Gold Rate Forecast for April 27–May 2, 2026: After Sharp Drop, Will Prices Rise or Stay Under Pressure? Gold prices in India experienced a significant correction during the week of April 20–23, 2026, with 24K gold declining by approximately Rs 22,300 per 100 grams. Despite this sharp drop, the yellow metal stabilized in the final trading session of the week, with 24K gold priced at Rs 15,404 per gram, 22K gold at Rs 14,120 per gram, and 18K gold at Rs 11,553 per gram. The decline was attributed to shifting global sentiment, including cautious optimism around potential progress in US-Iran peace talks and rising crude oil prices, which reignited inflation concerns. The correction in gold prices followed a volatile period, with broader market cues remaining uncertain. On April 26, 2026, the Multi Commodity Exchange (MCX) in India recorded a weekly loss for gold, with prices falling nearly Rs 400 between April 20 and April 24. The exchange closed at Rs 1,52,799 per 10 grams, reflecting a daily gain of Rs 1,038 or 0.7%, but the weekly performance remained negative at Rs 359 or 0.23%. Analysts noted that while short-term buying emerged at lower levels, overall sentiment remained cautious. Internationally, spot gold showed mild resilience, rising 0.38% to USD 4,710.30 per ounce, while U.S. gold futures edged up 0.2% to USD 4,714.40 per ounce. However, global gold prices were still down more than 2% for the week, influenced by macroeconomic factors such as a stronger U.S. dollar and rising bond yields. Higher crude oil prices continued to pose a key risk, as they could push inflation higher and sustain expectations of prolonged elevated interest rates, further supporting the dollar and bond yields—both of which act as headwinds for gold. Analysts highlighted the interconnectedness of market forces.#gold_prices #ubs #multi_commodity_exchange #us_iran_peace_talks #rajeev_sharan
