Gold Prices Dip to ₹1,54,750 for 10 grams on Wednesday as Iran Peace Talk Hopes Temper Safe-Haven Demand

Mumbai, April 22: Gold price on Wednesday lost ground for the first time in three days in India as investors booked profits on spot bullion after US President Donald Trump’s announcement of an indefinite extension to the ceasefire with Iran sparked hopes that the Tehran-Washington talks would produce results, offsetting Iran’s threats to break the American naval blockade by force.

National Gold Rate

Gold priced at ₹15,475 per gram — or ₹1,54,750 for 10 grams — on Wednesday down ₹54 on Tuesday for 24K purity (99.9%). Prices of 22K gold (91.6% purity) slipped to ₹14,185 per gram or ₹1,41,850 for 10 grams and those of 18K gold (75% purity) fell ₹100 to ₹11,606 per gram or ₹1,16,060 for 10 grams.

Gold Price in Different Cities

24K Rate Today was ₹1,54,750 per 10 grams in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune on Wednesday, down ₹540 from ₹1,55,290 on Tuesday while 22K gold in these cities traded at ₹1,41,850 on Wednesday as compared to ₹1,42,350 on Tuesday (₹500 fall). Gold rate for 18K came down to ₹1,16,060 per 10 grams from ₹1,16,470 on Tuesday ( ₹410 decrease).

Delhi saw a ₹540 dip in 24K gold prices to ₹1,54,900 per 10 grams on Wednesday from ₹1,55,440 on Tuesday. Gold rate for 24K today was ₹1,54,800 per 10 grams in Vadodara and Ahmedabad as well down ₹540 from previous closing of ₹1,55,340.

The Chennai Gold rate today was higher than other Indian cities but it too fell on Wednesday. 24K Gold in Chennai traded at ₹1,55,460 per 10 grams today from ₹1,56,000 on Tuesday, a decrease of ₹540 per 10 grams. While 22K gold traded at ₹1,42,500 (-₹500) and 18k gold traded at ₹1,18,040 (-₹510). The fall in Chennai 18k gold prices was the steepest among metros.

Oil Rate Today

Oil was closely watching on Wednesday as crude prices spiked well above $100 a barrel in overnight trade before easing back following Trump’s announcement, settling up 4.4% at $99.67.

Gold-Oil Prices

Brent crude had surged above $100 a barrel overnight before retreating after Trump’s ceasefire extension announcement, ultimately settling up 4.4% at $99.67 — a level that ordinarily would be deeply supportive for gold as an inflation hedge. However, the partial easing of oil prices from their intraday highs, combined with the initial optimism that peace talks in Pakistan might yield results, reduced the urgency of safe-haven buying and allowed some profit-taking to emerge. The interplay between oil and gold remains tight — if crude firmly establishes itself above $100, expect gold to reverse today’s modest dip and resume its upward trajectory

Middle East Conflict

Any fresh escalation in the Middle East conflict could quickly reverse Wednesday’s price dip and send gold meaningfully higher. President Trump’s ceasefire extension announcement was met with open skepticism in Tehran, with Iran’s Revolutionary Guards-affiliated media repeating threats to break the US naval blockade by force — a scenario that, if it materialises, would almost certainly trigger a flight-to-safety rush into gold.

The Strait of Hormuz remains the world’s most critical energy chokepoint, and any resumption of hostilities there would simultaneously spike oil prices and gold, delivering a double inflationary shock that central banks would struggle to contain. As long as the diplomatic situation remains unresolved and Iranian officials refuse to formally endorse the ceasefire extension, gold’s downside is likely to remain limited and any dip — including today’s — should be viewed as a consolidation rather than a reversal.

City-wise 10 Gram Gold Prices — Wednesday, April 22, 2026

Source:

• goodreturns.in