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Informist, Friday, Apr. 10, 2026

By Reshma Ravi

MUMBAI – Gold prices opened higher in the spot market Friday as demand in India increased due to festival buying, traders said. In Mumbai, gold of 99.9% purity opened at INR 150,305 per 10 grams, up from Thursday's closing price of INR 149,937.

Gold jewellery buying has increased because of Akshaya Tritiya, which is on Apr. 19, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association. "...this day is the most auspicious for a Hindu wedding," Jain added.

"We are likely to see an uptick in demand this year, given the significant correction in gold prices along with the enormous buying appetite of Indians," Colin Shah, managing director of Kama Jewlery, said in a note. While traditional investment-driven purchases of bullion and heavier 22 carat jewellery will continue, there will be a stronger shift toward lightweight, everyday jewellery made in 9 carat to 18 carat gold. This change is driven by a growing number of young buyers who view gold more as an accessory and a sense of prestige, Shah added.

Meanwhile, market participants remained cautious as uncertainty over US-Iran ‌ceasefire lingered, said Nitin Kedia, National General Secretary of the All India Jewellers & Goldsmith Federation. Israel continued to bombard Lebanon after killing more than 300 people and injuring at least 1,150 in a single day of strikes across the country on Wednesday, Al Jazeera reported. 

Israel's Prime Minister Benjamin Netanyahu said in a post on X, "We will continue to hit Hezbollah wherever necessary, until we fully restore security to the residents of the north." This was after he ordered direct negotiation with the Lebanese government, with the aim of pushing for Hezbollah's disarmament. However, the Lebanese government said it had not received any formal invite for negotiations and that there would be "no negotiation under fire."  End

Edited by Akul Nishant Akhoury

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