Gold Steady on Tuesday as Iran-US Ceasefire Expires this Week 

Mumbai, April 21: Gold prices on Tuesday held steady across India. The national spot price of gold carried over from Monday with no changes in any of the three major purity rates, underscoring traders’ apparent preference to sit on the sidelines until there’s more clarity on Iran-US peace talks that expire later this week.

The national price for 24-karat gold stood at ₹15,529 per gram, or ₹1,55,290 for 10 grams. The 22-karat rate held at ₹14,235 per gram, equivalent to ₹1,42,350 for 10 grams. The 18-karat rate was pegged at ₹11,647 per gram, or ₹1,16,470 for 10 grams. The complete absence of any movement from Monday’s levels tells its own story  gold is neither being sold into nor is it rallying aggressively, as traders wait for decisive news from the Iran-US diplomatic front before making their next move.

Citywise

Gold prices across India’s top cities were also stable, as per February 28 gold rates issued by the network of PP Jewellers. Prices in Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune held steady at ₹1,55,290 for 24K gold – same as Monday. Delhi gold price was unchanged at ₹1,55,440 and gold rate in Vadodara and Ahmedabad held at ₹1,55,340. Only Chennai recorded slightly lower gold prices on Tuesday compared to Monday’s close, with 24K gold losing ₹650 to ₹1,56,000 per 10 grams. Both the 22K and 18K gold rates eased in Chennai too.

Middle East Conflict

The Iran conflict continues to be the principal driver keeping gold prices elevated. Iran is considering attending peace talks with the US in Pakistan before the two-week ceasefire expires this week, but Tehran has stressed that no decision has been made and that continued ceasefire violations by Washington remain a major obstacle to diplomacy — a fluid situation that is keeping safe-haven demand for gold firmly intact.

Gold as Safe-haven Asset

Gold’s enduring appeal as a safe-haven asset rests on a foundation that no paper currency can replicate. Unlike equities or bonds, gold carries no counterparty risk — it cannot default, be devalued by a central bank’s printing press, or be frozen by a government — making it the instinctive refuge of choice whenever geopolitical crises, inflationary shocks, or currency collapses threaten the value of conventional financial assets.

Oil Prices

Oil prices extended overnight losses after markets reacted positively to news that Iran was considering sending delegates to Pakistan to resume peace talks with the US. Brent crude futures were last down about 1% at $94.53 a barrel, while West Texas Intermediate (WTI) crude futures fell 1.72% to $88.07.

City-wise 10 Gram Gold Prices — Tuesday, April 21, 2026

Source:

• goodreturns.in