Gold and Silver prices today on 21 April: Gold rate declined on the MCX in early deals on Tuesday. This was due to profit-taking amid an uptick in the US dollar, while persisting uncertainty about the proposed US-Iran talks keeps crude oil prices elevated, weighing on gold prices.
MCX gold June futures were 0.07% down at ₹1,53,829 per 10 grams, while MCX silver May contracts were 0.69% down at ₹2,50,801 per kg at 9:10 am.
Gold and silver rates have been highly volatile of late, primarily due to the rise in the US dollar driven by a spike in crude oil prices. When oil prices rise, demand for the dollar rises, as oil is largely traded in US dollars, driving the greenback higher, weighing on gold prices. Even after Brent Crude oil prices eased slightly, they traded near the $95 a barrel.
Risk of higher inflation looms
Higher crude prices raise inflationary risks with increased transportation and production costs. These high prices dim the prospects of interest rate cuts, making yield-bearing assets, such as fixed deposits and bonds, more attractive, weighing on non-yield-bearing gold prices. The focus is on potential talks between the US and Iran, as the two-week ceasefire is set to expire Wednesday.
Gold has declined roughly 9% and silver has lost around 14% since the beginning of the US-Iran war in late February. All retail buyers should note that jewellers often include making charges, taxes, and GST, which can raise the final cost of gold.
Check the latest gold prices across major Indian cities as of 21 April:
Gold Prices in Mumbai — 21 April
24 karat gold rate in Mumbai — ₹153,890/10 gm.
22 karat gold rate in Mumbai — ₹141,066/10 gm.
Silver 999 Fine rate in Mumbai — ₹251,670/1 kg.
Gold Prices in New Delhi — 21 April
24 karat gold rate in Delhi — ₹153,620/10 gm.
22 karat gold rate in Delhi — ₹140,818/10 gm.
Silver 999 Fine rate in Delhi— ₹251,240/1 kg.
Gold Prices in Ahmedabad— 21 April
24 karat gold rate in Ahmedabad— ₹154,120/10 gm.
22 karat gold rate in Ahmedabad— ₹141,277/10 gm.
Silver 999 Fine rate in Ahmedabad— ₹251,930/1 kg.
Gold Prices in Bengaluru— 21 April
24 karat gold rate in Bengaluru— ₹154,040/10 gm.
22 karat gold rate in Bengaluru— ₹141,203/10 gm.
Silver 999 Fine rate in Bengaluru— ₹251,800/1 kg.
Gold Prices in Kolkata — 21 April
24 karat gold rate in Kolkata — ₹153,710/10 gm.
22 karat gold rate in Kolkata — ₹140,901/10 gm.
Silver 999 Fine rate in Kolkata — ₹251,260/1 kg.
Gold Prices in Hyderabad — 21 April
24 karat gold rate in Hyderabad — ₹154,140/10 gm.
22 karat gold rate in Hyderabad — ₹141,295/10 gm.
Silver 999 Fine rate in Hyderabad — ₹252,020/1 kg.
Gold Prices in Chennai — 21 April
24 karat gold rate in Chennai — ₹154,340/10 gm.
22 karat gold rate in Chennai — ₹141,478/10 gm.
Silver 999 Fine rate in Chennai — ₹252,350/1 kg.
What is driving the volatility in the prices of Gold and Silver?
According to reports, US President Donald Trump hinted on 20 April that the ceasefire between Washington and Tehran may not be extended. Meanwhile, Axios reported that US Vice President JD Vance may depart for Islamabad by 21 April morning to resume negotiations with Iran. Reuters reported that Iran is considering attending peace talks with the US in Pakistan.
Asia-Pacific markets opened mixed on Tuesday amid hopes for a resolution to the Middle East conflict, even as tensions between Iran and the U.S. continue to simmer.
US stock futures were little changed on Monday night after the Nasdaq Composite snapped a 13-day win streak during the regular session. S&P 500 futures and Nasdaq 100 futures added 0.1% and 0.2%, respectively. Futures tied to the Dow Jones Industrial Average rose by 70 points, or 0.2%.
