Amidst geopolitical tension, a big fall in the futures prices of gold and silver was also recorded on Tuesday. On Multi Commodity Exchange i.e. MCX at 10:04 am, the price of gold with delivery contract for April 2 fell by 1.47 percent i.e. Rs 1691 compared to the previous session and was recorded at Rs 1,37,207 per 10 grams. At the same time, the price of silver for May 5 delivery contract fell by 3.80 percent i.e. Rs 4,062 compared to the previous session and was recorded at Rs 2,16,618 per kg.
Today’s spot prices in metros
Today, slight differences are being seen in the gold lines in the major metros of the country. The prices of 24 carat, 22 carat and 18 carat gold in different cities are as follows:
gold price in delhi
24 carat (99.9% purity): ₹14,050 per gram
22 carat (91.6% purity): ₹12,880 per gram
18 carat (75% purity): ₹10,541 per gram
gold price in mumbai
24 carat: ₹14,035 per gram
22 carat: ₹12,865 per gram
18 carat: ₹10,526 per gram
gold price in kolkata
24 carat: ₹14,035 per gram
22 carat: ₹12,865 per gram
18 carat: ₹10,526 per gram
gold price in chennai
24 carat: ₹14,182 per gram
22 carat: ₹13,000 per gram
18 carat: ₹10,820 per gram
gold price in bangalore
24 carat: ₹14,035 per gram
22 carat: ₹12,865 per gram
18 carat: ₹10,526 per gram
How was the condition of gold in the international market?
According to tradingeconomics, the price of gold fell near $4,300 an ounce in the international market on Tuesday. Gold remains under pressure amid rising tensions in the Middle East, as Iran refused to negotiate with the US to end the conflict. Tehran rejected President Donald Trump’s announcement as an attempt to influence financial markets. At the same time, Iran launched new attacks on American targets, while Israel continued its attacks against Iran.
On Monday, a sharp rise in gold prices was seen in the day’s trading. This came as Trump touted possible US attacks on Iran’s energy infrastructure and claimed talks were ongoing. However, the outcome of any diplomatic talks remains uncertain, and the potential reopening of the Strait of Hormuz keeps inflation risks elevated. The price of gold had fallen by almost 25% from its high in March. The main reason for this was rising energy prices, which increased inflation concerns and strengthened expectations of interest rate hikes.