Spot gold opens steady as market remains cautious on West Asia peace talks
This story was originally published at 14:46 IST on 23 April 2026
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By Abhijit Doshi
MUMBAI – Spot gold prices opened largely unchanged Thursday as the market preferred to remain cautious given the uncertain situation in West Asia. The proposed peace talks between the US and Iran to end the war in the region seemed to be stalled, amid reports of gunfire attacks on multiple vessels in the Strait of Hormuz and the seizure of two ships by Iran. Both sides appeared to be taking a tough stand, insisting on their demands being met.
In Mumbai, gold of 99.9% purity opened at INR 153,500 per 10 grams, unchanged from Wednesday, Kumar Jain, spokesperson for the India Bullion and Jewellers Association, said. Traders are offering a discount of about INR 9,000 to buyers, he said.
At 1350 IST, the June futures contract of gold on the Multi Commodity Exchange of India was being quoted at INR 152,491 per 10 gram, down nearly 0.2%, whereas the same-month contract on COMEX was at $4,726 per ounce, down 0.4%. End
US$1 = INR 94.11
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
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