Gold Prices Continue to Fall as Israel, Iran Agree on Ceasefire

Following a series of attacks between Israel and Iran for nearly two weeks, the two countries finally sat on the peace table and agreed to the ceasefire initiative from the Donald Trump-led United States of America (USA) administration. While that served as a bit of relief for people in the Middle East, gold prices fell across spot and futures markets in India on June 24. 2025. Spot gold price today has also fallen. Lets check out the gold price report.

Steepest Correction Witnessed in Gold Spot Price

The 24 Karat Gold per gram price across spot markets in India continued to fall on June 24, 2025. The per gram price, which fell by INR 82 during the morning session, saw a further decline of INR 65 till the evening session. The overall decline till that point was INR 147, arguably the steepest correction in gold spot price, so far, in June 2025. The spot gold price fell to INR 9,922 per gram in the 24 Karat category. Following the decline pattern, the 22 Karat gold per gram price also slumped by INR 135 to INR 9,095.

So, What‘s the Spot Gold Price Today?

The 24 Karat spot gold price today (per gram) started by witnessing a decline of INR 27 to INR 9,895. The gold price per 10 grams thus declined by INR 270 to INR 98,950. Nearly the same thing is going on in the 22 Karat category. The per gold price declined by INR 25 to INR 9.070. As a result, the per 10-gram gold price in India’s spot markets stands at INR 90,700.

How Did Gold Futures React Post Ceasefire Agreement Between Israel and Iran?

As soon as the ceasefire agreement was announced by Donald Trump, MCX gold August futures reached a low of INR 96,422 per 10 grams, declining by nearly INR 3,000. MCX silver price also fell by INR 760 to INR 1,06,011 per kilogram. The MCX gold price today inched up to INR 97,185 per 10 grams during the early trading hours.

Changing Geopolitical Equations in the Middle East Lead to Gold Price Volatility in MCX

On June 23, 2025, gold prices firmed up following the US-led attack on Iranian nuclear sites and a follow-up response from Iran in attacking the US air base in Qatar. Gold futures closed higher at INR 99,388 per 10 grams, whereas silver ended the day with INR 1,06,759 per kilogram. Following the ceasefire agreement, gold prices remained volatile. On June 24, 2025, the MCX gold price fell but showed an upward movement today. Experts think the gold price will remain volatile for this week amid a volatile dollar index, geopolitical tensions, and the US economic data.