Gold slips on Tuesday; Drops Rs 710 per 10 gm

Mumbai, April 28: Gold rates in India traded marginally lower on Tuesday morning as fresh fears over US-Iran war eased buying interest on safe-haven, even as elevated crude oil prices and continuing inflation worries kept bullion supported at higher levels.

On Tuesday, prices of 24 karat gold, with purity of 99.9%, were at Rs 15,300 per gram as compared to Rs 15,371 per gram on Monday, down Rs 71 or 0.46%. Currently, Rs 15300 per gram 24K rates translates to Rs 1,53,000 for 10 grams as against Rs 1,53,710 for 10 grams on Monday. The price of 22 karat gold, with purity of 91.6%, fell to Rs 14,025 per gram from Rs 14,090 a day earlier, down Rs 65 or 0.46%.

Presently, Rs 14,025 per gram 22k gold costs Rs 1,40,250 for 10 grams, as against Rs 1,40,900 for 10 grams on Monday. Prices for 18 karat gold (purity at 75%) were quoted Rs 11,475 per gram, lower by Rs 53 or 0.46% against yesterday’s level of Rs 11,528. That means Rs 11475 per gram 18K rates translates to Rs 1,14,750 for 10 grams as against Rs 1,15,280 for 10 grams of gold yesterday.

Prices City-wise

As usual, the gold price slightly differs from one city to another in India due to local taxes and cess, and the markups of jewellers associations of the respective state. Chennai reported the highest rate of 24K gold at Rs 1,53,820 for 10 grams followed by Delhi at Rs 1,53,150, Vadodara and Ahmedabad both at Rs 1,53,050. Meanwhile, the national price of Rs 1,53,000 per 10 grams for 24K gold was followed by Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune.

As for 22K gold rates per 10 grams, Chennai traders were quoting Rs 1,41,000 while in Delhi it was available at Rs 1,40,400. In Gujarat, the precious metal was retailing at Rs 1,40,300 per 10 grams in both Vadodara and Ahmedabad. 22 karat gold costs Rs 1,40,250 per 10 grams in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune. For 18K gold rates per 10 grams, 18 karat was selling at Rs 1,17,600 in Chennai, Rs 1,14,900 in Delhi and Rs 1,14,800 in both Vadodara and Ahmedabad. Meanwhile, the rest of cities traded at national level of Rs 1,14,750 per 10 grams.

Iran War Tension

Iran tensions and its impact on energy prices remain bullish theme for gold prices as Strait of Hormuz remains shut for most of the part and Brent Crude is trading above $108 per barrel. As crude oil futures are climbing higher on supply fears, global inflation is becoming an increasingly prominent theme that could send consumer prices higher. Rising inflation is generally considered bullish for gold.

The risk of US President Donald Trump launching a military strike on Iran has subsided for now but tensions remain elevated with Trump ruling out talks with Tehran for now and Tehran setting very tough conditions that will be hard for Washington to accept, analysts said. A weaker US dollar amid growing fiscal uncertainties is also aiding demand for gold among overseas buyers as they can now purchase dollar-denominated bullion at cheaper rates.

Multiple central banks around the world (especially those in emerging economies) have been ramping up their gold purchases to diversify away from the US Dollar and as a hedge against their weakening currencies against greenback as years of cheap dollars has fueled debt loads in their economies. Beijing, New Delhi, Ankara and Warsaw among others have stepped up purchases in recent years as they see gold as a politically neutral reserve asset that can protect their balance sheets from shocks coming out of Washington.

Gold Rates Across Indian Cities — 10 Grams (April 28, 2026)

Source:

• goodreturns.in