Gold Prices Fall in India Amid US-Iran Conflict and Weak International Market

On 13 April 2026, the price of 24K gold at ₹151,540 per 10 grams, reflecting a loss of ₹1,090 compared to its previous close. Meanwhile, 22K gold is at ₹138,912 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 13 April 2026 the price of 24K gold in India is at ₹151,540 per 10 grams, while in Dubai it is ₹143,502, reflecting a difference of ₹8,038 or 5.60%. Similarly, 22K and 18K gold prices in India were also about 5.60% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending down on a firm dollar , backed by failed peace talks between the US and Iran. Gold prices have fallen by nearly 10% since the start of the West Asia conflict. US President Donald Trump announced a complete blockade of the crucial trade route—the Strait of Hormuz —over which oil prices spiked. The surge in oil prices further weighed on investor sentiment for gold, as it amplifies inflationary concerns. The rise in crude and energy prices has reinforced expectations of tighter monetary policy by central banks globally. ALSO READ Gold Rate Today 10th April 2026: Gold is down by 0.17%; check prices in Mumbai, Chennai, Delhi, Bengaluru Markets currently price in no expectations of a rate cut by the US Federal Reserve, in contrast to the pre-war expectations of two rate cuts. Analysts expect gold prices to trade with a negative bias in the near term, as Trump’s blockade of the Hormuz route starts later in the day. Markets would monitor developments in the US-Iran conflict and look out for oil prices, which will further provide cues for the bullion markets. Additionally, expectations of rate hikes by central banks globally would be watched. “MCX Gold June futures may drop to Rs 151,500/10g as the trend is expected to remain weak in the international markets too,” 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 10th April 2026: Silver is down by 0.27%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad