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Informist, Monday, Apr. 13, 2026

By Reshma Ravi

MUMBAI – Gold prices opened lower in the spot market Monday as a sharp rise in crude oil prices after the failure of US-Iran peace talks fuelled worries about inflation, raising concerns about a hike in interest rates by central banks. In Mumbai, gold of 99.9% purity opened at INR 150,081 per 10 grams, down slightly from Friday's closing price of INR 150,327 per 10 grams. Dealers are offering a discount ranging from INR 2,800 to INR 4,000 per 10 grams, traders said. 

Crude oil prices climbed after US President Donald Trump on Sunday said the US would block any ships passing through the Strait of Hormuz, following the failure of the US and Iran to reach a deal to end the war. Iran's Revolutionary Guards responded by warning that military vessels approaching the strait will be considered a breach of ceasefire and dealt with harshly and decisively.

Meanwhile, demand has picked up slightly in India ahead of festivals, particularly with Akshaya Tritiya approaching, though higher prices are seen limiting aggressive purchases, traders said. Buyers are waiting for a sharp correction to around INR 125,000 per 10 grams for demand to strengthen, according to Kumar Jain, spokesperson for the India Bullion and Jewellers Association.  End

Edited by Ashish Shirke

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