Gold Holds Shine: Prices Edge Higher on Thursday

Mumbai, April 16: Gold prices held on to gains on Thursday after rallying for three consecutive days, while hopes of a diplomatic deal over the war with Iran continued to keep risk sentiment mixed. The national price of 24K gold for 10 grams was quoted at ₹1,55,570 on Thursday, up ₹220 from Wednesday’s national price of ₹1,55,350. As geopolitical tensions eased and the dollar weakened further, prices of the yellow metal rallied today as expectations of a diplomatic solution to the war with Iran remain high.

Retail prices of gold in different cities came in as follows – Chennai topped the list where 24K gold was available at ₹1,56,660 for 10 grams on Thursday marking a rise of ₹440 from the price of ₹1,56,220 on Wednesday. The gold price in Mumbai went up by ₹220 from ₹1,55,350 to ₹1,55,570 for 10 grams on Thursday.

24K gold prices in Delhi were available at ₹1,55,720 as compared to Wednesday’s price of ₹1,55,500 which is a rise of ₹220. Kolkata, Bangalore and Hyderabad reported a rise of ₹220 each and were available at ₹1,55,570 for 10 grams as against ₹1,55,350 on Wednesday. Gold prices in Kerala were available at ₹1,55,570 for 10 grams, up ₹220 from Wednesday’s level of ₹1,55,350. Similarly, gold in Pune also rose ₹220 to ₹1,55,570 from previous days price of ₹1,55,350 for 10 grams.

Going by the West, gold in Vadodara was available at ₹1,55,620 for 10 grams which is ₹220 higher than Wednesday’s level of ₹1,55,400. Meanwhile, gold in Ahmedabad went up by ₹220 as well to ₹1,55,620 for 10 grams as compared to the previous price of ₹1,55,400.

Gold has gained across three sessions now as it has benefited from multiple factors- a weaker dollar and muted physical demand ahead of the wedding season in India failing to outweigh firm safe-haven buying by investors. While analysts expect prices to rally further going into next week as well.

Crude Takes a Dip

Oil prices slipped Thursday as investors reacted positively to a report that Iran could allow ships through the Strait of Hormuz to pass through Oman’s Strait of Hormuz if a peace agreement was reached between Washington and Tehran. Brent crude futures fell 44 cents, or 0.5% to $94.49 a barrel by 0528 GMT, while US West Texas Intermediate crude slid 70 cents, or 0.8% to $90.59.
Higher oil prices are generally considered inflationary and gold benefits from investors hedging against higher inflation. With oil prices easing and some of the geopolitical risk premium coming out of the markets, gold prices are likely to fall back from their recent gains as worries about rising inflation ease.

Global Markets Rise on Iran Peace Prospect

Global markets have witnessed strong moves this week as investors start to price in the possibility of a diplomatic solution with Iran over the war. On Wednesday, Wall Street benchmarks surged to record highs as US President Donald Trump expressed confidence that Washington and Tehran can reach a deal. Asian markets have been trading with a positive bias on Thursday and Japan’s Nikkei advanced 1.5% while the MSCI Asia-Pacific popped to another record high for a third consecutive day. In India, BSE Sensex and NSE Nifty opened the day on a strong note as well with both indexes surging smartly higher.

24K Gold Prices Across Major Cities — Thursday, April 16, 2026 (per 10 grams)

Source: 

• www.goodreturns.in