Major Drop in Gold Prices Today, June 23: Check Latest 22K, 24K & 18K Gold Rates in India Amid Iran-Israel War

Gold Price Today: On Monday, June 23, the gold market in India has experienced a slight downward movement in prices across all purity levels. The ongoing geopolitical tensions, especially the conflict between Israel and Iran and the prolonged Russia-Ukraine war, continue to impact global markets. These conflicts have disrupted energy supplies and added to inflationary pressures, leading investors to turn to gold as a safe-haven asset.

Check out the latest rates for 22K, 24K, and 18K gold in India as well as prices in other major countries affected by these global events.

24 Karat Gold Rate Today in India

The rate of 24 Karat gold, known for its maximum purity, stands at Rs 10,069 per gram, showing a decrease of Rs 6 from yesterday's Rs 10,075. For bulk purchases, 8 grams of 24K gold is priced at Rs 80,552, down by Rs 48, while 10 grams costs Rs 1,00,690, a reduction of Rs 60. A larger quantity of 100 grams is available at Rs 10,06,900, which is Rs 600 less than the previous day.

22 Karat Gold Rate Today in India

Turning to 22 Karat gold, which is widely used in making traditional and bridal jewellery, the price today is Rs 9,230 per gram, slightly lower by Rs 5 compared to Sunday's Rs 9,235. For 8 grams, the rate is Rs 73,840, down by Rs 40 on Monday. Ten grams of 22K gold now costs Rs 92,300, a decline of Rs 50, while the price for 100 grams has dipped to Rs 9,23,000, a decrease of Rs 500 from the previous rate.

18 Karat Gold Rate Today in India

In the case of 18-Karat (18K) gold, commonly used for modern jewellery and pieces featuring intricate designs or gemstones, the price per gram is Rs 7,552, marking a small drop of Rs 4 from yesterday's Rs 7,556. For 8 grams, the price is Rs 60,416, which is Rs 32 lower. The cost of 10 grams is now Rs 75,520, and 100 grams is available at Rs 7,55,200, both reflecting a reduction of Rs 40 and Rs 400 respectively.

Gold Price in Middle East and Other Major Countries

Amid intensifying geopolitical tensions and ongoing global instability, gold continues to assert its role as a reliable safe-haven asset. While the Israel-Iran conflict dominates headlines, the Russia-Ukraine war remains a persistent source of economic disruption.

Iran-Israel War: Gold Rate in Iran Today

The price of 24 Karat gold per gram in Iran is currently quoted at approximately 4,547,082 Iranian Rials (IRR) on the bid side, with asking prices ranging between 4,405,667 and 4,890,841 IRR.

This represents a drop of IRR 22,627 or roughly -0.50% since the previous session. For 22 Karat gold, the rate is about 4,165,127 IRR per gram, with asking prices fluctuating between 4,035,591 and 4,480,010 IRR, reflecting a similar decline of IRR 20,726.

Iran-Israel Tension: Gold Rate in Israel Today

As of the latest available data from GoldPrice, the price of gold in Israel has seen a notable decline, reflecting ongoing geopolitical volatility in the region. Israel's current gold holdings stand at 11,637.61 units, marking a drop of 121.60 units, or 1.03%.

Gold Price in Oman Today

As of Monday, June 23, the price of 24 Karat gold per gram in Oman is OMR 42.60, which is approximately Rs 9,594 in Indian Rupees. Oman continues to be a stable and consistent market for gold, with a strong cultural affinity toward gold jewellery and investment, especially during festive seasons and weddings.

Gold Rate in Qatar Today

In Qatar, the price of 24K gold stands at QAR 406 per gram, converting to around Rs 9,658.

Saudi Arabia Gold Rate Today

In Saudi Arabia, 24K gold is priced at SAR 416 per gram, equivalent to about Rs 9,613.

UAE Gold Rate Today: Dubai Gold Price

In the United Arab Emirates (UAE), the rate of 24 Karat gold per gram is AED 406, translating to roughly Rs 9,587. The UAE, particularly Dubai, is globally renowned for its competitive pricing and tax-free gold shopping experience. On June 23, the price of 24 Karat gold per gram in Dubai is AED 376, which is approximately Rs 8,879 in Indian Rupees.

Singapore Gold Rate, June 23, 2025

Moving east, Singapore reports one of the highest rates today, with 24K gold priced at SGD 148.70 per gram, which equals approximately Rs 9,992. Known for its stringent purity standards and its position as a key Asian financial center, Singapore is considered a premium market for high-quality gold.

"While the Israel-Iran war has dominated headlines, the ongoing conflict between Ukraine and Russia continues to exert pressure on global markets. The prolonged war has disrupted energy supplies, strained European economies, and contributed to inflationary pressures worldwide. These factors have reinforced the bullish outlook for gold. Investors are increasingly wary of prolonged instability and its implications for global growth, prompting them to diversify away from riskier assets and into gold," stated Head of Commodities, Geojit Investments.

Carsten Menke, an analyst at Julius Baer said, "We still see sound demand from safe-haven seekers and central banks, which should provide sound support to gold prices on current levels", as per a Reuters report.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.