Gold slips from highs as US–Iran tensions shake markets
Gold prices fall amid United States–Iran tensions: Gold prices witnessed fluctuations amid rising tensions between the United States and Iran, impacting both domestic and international markets. According to the All India Sarafa Association, 24-carat gold in Delhi fell to around ₹1,55,000 per 10 grams, while futures on the Multi Commodity Exchange declined to ₹1,51,983 per 10 grams. In the global market, spot gold prices also dropped to $4,722.26 per ounce, reflecting weak investor sentiment.
Data from the Indian Bullion and Jewellers Association (IBJA) showed that 24-carat gold closed at ₹1,50,011 per 10 grams on Monday, with lower rates across other purities. Markets remained closed on Tuesday due to Ambedkar Jayanti, keeping prices unchanged. Analysts said gold saw profit booking after earlier record highs, including ₹1,80,779 per 10 grams in January, as investors reacted to global developments.
Experts noted that failed talks between the US and Iran and concerns over a possible blockade of the Strait of Hormuz weighed on sentiment. A stronger dollar and rising bond yields also pressured bullion prices. Analysts added that fears of supply disruptions and rising crude oil prices triggered volatility, leading to a short-term correction in gold despite ongoing geopolitical risks.
Gold Price Table (per 10 grams)
| Purity | Price (₹) |
|---|---|
| 24 Carat | 1,50,011 |
| 23 Carat | 1,49,410 |
| 22 Carat | 1,37,410 |
| 18 Carat | 1,12,508 |
| 14 Carat | 87,756 |
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