Gold prices rebounded today on MCX, lifted by escalating US-Iran tensions, despite global inflation concerns. Indian gold imports hit a near 30-year low due to tax changes.
| Purity | Per Gram | Per 10g | Change |
|---|---|---|---|
| 24K Gold | ₹15,066INR | ₹1,50,660 | ↑ ₹22 |
| 22K Gold | ₹13,810 | ₹1,38,100 | ↑ ₹20 |
| 18K Gold | ₹11,300 | ₹1,13,000 | — |
Source: GoldMeter.in • Historical data for reference only
The Indian gold market experienced a notable rebound on April 30, 2026, with MCX gold prices climbing from a one-month low. This upward movement was primarily driven by escalating tensions between the US and Iran, which typically bolster gold's appeal as a safe-haven asset. For 24-carat gold, prices increased by ₹220 today, with domestic rates holding near ₹1.51 lakh per 10 grams across major Indian cities and jewellers like Malabar Gold & Diamonds, Tanishq, and Joyalukkas. This surge follows a period where gold had slipped for three consecutive days globally, though today's domestic market showed strong recovery.
While global gold prices eased slightly due to inflation concerns, the domestic market saw MCX gold advance amid a rise in oil prices, further highlighting the impact of geopolitical events. Looking at overall trends, Indian gold imports in April fell to a near 30-year low, a significant drop attributed to new tax demands impacting shipments. Despite this supply-side constraint, overall Indian gold demand in the first quarter of the year was up by 10%, showing resilience even amidst price surges. This demand, however, is undergoing a radical shift, with investors increasingly ditching traditional jewellery in favour of gold ETFs and physical bars as prices soar, a trend confirmed by the World Gold Council.
This evolving landscape for gold in India is further supported by new financial innovations. Dhan, for instance, has introduced 'Gold Vault', a service enabling investors to buy physical bullion directly via MCX, catering to the growing preference for investment-grade gold. For investors and jewellery shoppers, today's price increase and the underlying geopolitical drivers suggest continued volatility. While some predictions hint at potential future dips to ₹1.40 lakh per 10 grams, the immediate outlook remains influenced by global stability. Keeping an eye on international developments and domestic policy changes will be crucial for making informed decisions regarding gold purchases, whether for investment or personal adornment.