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Informist, Wednesday, Jun. 17, 2026

By Reshma Ravi

MUMBAI – Average spot gold prices in India opened lower on Wednesday, tracking futures on the Multi Commodity Exchange of India and the COMEX, as market participants cautiously await the US Federal Reserve's monetary policy decision, scheduled to be announced Wednesday, traders said. Gold of 99.9% purity opened at INR 150,105 per 10 grams, down from Tuesday's close of INR 150,663 per 10 grams. In Mumbai, spot gold opened at INR 150,093 per 10 grams. Dealers are offering discounts of INR 1,000 per 10 grams, they said. 

However, the fall in prices is likely to be limited as market sentiment improved after an interim US–Iran peace agreement helped reduce geopolitical tensions and eased concerns about energy-driven inflation. "The agreement extends the existing ceasefire and facilitates the reopening of the Strait of Hormuz, easing supply concerns in global energy markets. Lower oil prices have subsequently reduced inflationary pressures, leading traders to reassess the likelihood of tighter monetary policy in the US," Kedia Advisory said in a note.

Meanwhile, "Physical gold demand showed mixed trends across major consuming nations. In India, jewellery demand improved modestly as softer prices encouraged buying, although overall retail confidence remained subdued," Kedia added.  End

Edited by Avishek Dutta

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