Last Updated:June 24, 2025, 09:42 IST
Gold Price Today: Gold and silver prices fall sharply on Tuesday in India following Iran-Israel ceasefire talks post the days of escalation.
Gold prices have fallen sharply after Iran-Israel ceasefire.
Gold Prices In India Today, June 24: Gold and silver prices in India on Tuesday fell sharply following the reports of Iran-Israel ceasefire, halting the days of escalation. In Mumbai, the price of gold stood at Rs 91,550 per 10 grams for 22-carat and Rs 99,870 per 10 grams for 24-carat. Silver was also trading down at Rs 1,00,900 per kg in the city.
Gold futures on the MCX experienced volatility, with prices falling about 1.23% to around Rs 98,168 per 10 grams after peaking above Rs 1,00,000 earlier this month. This decline comes after reports of a ceasefire between Israel and Iran, which has eased safe-haven demand for gold.
Silver futures on the MCX have also seen a pullback, trading at approximately Rs 1,05,962 per kg, down 0.75%. This follows a high of Rs 1,10,000 per kg in August futures earlier in the month, driven by heightened Middle East tensions. The ceasefire news has tempered speculative buying, with silver prices reflecting a cautious market sentiment.
Crude oil futures on the MCX have witnessed a sharp decline, dropping around 8% overnight to approximately Rs 6,475 per barrel on June 23, following the ceasefire announcement. Earlier, prices had surged over 10% to Rs 6,324 per barrel amid fears of supply disruptions due to Israel-Iran tensions and U.S. strikes on Iranian nuclear sites. The ceasefire has alleviated concerns about disruptions in key oil-producing regions, particularly the Strait of Hormuz, leading to a bearish outlook.
These spot prices do not include making charges and 3% GST.
On June 13, Israel launched a large-scale attack across Iran, targeting key nuclear and military facilities under “Operation Rising Lion.” The strike came a day after the Israel Defense Forces (IDF) issued a warning urging residents of Tehran to evacuate. Israeli Prime Minister Benjamin Netanyahu said the operation aimed to “roll back the Iranian threat to Israel’s very survival,” following weeks of rising tensions. This escalation was triggered by Iran’s earlier missile and drone attack, which itself was a retaliation for an Israeli strike on its consulate in Damascus.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 92,440 | Rs 1,00,830 |
| Jaipur | Rs 92,440 | Rs 1,00,890 |
| Ahmedabad | Rs 91,600 | Rs 99,920 |
| Patna | Rs 91,600 | Rs 99,920 |
| Mumbai | Rs 91,550 | Rs 99,870 |
| Hyderabad | Rs 91,550 | Rs 99,870 |
| Chennai | Rs 91,550 | Rs 99,870 |
| Bengaluru | Rs 91,550 | Rs 99,870 |
| Kolkata | Rs 91,550 | Rs 99,870 |
How Will the Iran-Israel Conflict Impact Gold Prices In India?
Gold and silver prices rallied sharply on the first day of the ongoing Israel-Iran war, boosting safe-haven demand. However, the prices are hovering around the same level since then.
Also Read: Gold May See 10% Correction In 2 Months And 30% Fall In A Year, Say Experts
Experts say the gold prices are likely to have peaked out and might see a correction of 10-12 per cent in the next two months.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
- First Published:
#Gold #Price #Today #Yellow #Metal #Falls #IranIsrael #Ceasefire #CheckLatestRates #Savings #Investments #News
