Sona Hua Sasta! Gold Price Today in India Falls Below Rs 1.53 Lakh, Silver Dips; Will Iran-US War Drag Prices?

Gold Price Today in India: Prices of 24 karat, 22 karat, and 18 karat gold in India reversed their upward trend and declined on Monday, April 13. Tracking the fall in gold prices, silver rates in India also moved lower, as fresh developments surrounding the Iran-US war pushed crude oil prices higher and kept investors on edge.

The recent decline in gold rate in India today has come after the US and Iran peace talks failed to conclude on Sunday. Following the peace talks' failure, US President Donald Trump threatened to resume attacks on Iran, and he has also announced the Strait of Hormuz blockade from Monday.

Back in India, this development could turn into a blessing in disguise for gold jewellery buyers, as rising crude oil prices amid the Iran-US war may exert downward pressure on gold rates. However, any weakening of the Indian rupee could offset this benefit and potentially push gold prices higher in the domestic market.

Gold Rate in India Today

The price of 24 karat gold in India fell by Rs 38 per gram to Rs 15,246 per gram on Monday, April 13. Likewise, the price of 22 karat gold in India dipped by Rs 35 per gram to Rs 13,975 per gram. The rate of 18 karat gold in India declined by Rs 29 per gram to Rs 11,434 per gram on Monday, April 13.

Silver Rate in India

Silver price today in India also declined as part of a weaker sentiment prevailing across the bullion market. Silver rate in India fell by Rs 5 per gram to Rs 255 per gram on Monday, April 13. Per kilogram of silver in India became cheaper by Rs 5000 to Rs 2,55,000.

International Gold Price Today

The international gold rate on Monday, fell by nearly 2% to $ 4,700 per ounce, as per Trading Economics. The decline came as the US plans to execute the Strait of Hormuz blockade. If this happens, it is likely to push crude oil price beyond $130 per barrel mark and may even impact gold prices.

Crude Oil Price Today

Crude oil price rallied on Monday after failed Iran-US peace talks and US President Donald Trump's warning to block Strait of Hormuz sparked concerns of prolonged energy supply shock. WTI crude futures rallied nearly 9.3% on Monday, April 13, to surge above $105 per barrel mark.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.