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Informist, Monday, Apr. 6, 2026

 

By Reshma Ravi

 

MUMBAI – Gold prices opened higher in the spot market Monday, tracking futures contracts on the Multi Commodity Exchange of India and COMEX amid hopes of a potential ceasefire between the US and Iran, traders said. In Mumbai, gold of 99.9% purity opened at INR 147,891 per 10 grams, up from Thursday's closing price of 145,507 per 10 grams. The market was closed Friday for Good Friday.

 

Iran and the US have received a plan to end hostilities that could come into effect Monday and reopen the Strait of Hormuz, Reuters reported, citing sources aware of the proposal. The plan to end hostilities has been put together by Pakistan and exchanged with Iran and the US overnight, outlining a two-tier approach with an immediate ceasefire followed by a comprehensive agreement, the sources said. The proposal, tentatively termed the Islamabad Accord, also gives the parties an additional 15–20 days to finalise a broader settlement, the report said.

 

Dealers are offering a discount of INR 1,300 per 10 grams, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association. Retail demand for gold in India is weak because of price volatility, Jain said. However, gold jewellery purchases are likely to rise on Akshaya Tritiya, Apr. 19.  End

 

Edited by Rajeev Pai

 

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