Spot gold opens higher tracking futures; US defers strike on Iran power infra
This story was originally published at 13:59 IST on 27 March 2026
Register to read our real-time news.Informist, Friday, Mar. 27, 2026
By Reshma Ravi
MUMBAI – Gold opened higher in the spot market Friday, tracking futures contracts on the Multi Commodity Exchange of India and the COMEX as the US announced plans to postpone attacks on Iran's energy structure, which eased tensions in West Asia, traders said.
In Mumbai, the spot price of gold of 99.9% purity opened at INR 147,200 per 10 grams, up from Wednesday's closing price of INR 146,205 per 10 grams. With demand for the yellow metal being strong due to festival buying and a sharp correction in prices, there is no discount in the market, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association.
US President Donald Trump said talks with Iran to end the war were going on "very well" and announced he was postponing attacks on the country's energy plants for 10 days till Apr. 6. "As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 PM, Eastern Time," Trump said in a post on Truth Social on Friday. Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well," he added.
However, uncertainty over a ceasefire in the West Asia conflict could weigh on gold prices, Jain said. On Thursday, Trump said Iran must reach a deal with the US or face a continued onslaught, while warning that taking control of Iran's oil was an option. Meanwhile, a senior Iranian official told Reuters that the US proposal for ending nearly four weeks of fighting was "one-sided and unfair," while emphasising that diplomacy had not ended. End
Edited by Avishek Dutta
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