the first time ever on April 16.

"Gold prices raced to an all-time high, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to U.S. President Donald Trump's tariff plans which led to safe-haven inflows," said Manav Modi, Senior Analyst of Commodity Research at Motilal Oswal Financial Services.

Also read: Why gold may not lose its sheen any time soon

While 24-carat gold is a 100 percent pure form of gold with no trace of any other metal, the 22-carat variant has 91.67 percent pure gold along with some traces of alloyed metals like silver or copper.