Spot gold opens higher tracking futures on hopes of West Asia peace talk
This story was originally published at 14:56 IST on 25 March 2026
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By Reshma Ravi
MUMBAI – Gold opened higher in the spot market Wednesday tracking futures contracts on the Multi Commodity Exchange of India and COMEX amid renewed hopes of de-escalation in West Asia, which have allayed fears of inflation and higher global interest rates, analysts said.
In Mumbai, the spot price of gold of 99.9% purity opened at INR 144,643 per 10 grams, up from Tuesday's closing price of INR 140,420 per 10 grams. Dealers are offering a discount of INR 2,500 per 10 grams, Nitin Kedia, national general secretary of the All India Jewellers & Goldsmith Federation, said. Kedia also said spot premiums are likely to rise around Akshaya Tritiya, which is on Apr. 19, owing to strong demand.
"Any sign of further progress on a ceasefire or end to the conflict could cool down inflation concerns and increase the prospects of interest rate cut," ICICI Direct said in a report. Tuesday, President Donald Trump had said the US was making progress in its efforts to negotiate an end to the war with Iran, including winning an important concession from Tehran. Trump also said the US was talking to "the right people" in Iran to reach an agreement to end hostilities and that Iran had agreed it would never have nuclear weapons.
The US has sent Iran a 15-point plan to end the war, through Pakistan, whose army chief has emerged as the key interlocutor between the two belligerents, The New York Times reported, citing sources. It is unclear how widely the plan had been shared among Iranian officials and whether Iran is likely to accept it as a basis for negotiations, the report said. End
Edited by Rajeev Pai
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