Gold Slips For 3rd Straight Day on Thursday; Iran Blockade Strategy Keeps Traders Cautious

Mumbai, April 30: Gold prices in India extended their losing streak into a third consecutive session on Thursday. The price of 24-karat gold was down ₹71 per gram to ₹15,066 per gram.

National-level Price 

The national benchmark for 24-karat gold (99.9% purity) eased ₹71 per gram to ₹15,066 per gram — or ₹1,50,660 for 10 grams — down ₹710 per 10 grams from Wednesday’s rate of ₹15,137 per gram (₹1,51,370 for 10 grams). The 22-karat rate (91.6% purity) slipped ₹65 per gram to ₹13,810 per gram, or ₹1,38,100 for 10 grams, against Wednesday’s ₹13,875 per gram (₹1,38,750 for 10 grams) — a fall of ₹650 per 10 grams. The 18-karat rate (75% purity) declined ₹54 per gram to ₹11,299 per gram, or ₹1,12,990 for 10 grams, from Wednesday’s ₹11,353 per gram (₹1,13,530 for 10 grams) — a reduction of ₹540 per 10 grams across all purities. 

City-Wise Gold Prices — South, East and West 

Chennai retains its position as India’s most expensive gold market on Thursday. Ten grams of 24K gold costs ₹1,51,640 in the city, while 22K and 18K are priced at ₹1,39,000 and ₹1,15,750 respectively — a premium of ₹980 over the national benchmark on the 24K rate, slightly wider than usual. Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune all track the national benchmark uniformly — ₹1,50,660 for 24K, ₹1,38,100 for 22K and ₹1,12,990 for 18K gold per 10 grams, with no local price divergence across these six major markets. 

City-Wise Gold Prices — North and West 

Delhi is priced at ₹1,50,810 for 24K, ₹1,38,250 for 22K and ₹1,13,140 for 18K gold per 10 grams — a ₹150 premium over the national benchmark on the top purity. Ahmedabad and Vadodara both quote ₹1,50,710 for 24K, ₹1,38,150 for 22K and ₹1,13,040 for 18K per 10 grams — sitting ₹50 above the national rate, reflecting local jewellers’ association markups that have held steady through the week. 

Iran War and the Safe-Haven Paradox 

The strategic picture in the Middle East remains deeply uncertain — and paradoxically, that uncertainty is both weighing on and supporting gold at the same time. Trump, for now, is digging into a maximum economic pressure strategy against Iran, keeping the naval blockade firmly in place while his team lays the groundwork for a longer-term closure of the Strait of Hormuz, with the aim of forcing Tehran back to the negotiating table without resuming military strikes.  

The absence of any imminent escalation has allowed some safe-haven premium to bleed out of gold prices over the past three sessions — hence the slide from Tuesday’s ₹1,53,000 to today’s ₹1,50,660 for 24K per 10 grams. Yet the sustained blockade, the closed Strait and the ever-present threat of renewed conflict mean that investors continue to view gold as the one reliable hedge in their portfolios, keeping any selloff shallow and well-supported — and ensuring that the next geopolitical flare-up will likely send the metal sharply higher again. 

Gold Rates Across Indian Cities — 10 Grams (April 30, 2026) 

Source: goodreturns.in