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Informist, Thursday, Jun. 4, 2026

By Taniva Singha Roy

MUMBAI – Average spot prices of gold in India opened higher on Thursday, tracking futures on the Multi Commodity Exchange of India and COMEX, on expectations of a US-Iran peace deal after Israel and Lebanon agreed to a conditional ceasefire. In a joint statement released after a fourth round of US-mediated talks, the US, Israel and Lebanon said the ceasefire is contingent on a complete cessation of Hezbollah fire and the evacuation of all Hezbollah operatives from areas south of the Litani River.

Gold of 99.9% purity opened at INR 155,581 per 10 grams, up from Thursday's closing price of INR 155,036 per 10 grams. Meanwhile, market participants cautiously await the US non-farm payrolls report due on Friday, which could provide further direction on the Federal Reserve's monetary policy outlook, traders said.

Spot gold prices in Mumbai opened at INR 152,100 per 10 gram, as demand remained weak, according to Kumar Jain, spokesperson for the India Bullion and Jewellers Association. Dealers are offering a discount of INR 9,000 per 10 grams, traders said. Jain attributed the subdued retail demand to elevated gold prices and import duties. 

"Physical demand remained mostly subdued as elevated prices and import duties discouraged purchases," Jain said.  End

Edited by Avishek Dutta

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