Gold prices continued to exhibit volatility after reaching a record high at the beginning of 2026, with a marginal decline recorded on April 4, 2026 in line with trends in international markets.
Following a sharp correction from all-time highs earlier in the year, gold prices have been fluctuating in recent sessions, reflecting uncertainty among investors. Movements in gold prices remain linked to global economic conditions, interest rates, the strength of the US dollar, and geopolitical developments. Policies of the United States Federal Reserve and inflation data continue to play a key role in determining price direction.
In the international market, gold prices on COMEX were recorded at $4,702 per ounce. During trading, the metal touched a high of $4,825.90 per ounce and a low of $4,580.40 per ounce. The decline reflects global economic signals and shifts in investor positioning, with the strength of the dollar, potential changes in interest rates, and geopolitical conditions influencing price movements.
In India, trading on the Multi Commodity Exchange (MCX) remained closed on April 3 due to Good Friday, resulting in no significant change in prices. On April 4, a marginal decline was observed after markets reopened. According to the All India Sarafa Association, the price of 24-carat gold in Delhi was approximately ₹1,51,500 per 10 grams, while the June 2026 contract on MCX declined 0.02% to ₹1,49,680 per 10 grams.
Across major cities, gold prices showed minor variations. In Delhi, 22-carat gold was priced at ₹1,38,500 per 10 grams and 24-carat at ₹1,51,080. In Mumbai, prices were ₹1,38,350 and ₹1,50,930 respectively, while Kolkata reported ₹1,38,350 and ₹1,50,930. Chennai recorded ₹1,38,500 for 22-carat and ₹1,51,090 for 24-carat gold. Bengaluru, Hyderabad, and Pune each reported ₹1,38,350 for 22-carat and ₹1,50,930 for 24-carat gold. Ahmedabad recorded ₹1,38,400 and ₹1,50,980, Jaipur ₹1,38,500 and ₹1,51,080, and Lucknow ₹1,38,500 and ₹1,51,080 for 22-carat and 24-carat gold respectively.
Prices in other cities including Noida, Gurugram, Chandigarh, Kanpur, Patna, and Indore remained at similar levels.
Gold price movements continue to be driven by international demand and supply dynamics, the position of the US dollar and global interest rates, geopolitical tensions, and investor demand for safe-haven assets. During periods of heightened global uncertainty, demand for gold increases, while periods of stability may lead to price declines.
