MCX Gold Price Rises After Iran Reopens Strait of Hormuz; Will Gold Rate Today in India Jump on 18 April 2026?

Gold rates in India witnessed a sharp correction on the latest trading session, ending a three-day winning streak that had earlier pushed prices higher by nearly Rs 311 per gram, or Rs 31,100 per 100 grams. The pullback comes just ahead of Akshaya Tritiya on April 19, a period traditionally marked by strong festive buying in the bullion market.

MCX, Gold Rate in India Swings After Iran Reopens Strait of Hormuz; Crude Oil Drops 11%

MCX Gold Rate: In the domestic futures market, gold prices on the Multi Commodity Exchange (MCX) witnessed volatility amid global geopolitical developments. Market sentiment was influenced by easing tensions after Iran announced the reopening of the Strait of Hormuz following weeks of uncertainty.

Gold futures (FUTCOM) for the June 5, 2026 contract (GOLD 05JUN2026) were trading around Rs 1,53,301 per 10 grams in the latest session. The contract moved within a range of Rs 1,52,547 to Rs 1,55,500 during the day.

The previous close was recorded at Rs 1,53,152 per 10 grams, while the current movement showed an increase of around Rs 1,398, or 0.91%,

The move triggered a sharp reaction across commodities, with crude oil witnessing a steep decline of over 11%, while gold and silver saw mixed reactions as investors reassessed risk sentiment in global markets.

Gold Rate in India: Latest 22K, 24K & 18K Gold Prices Per Gram

24 Karat Gold Rate Today in India

In the latest trading session, 24 Karat (24K) gold slipped to Rs 15,420 per gram, falling Rs 137 compared to the previous session. On a higher scale, 8 grams of 24K gold were priced at Rs 1,23,360, down Rs 1,096, while 10 grams stood at Rs 1,54,200, a decline of Rs 1,370. For bulk buyers, 100 grams of 24K gold dropped to Rs 15,42,000, lower by Rs 13,700.

22 Karat Gold Rate Today in India

Similarly, 22 Karat (22K) gold eased to Rs 14,135 per gram, down Rs 125 from the previous day. The price for 8 grams stood at Rs 1,13,080, while 10 grams were priced at Rs 1,41,350. On a larger scale, 100 grams of 22K gold fell to Rs 14,13,500, reflecting a decline of Rs 12,500.

18 Karat Gold Rate Today in India

Meanwhile, 18 Karat (18K) gold also saw a softening trend. The rate stood at Rs 11,565 per gram, down Rs 103. For 8 grams, the price was Rs 92,520, while 10 grams were priced at Rs 1,15,650. On a bulk basis, 100 grams of 18K gold eased to Rs 11,56,500, down Rs 10,300.

Spot Gold Price Trends Rise After Israel and Lebanon Ceasefire

In the international market, spot gold prices extended gains, rising more than 1% to trade above $4,850 per ounce. The increase came after reports confirmed that the Strait of Hormuz would remain open for commercial shipping during a temporary ceasefire arrangement between Israel and Lebanon, easing immediate supply concerns and influencing broader commodity flows.

Gold Rate Outlook on Akshaya Tritiya: Experts Maintain 'Buy on Dips' View

Despite short-term volatility, analysts remain cautiously optimistic on gold's medium- to long-term trajectory. "gold may continue to trade within a broad range in the near term as markets adjust to evolving global cues. While some consolidation is likely after the recent rally, the medium- to long-term outlook remains constructive," said Mr. Navneet Damani, Head of Research - Commodities and Manav Modi, Analyst Commodities, Motilal Oswal Financial Services.

"Factors such as geopolitical risks, slowing global growth, and the possibility of monetary easing later in the year could support prices, while persistent inflation, a stronger dollar, and weak physical demand may act as near-term headwinds. The report maintains a clear "buy on dips" stance for investors with a medium- to long-term horizon," the experts added.

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