Gold prices plunge by ₹2,000 as US-Iran peace talks gain momentum

The national price of 24-karat gold fell by ₹2,190 per 10 grams on Wednesday, declining to ₹1,44,330 from ₹1,46,520 recorded on Tuesday. This marks the third consecutive day of decline in gold prices, amid progress reported in the US-Iran peace talks in recent days, as per reports.

The price of 22-karat gold (91.6% purity) declined to ₹1,32,300 per 10 grams, while 18-karat gold (75% purity) fell to ₹1,08,250 per 10 grams. 

The decline across all three categories followed the overall easing trend in global gold prices after the US granted Iran a 60-day sanctions waiver and tanker movement through the Strait of Hormuz gradually resumed.

Among major Indian cities, Chennai continued to record the highest gold prices in the country.

The price of 10 grams of 24-karat gold stood at ₹1,47,920, while 22-karat gold was priced at ₹1,35,590 and 18-karat gold at ₹1,13,390. 

The city’s 24-karat gold rate remained ₹3,590 higher than the national benchmark, reflecting higher local levies in Tamil Nadu.

Meanwhile the price of 10 grams of 22-karat gold in Ahmedabad reached ₹1,32,350 whereas the 24-karat price stood at ₹1,44,380.