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Informist, Friday, Jun. 12, 2026

By Reshma Ravi

MUMBAI – Average spot gold prices in India opened 2% higher on Friday, tracking futures on the Multi Commodity Exchange of India and COMEX. Gold of 99.9% purity opened at INR 147,609 per 10 grams, up from Thursday's closing price of INR 144,782 per 10 grams. In Mumbai, spot gold opened at INR 151,690 per 10 grams.

Spot gold prices rose due to growing optimism surrounding a potential peace agreement between the US and Iran, which eased crude oil prices, which in turn reduced fears about inflation. The US President Donald Trump said he called off another round of military strikes against Iran, claiming that a deal with Tehran was close to being finalised and a "time and place of the signing" are "to be announced shortly," Al Jazeera reported. 

Dealers were offering a discount of about INR 500 per 10 grams, said Nitin Kedia, national general secretary of the All-India Jewellers & Goldsmith Federation. Gold demand in the country saw a modest improvement as the recent decline in prices encouraged jewellery purchases, although buyers remained cautious. The correction in prices brought some consumers back to the market, particularly those looking to buy jewellery, Kedia said. On Thursday, spot gold prices in India dropped over 3% to their lowest since early May, falling below pre-duty hike levels. End

Edited by Akul Nishant Akhoury

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