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Gold Prices Dip Amid Iran Tensions: What It Means
4 May
Summary
- 24-carat gold futures declined by Rs 602.00 on May 4, 2026.
- Retail prices for 24-carat gold are around Rs 1,51,230 per 10 grams.
- IBJA reported a morning rate of Rs 1,50,263 per 10 grams.
On May 4, 2026, gold prices in India opened with a slight decrease, interrupting a recent period of market optimism. Futures contracts for 24-carat gold on the MCX saw a drop of Rs 602.00, or 0.40 percent, settling at Rs 1,50,750 per 10 grams in early trading. This followed a previous close of Rs 1,51,352.
Despite this minor decline, gold prices remain notably elevated when considered over a broader timeframe. Retail prices for 24-carat gold are currently around Rs 1,51,230 for every 10 grams, according to GoodReturns. The Indian Bullion and Jewelers Association (IBJA) recorded an earlier morning rate of Rs 1,50,263 per 10 grams.
Further differentiating the market rates, the All India Sarafa Association, which accounts for applicable taxes, reported a higher figure. Their assessment placed the rate at Rs 1,54,800 per 10 grams. The market continues to experience volatility, influenced by geopolitical factors.
