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After the agreement between America and Iran, the movement of ships through the Strait of Hormuz has started normalising, which has brought relief to the global oil market.
On June 16, 2026, 24 carat gold in the country is priced between Rs 1.53 lakh and Rs 1.59 lakh for 10 grams. Whereas 22 carat gold is around Rs 1.40 lakh to Rs 1.46 lakh per 10 grams.
After US and Iran officials said they had reached a preliminary deal to end their conflict, US gold rose 2 per cent on Monday and Spot gold was up 2 per cent at $4,304.11 per ounce.
On the Multi Commodity Exchange (MCX), gold futures (August) increased as much as 1.11 per cent or Rs 1,668 to hit an intraday high of Rs 1,50,600.
As soon as the news of a possible peace agreement between America and Iran arrived, investors' confidence in "safe haven" gold was shaken
There was a big fall in crude oil in the international market on Friday. Brent crude fell 3.37% to Rs 87.33 a barrel – its lowest level in almost two months
Amid the ongoing conflict in Iran and rising tensions around the Strait of Hormuz, petrol and diesel prices are fluctuating.
Spot gold was down 0.3 per cent at $4,200.82 per ounce. US gold futures for August delivery rose 2.6 per cent to $4,222.10.
Spot gold was down 0.2 per cent at $4,063.87 per ounce, spot silver fell 0.9 per cent to $63.15 per ounce and platinum lost 0.6 per cent to $1,655.06.
On Wednesday, June 10, 24-carat gold was priced at around Rs 15,168 per gram across the country. Whereas 22 carat gold, which is most used in making jewellery, is priced around Rs 13,904 per gram.
Amid the ongoing conflict in Iran and rising tensions around the Strait of Hormuz, petrol and diesel prices are fluctuating.
Gold and silver prices plummeted sharply on Monday due to surging crude oil costs, anticipated central bank interest rate hikes, and widespread institutional profit-booking.
