Gold price sees correction after touching ₹1 lakh; Should you buy or sell?

Gold prices bounced back during Thursday morning's session in the domestic futures market, supported by positive global trends, a weaker dollar, and strong spot demand. 

At approximately 9:10 AM, MCX Gold was trading 1.11% higher at ₹95,770 per 10 grams. Meanwhile, in the spot market, 24-carat gold was priced at ₹98,513 per 10 grams in Delhi on Thursday morning.

Gold prices surged to ₹1 lakh per 10 grams in the retail market on Tuesday, April 22, driven by growing concerns that a potential trade war between the US and China—the two largest global economies—could significantly impact worldwide economic growth.

“Trump's continously shifting stance on trade policy has undermined investor trust and weakened confidence in the US economy. This has weakened US dollar, which has plummeted 10% in 2025 and has helped the gold rally. After gaining 30% this year and reaching highs of $3500 and ₹1 lakh, prices have plunged today by $200 (~ ₹4000) as sentiment has turned risk-on,” said Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL).

Should you buy or sell gold amid volatility?

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, says that the month of April remains highly volatile, with technical charts showing early signs of trend exhaustion.

Trivedi further added that while looking ahead, gold is expected to trade in a broad range between ₹94,000– ₹98,000, with elevated volatility likely to persist.

“A rebound in the Dollar Index from 98.4 and comments from Donald Trump hinting at potential tariff resolutions with India, Japan, and China have weighed on gold’s safe-haven premium. As tariff concerns ease, gold is seeing some premium unwinding. Traders are advised to maintain strict risk management, especially in such overstretched market conditions,” Trivedi said.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.