Gold prices fell by ₹462 to ₹1.51 lakh per 10 grams in futures trading on Friday, influenced by weak global trends marked by a stronger US dollar and rising crude oil rates.
On the Multi Commodity Exchange, the yellow metal for June delivery declined ₹462, or 0.3 percent, to ₹1,51,299 per 10 grams with a business turnover of 8,310 lots. Analysts attribute the downward pressure on precious metals to the firm dollar, elevated energy prices, and rising inflation concerns.
Gaurav Garg, Research Analyst at Lemonn Markets Desk, noted that the decline in gold prices was exacerbated by a stronger US dollar and increasing crude oil prices, which have intensified inflation fears among investors. He stated that oil prices remained around $95.84 per barrel due to geopolitical tensions, particularly in the Strait of Hormuz, which has heightened market uncertainty.
Internationally, Comex gold futures for June delivery dropped $33.54, or nearly 1 percent, to $4,690.46 per ounce in New York. Brokerage firm Kotak Securities indicated that gold hovered around $4,680 per ounce, approaching nearly a 3 percent weekly loss as ongoing US-Iran tensions and persistent blockade in the Strait of Hormuz drove oil prices higher and increased inflation anxieties.
Analysts observed that friction between Washington and Tehran remains, particularly due to the US Navy’s blockade of Iranian ports. Iran’s Foreign Minister, Abbas Araghchi, described the blockade as an act of war, while chief negotiator Mohammad Bagher Ghalibaf stated that a complete ceasefire would only make sense if maritime restrictions were lifted.
US President Donald Trump has instructed the Navy to take action against any vessels laying mines in this critical shipping lane, further dampening hopes for de-escalation.
These developments have bolstered the strength of the US dollar, exerting additional pressure on gold prices in global markets. Market participants are now anticipating the final consumer sentiment data from the University of Michigan for insights regarding the Federal Reserve’s monetary policy direction and the near-term outlook for bullion prices, according to a note from Kotak Securities.
Published on April 24, 2026.
