BIG Drop in Gold Rate in India! 24K Falls By Rs 8,200 On June 24 Post Israel-Iran Peace Plan; Check Rates

Gold Rate in India: In a big relief for retail jewellery buyers, gold price today declined for the second consecutive session on Tuesday, as investors rejoiced after Iran and Israel agreed for ceasefire. Gold rates in India declined significantly on Tuesday mirroring the consolidation in international gold rates today.

Falling prices of the precious metal is likely to bring relief among gold jewellery buyers and retail shoppers who were planning to buy gold. Despite a decline in the gold rates today, the price of the precious metal is still close to its all-time high mark.

Gold Rates in India

The price of 24 karat gold rate in India on Tuesday declined by Rs 82 per gram to Rs 9987 per gram, hence the price of the gold rate in India fell by Rs 8200 per 100 gram to Rs 998700. Likewise the price of 22 karat gold in India fell by Rs 75 per gram to Rs 9155 per gram. Similarly, the 18 karat gold rate in India today declined by Rs 61 to Rs 7491 per gram on Tuesday. Gold rates in India have fluctuated significantly over the past few months amid geopolitical uncertainty and stock market volatility.

The price of gold in India and across the world has increased nearly 25% since the beginning of the year 2025.

Silver Rate in India

Following gold rates trend, the price of silver in India also declined on Tuesday. However, the precious metal continued to remain close to an all-time high level. The price of silver in India declined marginally to Rs 109 per gram and fell by Rs 1,000 per gram to Rs 1,09,000 per kilogram.

Gold Rate Outlook

Commenting in the gold price outlook for Tuesday, brokerage Nirmal Bang noted in its report, "Gold prices are expected to correct. One can sell at 98800 with a stop loss of 99100 for the target at 98400-98000." For Silver, the brokerage mentioned, "Silver prices are expected to rise. One can buy at 105500 with a stop loss of 104000 for the target 107000-108500."

While the Israel-Iran agreement has brought a fresh wave of relief among investors, the regional hostilities gave a fresh impetus to gold rally. The geopolitical tensions has pushed gold up almost 30% this year, noted Nirmal Bang in its report. A sudden turnaround in the situation and further escalation in tensions may lead to a sustained rise in energy prices and would spur inflation and make Federal Reserve rate cuts less likely - a negative for gold since it doesn't pay interest.

Gold Rate in Indian Cities

Just like gold rate in India, gold rate in Bangalore, Mumbai, Delhi and other cities declined on Tuesday, June 24. The price of gold in Bangalore declined on Tuesday, with 24 karat gold priced at Rs 9,987 per gram, 22 karat gold priced at Rs 9,155 and 18 karat gold rate priced at Rs 7,491 per gram.

Similarly, the price of 24, 22, and 18 K gold in Mumbai fell and stood at Rs 9,987/ gm, Rs 9,987/ gm, Rs 7491/ g, respectively. Gold rates in Chennai and Hyderabad has also declined, but remained at similar levels.

Meanwhile, Delhi gold rate today remained at a slightly higher level compared to oth Indian cities. The price of 24, 22 and 18 karat gold in Delhi stood at Rs 10,002/ gm, Rs 9170/ gm, and Rs 7503/ gm.

Gold Rate Falls Amid Iran-Israel Tensions

Gold fell to around their two-week low mark of $3,350 per ounce on Tuesday, after the Iran-Israel ceasefire agreement brought cheers among investors. The United States President Donald Trump had confirmed the Iran-Israel peace deal. However, there are reports that of Iran continuing its attack on Israel.

"Gold prices fell below $3,350 per ounce on Tuesday as safe-haven demand weakened following President Trump's announcement of a ceasefire between Israel and Iran. The de-escalation, paired with Iran's minimal retaliation and avoidance of major conflict zones, reassured markets," noted Kedia Advisory in its report.

Analysts have also mentioned that the dovish stance of the Federal Reserve officials Michelle Bowman and Christopher Waller has further weighed on bullion prices.

"Investors are now focusing on Fed Chair Jerome Powell's upcoming Congressional testimony, expecting more clarity on the central bank's interest rate trajectory amid easing geopolitical risks and softening inflation. It appears that everything is currently priced in for gold," the report added.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.