Gold Prices Tumble on Thursday  

Mumbai, April 23: Gold prices crashed hard on Thursday across India, registering the biggest single-day drop in several trading sessions on strong profit booking, easing short-term Iran war fears and a slight pullback in oil from above $100 per barrel – driving investors to square off their positions in bullion.

National Gold Rates

The national benchmark for 24-karat gold (99.9% purity) fell to ₹15,355 per gram — or ₹1,53,550 for 10 grams — down ₹120 per gram from Wednesday. The 22-karat rate (91.6% purity) slipped to ₹14,075 per gram, equivalent to ₹1,40,750 for 10 grams, while 18-karat gold (75% purity) eased to ₹11,516 per gram, or ₹1,15,160 for 10 grams. The breadth and uniformity of Thursday’s decline across all three purities suggests this is a macro-driven repricing rather than a localised demand softness.

Compared to Wednesday’s national prices, Thursday’s correction is meaningful and uniform. The 24K rate has fallen by ₹120 per gram — a drop of ₹1,200 per 10 grams — from Wednesday’s ₹1,54,750. The 22K rate has declined by ₹110 per gram (₹1,100 per 10 grams) from Wednesday’s ₹1,41,850, while the 18K rate is down ₹90 per gram (₹900 per 10 grams) from ₹1,16,060. This is the largest single-day correction in national gold prices since the current Iran-driven rally began, and marks a clear break from the steady or gently easing price action of the previous two sessions. Thursday’s sell-off was broad based with all purity levels registering similar declines indicating a macro driven correction rather than pressure from weakness in domestic demand.

This crash comes after Wednesday’s jump when gold prices increased at national level to ₹1,54,750 per 10 grams for 24 karat gold – its highest ever level. After a steep rise in the previous two sessions prices of gold corrected on Thursday across all purity levels. For 24 karat gold prices fell ₹120 per gram (₹1,200 per 10 grams) compared to Wednesday’s ₹1,54,750. Prices of 22 karat gold came down by ₹110 per gram (₹1,100 per 10 grams) from Wednesday’s ₹1,41,850 to ₹1,40,750 while 18K gold rates dipped ₹90 per gram (₹900 per 10 grams) from ₹1,16,060 to ₹1,15,160. This is the biggest single-day plunge in national level gold prices after rally began late last week on escalating Iran-US tensions.

Prices City-wise

Thursday Gold prices in key cities on 23 April for 10 grams of gold came down similar to national average. In Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune gold prices Thursday came down ₹1,200 to ₹1,53,550 for 24K gold from Wednesday’s ₹1,54,750. Delhi witnessed a dip of ₹1,200 Thursday to ₹1,53,700 from ₹1,54,900 while Ahmedabad and Vadodara prices fell ₹1,200 Thursday to ₹1,53,600 for 24K gold from Wednesday’s ₹1,54,800. Chennai, which typically trades at a premium saw gold rates Thursday to ₹1,54,480 for 24K gold – a dip of ₹980 from ₹1,55,460.

Oil Prices

Crude prices also influence movement in gold prices and Thursday was no exception. Brent crude oil futures pulled back slightly to trade at $101.76 per barrel after closing above $100 per barrel Wednesday for first time in last two weeks. And even though oil prices retreated Thursday from highs seen last week it was enough to trigger profit booking in gold. Moderate crude prices tend to ease inflation expectations that otherwise fuels safe haven demand for gold. West Texas Intermediate or WTI crude oil also fell Thursday to $92.82 per barrel.

City-wise 10 Gram Gold Prices — Thursday, April 23, 2026

Source:

• www.goodreturns.in