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Gold and silver prices rallied sharply on the first day of the ongoing Israel-Iran war, boosting safe-haven demand.
Gold Prices Today In India on June 23, 2025.
Gold Prices In India Today, June 23: Gold prices on Monday remained consolidated after touching a record high following US’s strikes on Iran’s nuclear sites amid the ongoing tensions with Israel. Prices are now hovering in the consolidated range of Rs 1,00,800-1,01,000.
In Mumbai, the price of gold stood at Rs 92,300 per 10 grams for 22-carat and Rs 1,00,690 per 10 grams for 24-carat.
Silver was also trading down at Rs 1,09,900 per kg in the city.
These spot prices do not include making charges and 3% GST.
“Gold prices saw an initial spike following the U.S. strikes on Iran over the weekend but failed to hold those gains, reinforcing the view that the bullion rally may have peaked for now. The yellow metal is probably looking for retaliatory action from Iran before it surges to a new high,” argues Aksha Kamboj, vice President, India Bullion and Jewellers Association and Executive Chairperson, Aspect Global Ventures.
She noted concerns about rising inflation driven by higher oil prices, the prospect of fewer Fed rate cuts in 2025, and more attractive safe-haven alternatives are all weighing on gold despite growing tensions in West Asia.
On June 13, Israel launched a large-scale attack across Iran, targeting key nuclear and military facilities under “Operation Rising Lion.” The strike came a day after the Israel Defense Forces (IDF) issued a warning urging residents of Tehran to evacuate. Israeli Prime Minister Benjamin Netanyahu said the operation aimed to “roll back the Iranian threat to Israel’s very survival,” following weeks of rising tensions. This escalation was triggered by Iran’s earlier missile and drone attack, which itself was a retaliation for an Israeli strike on its consulate in Damascus.
What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities?
| City | 22K Gold (per 10gm) | 24K Gold (per 10gm) |
|---|---|---|
| Delhi | Rs 92,490 | Rs 1,00,890 |
| Jaipur | Rs 92,490 | Rs 1,00,890 |
| Ahmedabad | Rs 92,390 | Rs 1,00,790 |
| Patna | Rs 92,390 | Rs 1,00,790 |
| Mumbai | Rs 92,300 | Rs 1,00,690 |
| Hyderabad | Rs 92,300 | Rs 1,00,690 |
| Chennai | Rs 92,300 | Rs 1,00,690 |
| Bengaluru | Rs 92,300 | Rs 1,00,690 |
| Kolkata | Rs 92,300 | Rs 1,00,690 |
How Will the Iran-Israel Conflict Impact Gold Prices In India?
Gold and silver prices rallied sharply on the first day of the ongoing Israel-Iran war, boosting safe-haven demand. However, the prices are hovering around the same level since then.
Also Read: Gold May See 10% Correction In 2 Months And 30% Fall In A Year, Say Experts
Experts say the gold prices are likely to have peaked out and might see a correction of 10-12 per cent in the next two months.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.
In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.
With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic treds.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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