More Stories

Informist, Tuesday, Feb. 24, 2026

MUMBAI – Spot gold prices rose Tuesday due to renewed trade tensions and rising geopolitical tensions between the US and Iran, analysts said.

In Mumbai, the spot price of gold of 99.9% purity was INR 159,503 per 10 grams, up from INR 158,428 Monday, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association. Despite subdued Indian consumer demand, domestic traders widened gold discounts, Kedia Advisory said in a note. Dealers are offering a discount of INR 5,200 per 10 grams on spot gold prices, Jain said. 

On Monday, US President Donald Trump warned countries against backing away from recently negotiated trade deals with the US after the Supreme Court struck down his emergency tariffs, saying that if they did, he would impose significantly higher tariffs under alternative trade regulations, Reuters reported.

"Any Country that wants to 'play games' with the ridiculous supreme court decision, especially those that have 'Ripped Off' the USA for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to. BUYER BEWARE!!!" Trump wrote on Truth Social.

Last week, the US Supreme Court struck down Trump's original slate of tariffs, in response to which Trump imposed a new 10% global levy under another trade law provision before increasing that to 15% on Saturday.

The market is also waiting for the outcome of US-Iran talks. As a new round of talks between the two countries is scheduled to take place this week, Iran has reiterated that it wants to find a diplomatic solution with the US on its nuclear programme but will defend itself if Washington resorts to military action, Al Jazeera reported. On Friday, Trump had said that he was considering a limited strike if Tehran did not reach a deal with the US, the report said.  End

Reported by Reshma Ravi

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.