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Informist, Wednesday, Apr. 22, 2026

 

By Reshma Ravi

 

MUMBAI – Gold prices opened slightly lower in the spot market Wednesday owing to continued uncertainty over the situation in West Asia, traders said. The second round of negotiations between the US and Iran was cancelled after Tehran declined to participate. In Mumbai, gold of 99.9% purity opened at INR 152,250 per 10 grams, down marginally from Tuesday's closing price of INR 152,355 per 10 grams.

 

Iran could attend talks with the US in Pakistan if Washington abandons its policy of pressure and threats, Reuters reported a senior Iranian official as saying Tuesday. The official accused the US of "creating new obstacles every day instead of resolving the differences" to end the conflict, the report said.

 

Meanwhile, US President Donald Trump announced an extension of the two-week ceasefire with Iran even as the US continued to blockade Iranian ports until Tehran submits a proposal for talks and "discussions are concluded, one way or the other". 

 

Uncertainty surrounding the US-Iran conflict has led to premiums and discounts across Indian markets, Kumar Jain, spokesperson for the India Bullion and Jewellers Association, said. He added that demand is likely to remain weak unless there is a sharp correction in prices.  End

 

Edited by Rajeev Pai

 

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