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Informist, Monday, Mar. 30, 2026

By Reshma Ravi

MUMBAI – Gold opened higher in the spot market Monday, as demand increased due to festival buying and a sharp correction in prices in the last two weeks. In Mumbai, the spot price of gold of 99.9% purity opened at INR 146,217 per 10 grams, up from Friday's closing price of INR 142,942 per 10 grams.

Gold jewellery buying is likely to increase in April because of Akshaya Tritiya, which is on Apr. 19. Dealers are offering a discount of INR 2,000 per 10 grams, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association. However, the discount has narrowed due to increasing retail demand, Jain said. 

Gold prices are unlikely to rise further as inflation fears persist because of the military conflict in West Asia, Jain said. The war in West Asia intensified over the weekend, with Israel launching waves of attacks on Iranian infrastructure and ports, even after US President Donald Trump postponed attacks on Iran's energy infrastructure till Apr. 6. Israeli Prime Minister Benjamin Netanyahu said he would further expand military operations in South Lebanon, adding to fears of a prolonged war. Meanwhile, Iran attacked an industrial park in southern Israel, sparking a fire at a chemical plant, and the speaker of the Iranian parliament, Mohammad Bagher Ghalibaf said the US was plotting a ground attack while publicly engaging in diplomatic efforts.  End

Edited by Avishek Dutta

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