Gold Prices in India Drop by ₹300; Analysts Expect Range-Bound Trend Amid Geopolitical Uncertainties

On 7 April 2026, the price of 24K gold at ₹149,670 per 10 grams, reflecting a loss of ₹300 compared to its previous close. Meanwhile, 22K gold is at ₹137,198 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 7 April 2026 the price of 24K gold in India is at ₹149,670 per 10 grams, while in Dubai it is ₹140,560, reflecting a difference of ₹9,110 or 6.48%. Similarly, 22K and 18K gold prices in India were also about 6.48% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending sideways amid uncertainties pertaining to tensions in the Middle East and a record-high dollar index. A firm dollar makes precious assets like gold more expensive for other currency holders, thereby denting demand. Iran said on Monday that it is willing to end the war with the US and would reopen the trade route—the Strait of Hormuz —if the US agrees to end the war. However, oil prices remain elevated, which continues to spike inflationary concerns, thereby increasing demand for interest-yielding assets. ALSO READ Mandatory gold hallmarking introduced in seven more districts; 4 things to know while buying hallmarked jewellery Markets currently price in no rate cuts by the US Federal Reserve for this year, in contrast to pre-war expectations of a forecast of two rate cuts. Analysts expect gold prices to remain range-bound in the near term amid geopolitical uncertainties prevailing in the US-Israel war with Iran. Soaring prices of oil, along with the dollar index, continue to weigh on investor sentiment for gold. Inflationary concerns worldwide have shifted central banks towards a hawkish stance. “MCX Gold June futures are likely to find support near Rs 149,000/10g and appreciate during the session,” 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 6th April 2026: Silver is up by 0.26%; check prices in Mumbai, Bengaluru, Hyderabad, Delhi, Ahmedabad