Gold Prices Steady on April 7, 2026: 24K Near ₹1.50 Lakh; Check Latest Rates in Delhi, Mumbai & Chennai
US-Iran standoff, firm dollar, and rising crude prices keep bullion steady as markets await Fed cues
Mumbai, April 7 : Remained largely unchanged as global markets reacted cautiously to escalating geopolitical tensions and macroeconomic signals. Bullion traded flat on Tuesday, with investors closely monitoring developments between the United States and Iran, alongside key economic indicators.
In the international market, spot gold hovered around USD 4,656.01 in early trade, showing minimal movement. Despite the steady trend today, the precious metal has recorded a gain of over 3 percent in the past week, supported by safe haven demand.
On the domestic front, gold futures on the Multi Commodity Exchange (MCX) edged slightly higher. Prices settled at ₹1,50,100 per 10 grams, registering a marginal increase of ₹119 or 0.1 percent, indicating continued stability in the Indian bullion market.
Tensions intensified after former US President Donald Trump issued a strong warning to Iran, threatening severe action if a deal to restore movement through a crucial global energy route was not finalised. Iran, however, refused to reopen the Strait of Hormuz immediately, citing concerns over the lack of a permanent ceasefire commitment.
The geopolitical strain has triggered a sharp rally in crude oil prices. WTI crude climbed to around USD 114, while Brent crude hovered near USD 110. Rising oil prices have raised fears of persistent inflation, which could delay potential interest rate cuts and limit further upside in gold.
Market experts suggest that inflationary pressures and interest rate expectations will continue to influence bullion trends. Analysts indicate that prolonged conflict could keep oil prices elevated, further complicating the global economic outlook.
Meanwhile, the strengthening US dollar has also weighed on gold’s momentum. The dollar index remained firm above the 100 mark, making gold more expensive for international buyers and capping gains in the yellow metal.
In India, however, the bullion market witnessed some value buying after recent corrections, helping prices stabilise near record levels. Demand in key cities remained steady, with minor regional variations in rates.
Attention is now shifting to upcoming economic data, including the minutes of the Federal Open Market Committee (FOMC) meeting scheduled for April 8. Additionally, inflation data due later this week is expected to provide clearer signals on the future path of interest rates.
Across major cities such as Delhi, Mumbai, and Chennai, gold prices continued to trade around ₹1.50 lakh per 10 grams for 24-carat purity, reflecting a stable yet cautious market sentiment.
