Gold and Silver Prices in Major Indian Cities on 17 April: Latest Rates for 24 Kt, 22 Kt Gold and 999 Silver

Gold and Silver Prices Remain Volatile Amid US-Iran Peace Deal Hopes

The gold and silver prices on the Multi Commodity Exchange (MCX) were in flux on Friday morning, 17 April, as emerging signs of a potential US-Iran peace deal sparked both volatility and optimism in the market. Despite the uncertainty, a weaker dollar and a decline in crude oil prices supported the gold prices, leading to a moderate drop in MCX gold June futures.

As of 9:15 am on 17 April, MCX gold June futures were 0.04% down at ₹1,53,086 per 10 grams, while MCX silver May contracts were 0.34% up at ₹2,49,469 per kg. The international gold prices were poised for a fourth consecutive weekly gain, driven by hopes of a US-Iran peace deal, which would alleviate concerns of elevated inflation and subsequent higher interest rates.

The US dollar, which appears set for a second weekly decline, fell to a six-week low in the previous session. A weaker dollar makes the greenback-backed yellow metal cheaper for overseas buyers, further supporting the gold prices. The market anticipates that the US Federal Reserve will pause interest rates this month, with the US Federal Open Market Committee (FOMC) scheduled to meet on April 28-29.

Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns

The following table presents a comparison of gold and silver prices in various cities across India on 17 April:

Gold and silver prices in various cities across India on 17 April.

The gold and silver prices have been witnessing increased volatility in recent times, as investor risk appetite appears to be returning amid emerging signs that the US and Iran may find a way to end their conflict in the coming few days. The US President Donald Trump has announced a historic 10-day ceasefire between Israel and Lebanon, and claimed it to be the 10th war that he has stopped.

Read also: Gold and Silver Prices in India: A Review of Current Rates Across Major Cities

Gold prices last year experienced their strongest bull run since 1979, rising by over 75%. In recent months, gold prices have risen modestly amid safe-haven demand and global economic uncertainty. Meanwhile, silver prices have seen even steeper increases due to strong demand, geopolitical uncertainty, and currency fluctuations, rising from roughly ₹78,600/kg in 2023-2024 to over ₹200,000/kg in the first two months of 2026.