Gold Prices Edge Up in Most Cities: 24K Surges in Chennai by ₹1,630 Over Friday's Pause

Mumbai, April 20: Gold prices traded up in India on Monday on account of strong safe-haven demand as tensions continued to escalate in the Middle East with no resolution in sight. The national price for gold 24K (99.9% purity) increased to ₹15,529 per gram or ₹1,55,290 per 10 grams  ₹1,090 higher than Friday’s national price of ₹1,54,200. The rate of 22K gold (91.6% purity) was fixed at ₹14,235 per gram or ₹1,42,350 for 10 grams, ₹1,000 higher than the previous closing price of ₹1,41,350. Gold of 18K purity (75% purity) was trading at ₹11,647 per gram or ₹1,16,470 for 10 grams, up ₹820 from yesterday’s level of ₹1,15,650. India’s unified national gold price movement indicated that gold has firmly reestablished itself as a safe-haven investment during times of crisis.

Gold rates in major cities on Monday were closely-packed but varied marginally due to localized demand and transportation costs. Chennai being a high-demand zone as always ruled the premium charts with gold price in Chennai for 24K being ₹1,56,650 per 10 grams, up significantly from ₹1,55,020 previously  a ₹1,630 increase. Mumbai, Kolkata, Hyderabad, Kerala, Bangalore and Pune quoted ₹1,55,290 for 10 grams of 24K gold, up from ₹1,54,200–₹1,55,580. Delhi traded 24K gold at ₹1,55,440 for 10 grams while Vadodara and Ahmedabad saw gold prices at ₹1,55,340 for 10 grams of 24 karat gold. The commonality in gold prices across Indian cities shows the nationwide sentiment rather than sporadic upticks in demand tensions between the US and Iran have investors across the country glued to their news screens.

Iran Crisis Deepens

Late last week a shaky ceasefire was agreed upon between US and Iran after Friday’s attack on two oil-pumping stations run by state-owned Aramco in Saudi Arabia that halved the country’s crude oil output. However, that ceasefire was tested on Monday as the US revealed it had captured an Iranian tanker attempting to smuggle crude oil through its naval blockade stationed off Bandar Abbas. Trump tweeted that the tanker is now in US custody. Iran quickly shot back stating “If they commit another foolish move, they will regret it,” Foreign Minister Mohammad Javad Zarif said on Monday. Iran has refused to join the table for a second round of talks until after Tuesday when the ceasefire is set to end. With talks halted and the Strait of Hormuz off-limits to shipping once again, gold’s safe-haven credentials have rarely looked brighter.

Oil Rally Adds Support

Both Brent crude oil and US West Texas Intermediate continued their rallies from last week as the Strait of Hormuz was closed off yet again. Brent climbed more than 6.76% to $96.49 per barrel and US WTI added 7.79% to $90.38 as both major crude oil benchmarks recovered from steep losses seen on Friday when the Straits closed. High oil prices fuel inflation which gold is known to hedge against — a classic reason to buy gold.

City-wise 10 Gram Gold Prices  Monday, April 20, 2026

Oil Prices Jumped

Benchmark crude oil prices jumped over 6% today with Brent crude futures climbing to $96.49 per barrel and WTI crude to $90.38 after both plummeted Friday nearly 9% over Strait of Hormuz closures following ceasefire violations where attacks on ships were reported.

Gold Bought On Safe-Haven Demand

Gold has always remained the ultimate Safe-Haven investment choice, loved by investors across the world. Every time trouble is spotted somewhere across the world, investors rush towards buying gold, be it currency or bullions or ETFs. Monday’s Gold price trend wasn’t an exception.

Tensions between U.S. and Iran increased on Monday after US seized an Iranian cargo ship amid threats of retaliation after a week-old ceasefire was breached through ship attacks at the Strait of Hormuz. With fears Oil prices could again be affected due to Strait of Hormuz blockades by both countries preventing each other from allowing their Oil shipments to pass through the channel, investors preferred buying Gold mildly higher across most cities in India over Equity markets.

Source:

•  www.goodreturns.in