Gold rate today, 9 April 2026: Following the weak global sentiments around the precious metals, the MCX gold rate today opened with a downside gap at ₹1,50,647 per 10 gm. However, the precious yellow metal witnessed value buying at lower levels, pared its early morning losses, and rose above ₹1,51,000 within a few minutes of the Opening Bell. However, the gold price in India is still down by around 0.50%.
According to experts, the gold rate today is under pressure due to the rise in crude oil prices after Israel’s attack on Lebanon. This has jeopardised the hopes for a ceasefire in the US-Iran war and the opening of the Strait of Hormuz. Rising oil prices have renewed inflation fears and a hawkish US Fed in the near-term.
Gold rate today: Why is the yellow metal under pressure?
Speaking on the reason for a dip in the gold rate today, Anuj Gupta, a SEBI-registered market expert, said that the major reason for the slide in the gold price today is escalation in the US-Iran conflict after Israel’s attack on Lebanon. This has dented hopes for a ceasefire in the US-Iran war and the reopening of the Strait of Hormuz.
“It doesn’t seem like gold is looking to do much at this moment. I think there’s still a lot of speculation on what’s going to happen after the ceasefire,” said GoldSilver Central Managing Director Brian Lan.
Lan said he expected gold to consolidate between $4,607 and $4,860 in the near term.
“The COMEX gold rate today is in the $4,550 to $4,800 per ounce range, while the MCX gold rate today is in the ₹1,35,000 to ₹1,55,000 per 10 gm range,” said Anuj Gupta.
US-Iran war update
On Wednesday, Israel pounded Lebanon with its heaviest strikes yet, killing hundreds of people and drawing a threat of retaliation from Iran.
Oil prices rose on Thursday amid concerns that supply from the key Middle East producing region may not fully resume, as doubts persist that the two-week ceasefire between the U.S. and Iran will hold.
(This is a developing story. Please refresh for more updates)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.