Spot gold prices open higher on hopes of peace talk between US and Iran
This story was originally published at 15:23 IST on 15 April 2026
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By Reshma Ravi
MUMBAI – Gold prices opened higher in the spot market of Mumbai Wednesday as hopes of further peace talks between the US and Iran pushed crude oil prices lower, which eased fears of rise in inflation, traders said.
US President Donald Trump said a second round of peace talks with Iran could be held in Pakistan over the next two days. "You should stay there, really, because something could be happening over the next two days, and we're more inclined to go there," Trump told a New York Post reporter Tuesday.
This second round of negotiations between the two countries gave market participants some relief, said Nitin Kedia, national general secretary of the All India Jewellers & Goldsmith Federation.
In Mumbai, gold of 99.9% purity opened at INR 152,949 per 10 grams, up from Monday's closing price of INR 150,011 per 10 grams. The market was closed Tuesday for Ambedkar Jayanti. Dealers are offering a discount ranging from INR 3,000 to INR 5,500 per 10 grams, traders said.
Retail demand remained mixed due to volatility in prices, with India seeing slight festival-led buying ahead of Akshaya Tritiya, a Mumbai-based jeweller said. While some retail buyers have started making bookings for the Akshaya Tritiya, demand remains significantly lower than in previous years, as consumers are struggling to adjust to the volatility in prices, the jeweller added. End
Edited by Ashish Shirke
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