More Stories

Informist, Tuesday, May 26, 2026

By Reshma Ravi

MUMBAI – Average gold spot prices in India opened lower on Tuesday as fresh US attacks on Iran pushed oil prices higher, fuelling concern around inflation and higher-for-longer interest rates. The 99.9% purity gold opened at INR 157,722 per 10 grams, down from Monday's closing of INR 158,857 per 10 grams. In Mumbai, the spot gold opened at INR 161,600 per 10 grams. Dealers are offering discounts of INR 6,000 per 10 grams.     

Gold prices fell amid uncertainty over the peace agreement between the US and Iran following fresh US attacks on Iran and persistent concern over inflation, said Sagar Kesarwani, National Media Secretary of the All-India Jewellers & Goldsmith Federation. The US military said it attacked missile launch sites and mine-laying vessels in southern Iran, in what a US military spokesperson described as "self-defence" strikes, Al Jazeera reported.  

The retail demand in India remained subdued at higher prices. Demand was also down after Prime Minister Narendra Modi urged people to avoid non-essential gold purchases to lower India's import bill and conserve foreign exchange, Kesarwani said. The demand will increase only if there is a steep correction in prices, Kesarwani added.  End

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.