Gold Prices in India Fall by ₹1,370 as Strong Dollar and Geopolitical Tensions Weigh

On 20 April 2026, the price of 24K gold at ₹153,260 per 10 grams, reflecting a loss of ₹1,370 compared to its previous close. Meanwhile, 22K gold is at ₹140,488 per 10 grams. Gold prices in India are largely influenced by international spot gold rates, US dollar fluctuations, and import duties on Gold among other things. Gold prices in India continue to remain higher than in Dubai. On 20 April 2026 the price of 24K gold in India is at ₹153,260 per 10 grams, while in Dubai it is ₹145,817, reflecting a difference of ₹7,443 or 5.10%. Similarly, 22K and 18K gold prices in India were also about 5.10% costlier compared to the price of gold in Dubai , not accounting for fees, duties, and taxes. Gold prices are trending sideways over a firm dollar and renewed geopolitical tensions between US and Iran. A strong dollar makes precious metals like gold more expensive for other currency holders, thereby denting demand. Investor sentiment for the yellow metal also weighed as oil prices pushed higher over the tensions in the crucial trade route- Strait of Hormuz . Reports emerged that the US Navy has seized vessels in the Gulf of Oman, while Tehran targeted ships and reasserted control over the Hormuz route. ALSO READ Akshaya Tritiya 2026: Should you buy or wait for correction after gold prices jump over 50% in a year? The rise in oil prices has again stoked inflationary concerns, and reinforced expectations of tighter monetary policy by central banks globally. Gold has fallen by nearly 10% since the start of the West Asia conflict which began at the end of February. Analysts expect gold prices to remain range-bound in the near term over high oil prices and inflationary pressures as markets continue to monitor the developments in the West Asia conflict. Escalations in the Middle East tensions are likely to weigh on investor sentiment for gold, reducing its appeal in comparison to interest-yielding assets. “MCX Gold JUNE futures may decline to Rs. 152,000/10g as trend looks weak in the international markets too,” said Jigar Trivedi, Senior Research Analyst at Indusind Securities Retail investors are advised to track not just domestic rates but also international trends before making buying decisions. ALSO READ Akshay Tritiya 2026: Will high prices and volatility dampen gold buying this festive season?