Gold Prices Dip ₹82 in India; Selling Pressure Pulls Bullion Down 

Mumbai, April 7: Spot gold prices across India dipped Tuesday on profit booking and a risk-off global mood, which pulled bullion lower for the second straight session. The all-India prices of 24 karat gold declined ₹82 to ₹14,984 per gram. 22 karat gold came down ₹75 to ₹13,735 and 18 karat gold dipped ₹61 to ₹11,238, data from Goodreturns.in showed. All variants and most cities reported softer prices, signalling broad-based selling pressure even amid worsening geopolitical tensions in the Middle East.

City-Wise Rates

Marking another day where Chennai reported the highest premium across all cities in India, rates for 24K gold in Chennai settled at ₹15,120 per gram today — ₹136 above the national price. Rates for 22K gold and 18K gold settled at ₹13,860 and ₹11,560 per gram respectively. Premium in Chennai and to some extent Hyderabad have remained historically high over the national average owing to strong jewellery demand in the south of India and local operational costs. The dip in Chennai was also the highest today when looking at absolute prices. Gold in Chennai settled down ₹142 for 24K gold.

Following closely behind Chennai are Delhi where 24K gold trades at ₹14,999 per gram — just ₹15 above the national rate. Delhi gold prices for 22K and 18K gold settled at ₹13,750 and ₹11,253 — down ₹82 and ₹75 respectively, mirroring the decline seen at the national level. Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune all reported prices at the national average of ₹14,984 for 24K, ₹13,735 for 22K and ₹11,238 for 18K gold. All zones saw parallel dips of ₹82, ₹75 and ₹61 for 24K, 22K and 18K gold respectively. Only Vadodara and Ahmedabad trade above the national level by ₹5. Prices for 24K gold in both cities settled at ₹14,989 followed by ₹13,740 for 22K gold and ₹11,243 for 18K gold — down ₹82 on the day.

Many investors bought gold aggressively at prices above ₹15,200 per gram in the first few months of 2026. As prices cooled from those highs, investors are booking profits from the recent rally. Moreover, traders were expecting strong safe-haven demand into gold following intensified tensions between Iran and the US last week. But this time around, traders said the risk-off move is being driven by uncertainty over Trump’s deadline on Tuesday night with traders reducing risk across the board — including in gold.

Geopolitical Tensions Continue to Escalate

Tuesday’s movement in spot gold prices comes after Iran said it wanted a lasting end to the war with the U.S. and Israel, and pushed back against pressure to reopen the Strait of Hormuz, while US President Donald Trump warned the country could be “taken out” if it did not meet his Tuesday night deadline to reach a deal.

Gold Rates Trend Higher After Falling to Multi-Week Lows Last Week

Gold prices traded with high volatility over the course of last week. On April 1, Indian bullion prices opened near ₹15,300 per gram for 24K gold and ₹13,770 for 22K gold. By Thursday, April 4, gold prices plunged to their lowest levels in nearly two weeks at ₹14,897 for 24K gold and ₹13,655 for 22K gold amid sharp selling and profit booking. Rates bounced off these lows to top ₹15,100 by Friday, April 3, holding near these levels through April 5 before slipping into the ₹15,000 region on April 6.

Gold Rates

Source: Goodreturns.in