Spot gold prices open lower on profit taking, limited demand
This story was originally published at 15:47 IST on 17 April 2026
Register to read our real-time news.Informist, Friday, Apr. 17, 2026
By Taniva Singha Roy
MUMBAI – Gold prices in the spot market of Mumbai opened lower on Friday, tracking futures contracts on the Multi Commodity of India and the COMEX. Prices were down because of profit taking as they had risen Thursday, traders said. Demand is also limited ahead of Akshaya Tritiya, which contributed to the weakness, analysts said.
In Mumbai, gold of 99.9% purity opened at INR 151,358 per 10 grams, down from Thursday's closing price of INR 153,106 per 10 grams. Dealers are offering a discount of INR 4,000 per 10 grams, traders said. Demand trends have shifted these days, said Nitin Kedia, national general secretary of the All India Jewellers & Goldsmith Federation.
Gold prices could rise in the coming days on hope that the war in West Asia could end soon as the US and Iran prepare for another round of peace talks, market participants said. US President Donald Trump Wednesday claimed that the conflict with Iran was "very close to over" even as the blockade by the US Navy tightened. End
Edited by Ashish Shirke
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