Gold prices witnessed a minor increase on March 26, 2026, despite the Indian domestic commodities market being closed for the first half of the day due to the celebrations of Ram Navami. Meanwhile, the US-Iran war grows, the tension in the Middle East amid volatile peace talks.
The US is pursuing a diplomatic route with a 15-point plan. Meanwhile, Iran is negotiating wartime compensations and cementing its dominance over the Strait of Hormuz.
Gold April futures in the international market stand at $4,520 at the time of writing on Thursday, 26 March 2026, while the Gold rate in the domestic market on Multi-Commodity Exchange closed at Rs. 1,44,097 on Wednesday, while silver futures closed at Rs. 2,34,834.
Despite Ram Navami celebrations keeping the automotive market closed for the first half, the 24-carat Gold rate in India has increased by Rs. 22, reaching Rs. 1,46,890 per 10 grams, while the 22-carat Gold rate has surged by Rs. 20, reaching Rs. 1,34,650.
In Indian cities, the 24-carat Gold rate in Mumbai stood at Rs. 1,46,890, similar to those in Kolkata, Bangalore, Hyderabad, Kerala, and Pune.
However, the 24-carat Gold price in Delhi stood at Rs. 1,47,040, slightly lower than in Chennai at Rs. 1,49,130. The cheapest Gold price in India in the major cities is in Vadodara and Ahmedabad at Rs. 1,46,940.
The slight rise in Gold price is correlated to the peace talks that are going on between the US and Iran, where the two countries have traded their terms to strike a compromise.
Nevertheless, the difference in their situations, which maintains the possibility of a minimal ceasefire and places pressure on the physical provision of the oil in the Strait of Hormuz, poses a challenge. The peace talks come as a ray of hope since global markets are stunned, waiting for an energy crisis.
The US gold price has increased by 0.29%. compared to yesterday, 25 March 2026. The slight movement of the yellow metal prices is correlated with the increased price of oil over $91, which implies that the market has become more volatile and risky with the ongoing peace discussion and the high tensions.
Silver is trading at $71.58 in the spot market, and platinum and palladium are trading at $1927 and $1403, respectively, in the spot market.
Also Read: Why Indian Stock Market, Gold and Silver Prices Are Moving in the Same Direction
Internationally, the price of gold is nearing $4,600, extending the 1.5% rebound from the previous session.
Immediate support is seen at the prior day’s opening near $4,380, followed by the low registered on Monday, 23 March 2026, at $4,099.
On the upside, the recovery may encounter resistance near Sunday’s high on March 22, 2026, at $4,736, with the $5,000 psychological level acting as the next barrier.