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Informist, Thursday, Apr. 9, 2026

 

By Reshma Ravi

MUMBAI – Gold prices opened lower in the spot market Thursday, tracking futures contracts on the Multi Commodity Exchange of India and COMEX, as market participants remained cautious after cracks began appearing in the two-week ceasefire agreement between the US and Iran, traders said. This renewed concern about inflation, lowering expectations of an interest rate cut by the US Federal Reserve this year.

 

In Mumbai, gold of 99.9% purity opened at INR 149,536 per 10 grams, down from Wednesday's closing price of INR 151,121 per 10 grams. Dealers are charging a premium of INR 3,900 per 10 grams, Kumar Jain, spokesperson for the India Bullion and Jewellers Association, said. Gold is at a premium in India after a brief gap as physical buying has improved, Jain added.

 

Cracks began to appear in the ceasefire agreement as Israel carried out one of its largest strikes against Hezbollah in Lebanon Wednesday, killing at least 112 people and injuring 837. Israel said it had halted attacks on Iran but the ceasefire does not cover Lebanon. According to Iranian media reports, Iran shut the Strait of Hormuz again after Israel breached the ceasefire deal, Tehran is also considering backing out of the ceasefire, as per the reports.  End

 

Edited by Rajeev Pai

 

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