Gold and silver price today, 23 April: Check live rates of 24K, 22K gold and 999 silver in Delhi, Mumbai, other cities

Gold and silver prices on 23 April: Gold rate corrected by nearly 1% while that of silver lost more than 2% in early deals on the MCX on Thursday, 23 April, due to profit booking due to geopolitical stress after the US dollar climbed amid a rebound in crude oil prices, following reports of fresh tensions between the US and Iran.

MCX gold June contracts were down about 0.50% at ₹1,51,947 per 10 grams, while MCX silver May contracts were down by nearly 2% at ₹2,43,856 per kg around 9:10 am.

The dollar index climbed by 0.15%, weighing on gold prices, after Brent crude jumped by 2% to trade above $103 a barrel.

Whereas investors across the globe are closely watching developments in the Middle East and the unfolding US-Israel war against Iran, which could influence the yellow metal’s next move.

Rising oil prices add to inflation pressure

Oil prices remained elevated, with Brent crude futures ending the previous session above the USD 100 mark, after Iran said it will not reopen the Strait of Hormuz as long as the US blockade remains.

US President Donald Trump responded, saying Iran wanted the Strait of Hormuz open “so they can make $500 Million Dollars a day,” which he said the Gulf nation would risk losing if it remained closed.

“Iran is collapsing financially! They want the Strait of Hormuz opened immediately,” he wrote on Truth Social, adding that the Islamic Republic was “starving for cash.”

It is important to factor in that higher oil prices tend to fuel inflation, which in turn reduces the chances of a rate cut, creating an unfavourable environment for gold.

With these important geopolitical developments in mind, here are the prices of Gold and silver by city. Do remember that jewellers may add making charges, taxes, and GST to the bill, which could hike the final price of the item. Check the full list here for gold and silver prices in your city today, 23 April:

Gold and Silver Prices in Mumbai — 23 April

24 karat gold rate in Mumbai — ₹152,240/10 gm

22 karat gold rate in Mumbai — ₹139,553/10 gm

Silver 999 Fine rate in Mumbai — ₹245,090/1 kg

Gold and Silver Prices in New Delhi — 23 April

24 karat gold rate in New Delhi — ₹151,980/10 gm

22 karat gold rate in New Delhi — ₹139,315/10 gm

Silver 999 Fine rate in New Delhi — ₹244,670/1 kg

Gold and Silver Prices in Hyderabad— 23 April

24 karat gold rate in Hyderabad — ₹152,450/10 gm

22 karat gold rate in Hyderabad — ₹139,746/10 gm

Silver 999 Fine rate in Hyderabad — ₹245,470/1 kg

Gold and Silver prices in Kolkata — 23 April

24 karat gold rate in Kolkata — ₹152,010/10 gm

22 karat gold rate in Kolkata— ₹139,343/10 gm

Silver 999 Fine rate in Kolkata — ₹244,760/1 kg

Gold and silver prices in Bengaluru — 23 April

24 karat gold rate in Bengaluru — ₹152,330/10 gm

22 karat gold rate in Bengaluru — ₹139,636/10 gm

Silver 999 Fine rate in Bengaluru — ₹245,280/1 kg

Gold and Silver Prices in Chennai — 23 April

24 karat gold rate in Chennai — ₹152,650/10 gm

22 karat gold rate in Chennai — ₹139,929/10 gm

Silver 999 Fine rate in Chennai — ₹245,800/1 kg

Gold and Silver Prices in Ahmedabad — 23 April

24 karat gold rate in Ahmedabad — ₹152,360/10 gm

22 karat gold rate in Ahmedabad — ₹139,663/10 gm

Silver 999 Fine rate in Ahmedabad — ₹245,320/1 kg

What will drive the prices of Gold and Silver going ahead?

Japan and South Korea stocks hit record highs Thursday, trailing overnight gains on Wall Street after President Donald Trump extended a ceasefire with Iran, boosting investor sentiment alongside strong corporate earnings.

Trump extended a two-week US ceasefire on Tuesday, saying it was warranted due to Tehran’s “seriously fractured” government.

The global economic outlook, hence, remains volatile. The prices of Gold and Silver in international markets over the coming weeks will be determined by how this war unfolds and whether the two nations reach a peace deal.