Gold Rates April 17: Gold Rally Pauses; Prices Stay Unchanged Following Recent Surge

Mumbai, April 17: Gold prices across India maintained their upward momentum on Friday, with the national benchmark for 24K gold steady at ₹15,420 per gram, equivalent to ₹154,200 for 10 grams. 22K gold traded at ₹14,135 per gram or ₹141,350 for 10 grams, while 18K gold was priced at ₹11,565 per gram, totalling ₹115,650 for 10 grams. This stability comes after Thursday’s gains, where the national 24K rate for 10 grams rose to ₹155,570, up ₹220 from the previous day, reflecting sustained investor interest.

City-Wise Prices

The rate for 24K 10 grams Gold in Chennai was around ₹155,020 and enjoyed a premium because of high demand locally. National Capital Region maintained similar rates as Gold price in Delhi for 24K 10 grams was ₹154,350 while Gold price in Mumbai for 24K 10 grams was ₹154,200. Kolkata, Hyderabad and Kerala cities’ gold rates are almost similar to Mumbai and Delhi at ₹154,200 for 24K 10 grams. Bangalore and Pune have slightly higher rates at ₹155,580 as of recent reports. Gold price in Vadodara and Ahmedabad quoted at ₹154,250.

Iran War

A ceasefire between Lebanon and Israel began Thursday for 10 days. US President Donald Trump announced that the United States and Iran could meet again this weekend. Trump’s remarks brought optimism among traders that the war with Iran might come to an end soon. However, Iran war news also strengthen the safe-haven demand for Gold.

Conflicts and Gold Prices

Gold continues to trade well supported on a weak dollar and as a hedge ahead of Indian wedding season even as physical demand remains low. War or geopolitical crisis has a high positive correlation with gold price. Gold continues to be the favourite safe-haven asset class during geopolitical crises. Iran war keeps rallying the investors to put their money on Gold and hence the rates are elevated even when the talks are taking place. If war resolutions are announced then expect a correction but as long as the war situation is unclear, the prices will hold on to its higher levels. Gold prices have risen for three consecutive sessions.

Key Takeaways

National 10g rates: 24K ₹154,200, 22K ₹141,350, 18K ₹115,650. City prices cluster tightly, with southern hubs slightly elevated. Iran peace hopes sustained safe-haven flows.

Gold Prices Across Different Cities (10 gm)

Source: 

• https://www.goodreturns.in/gold-rates/