Gold Prices Soar in India as Ceasefire Agreement Between US and Iran Boosts Sentiment
On 8 April 2026, the price of 24K gold at โน152,180 per 10 grams, reflecting a gain of โน1,850 compared to its previous close. Meanwhile, 22K gold is at โน139,498 per 10 grams. Gold prices in India are largely influenced by international spot gold rates, US dollar fluctuations, and import duties on Gold among other things. Gold prices in India continue to remain higher than in Dubai. On 8 April 2026 the price of 24K gold in India is at โน152,180 per 10 grams, while in Dubai it is โน140,560, reflecting a difference of โน11,620 or 8.27%. Similarly, 22K and 18K gold prices in India were also about 8.27% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices extended sharp gains as Donald Trump agreed on a ceasefire plan with Iran to back off military strikes. The yellow metal gained as oil prices slipped sharply, as Iran confirmed the reopening of the crucial trade routeโthe Strait of Hormuz , which transits roughly 20% of the global energy flows. The slip in crude oil prices also softened the dollar index, which further boosted sentiment for gold, as a soft dollar makes precious assets like gold less expensive for other currency holders, thereby aiding demand. ALSO READ Gold, silver prices jump as oil crashes 13%: Why the Trump-Iran ceasefire is a relief for bullion However, markets continue to assess the near-term impact of the negotiations between the US and Iran, which will further determine the trajectory for the yellow metal, which has declined by nearly 25% since the start of the West Asia war. Markets currently price in no rate cuts by the US Federal Reserve for this year. Analysts expect gold prices to extend slight gains in the near term over ceasefire optimism. The reopening of the Hormuz route is likely to help ease inflationary pressures, further boosting demand for the yellow metal. However, markets remain cautious, as the US President has previously changed his stance multiple times over the conflict. Traders currently price in no rate cuts by the US Federal Reserve for this year. โMCX Gold June futures are likely to appreciate to Rs 152,500/10g,โ said Jigar Trivedi, Senior Research Analyst at Indusind Securities. Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Silver Rate Today 8th April 2026: Silver is up by 5.77%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad