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Informist, Monday, May 25, 2026

 

MUMBAI – Gold prices in the spot market opened higher on Monday, tracking futures on the Multi Commodity Exchange of India and the COMEX. Spot gold prices rose as concerns about inflation eased amid hope of a potential US-Iran peace deal. Gold of 99.9% purity opened at INR 158,622 per 10 grams in Mumbai, up from Friday's closing of 158,117 per 10 grams.

 

On Saturday, US President Donald Trump said that an agreement had been "largely negotiated", prompting speculation that an announcement could be imminent, the BBC reported. The deal under discussion reportedly involves a 60-day ceasefire extension, reopening the Strait of Hormuz and a plan for further negotiations over Iran's nuclear programme, the BBC reported.

 

Meanwhile, dealers are offering discounts of INR 1,300–INR 10,500 per 10 grams, traders said. Retail demand in India remained subdued due to high import duties and price volatility, Nitin Kedia, national general secretary of the All-India Jewellers & Goldsmith Federation, said.

 

"Retail buyers are a bit confused by the recent price swings after the government raised import duty earlier this month. Most of them are just waiting for prices to settle down," Reuters quoted a Kolkata-based jeweller, as saying.  End

 

Reported by Reshma Ravi

Edited by Vandana Hingorani

 

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