Gold and silver prices moved higher on Monday after reports suggested that Iran and the United States are getting closer to a possible peace agreement.
The development could reopen the Strait of Hormuz, one of the world’s most important oil shipping routes.
The news also triggered a sharp fall in crude oil prices, while investors shifted their focus toward safe-haven assets like gold.
Gold Rates Rise Across India
On the Multi Commodity Exchange (MCX), gold futures climbed 0.37% and reached Rs 1,59,265 per 10 grams.
In Mumbai, 24-carat gold was priced at Rs 1,59,050 per 10 grams.
Meanwhile, 22-carat gold stood at Rs 1,45,790 per 10 grams. These prices do not include GST and making charges.
Gold prices also remained strong in other major Indian cities:
| City | 22K Gold (per 10 gm) | 24K Gold (per 10 gm) |
|---|---|---|
| Delhi | Rs 1,45,880 | Rs 1,59,150 |
| Jaipur | Rs 1,45,880 | Rs 1,59,150 |
| Ahmedabad | Rs 1,45,830 | Rs 1,59,100 |
| Pune | Rs 1,45,830 | Rs 1,59,100 |
| Mumbai | Rs 1,45,790 | Rs 1,59,050 |
| Hyderabad | Rs 1,45,790 | Rs 1,59,050 |
| Chennai | Rs 1,45,790 | Rs 1,59,050 |
| Bengaluru | Rs 1,45,790 | Rs 1,59,050 |
| Kolkata | Rs 1,45,790 | Rs 1,59,050 |
Crude Oil Prices Fall After Peace Signals
Oil prices dropped sharply after US President Donald Trump stated that the US and Iran were “very close” to reaching a peace deal.
Brent crude futures slipped below $100 per barrel as hopes of reduced tensions in the Gulf region increased.
A peace agreement could improve oil supply routes and reduce pressure on global energy markets.
However, Trump later clarified that the US would not rush into signing any agreement, even though discussions with Iran are still ongoing.
Why Gold Prices Matter in India
Gold plays an important role in India, both culturally and financially.
It is considered a trusted investment and is widely purchased during weddings, festivals, and special occasions.
Gold prices in India are affected by several factors, including:
International gold rates
Import duties and taxes
Currency exchange rate movements
Global political and economic developments
Because prices change daily, investors and buyers closely track market trends before making decisions.
Investors Keeping a Close Watch
With global uncertainty continuing, market experts believe gold could remain volatile in the coming days.
Investors are now watching international negotiations, crude oil movements, and currency fluctuations carefully, as these factors could decide the next direction for gold and silver prices.
