Gold and silver prices in India fell for a third consecutive session on Thursday, April 23. The dip mirrors global markets where a stronger U.S. dollar and higher bond yields have reduced bullion’s appeal. Shifting expectations around interest rates are prompting investors to stay cautious, dragging prices in major cities including Mumbai.
Global natural diamond prices have dropped sharply, with Alrosa’s shares down 77% and Anglo American booking a fresh $2.3 billion impairment on De Beers. Yet India’s wedding traditions—and rising gold prices—appear to be buffering demand, keeping diamonds marketed as “forever” even as the global shine fades.
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The RBI has fixed the premature redemption price for Sovereign Gold Bond SGB 2018-19 Series-II at Rs 15,219 per unit. The amount is calculated using the average gold price over the three preceding working days. Premature redemption will be available from April 23, 2026, after investors complete the fifth year from issuance.
ICRA Analytics says gold ETFs are drawing sharply more investor money as geopolitical worries mount and gold prices keep rallying. Assets under management have grown to about Rs 1.71 lakh crore, with nearly 65% CAGR over five years. In March 2026 alone, inflows jumped to ₹2,266 crore, signaling a stronger shift toward safe-haven portfolios.
BlueStone’s store-addition targets in FY26 were derailed by a sharp jump in gold prices. In its Q4 earnings call, management said it adopted a cautious, demand-led approach after gold spiked to about ₹1.42 lakh per 10g. While 17 stores were added in Q4, the FY26 total hit only 65 versus a projected 290. Inventory turnover and ROIC also took a hit via revaluation.
Gold rates across major Indian jewellery brands fell on Thursday, April 23, 2026. The decline follows the US extending its ceasefire with Iran, which eased some geopolitical risk premium in bullion. However, persistent worries about a potential Strait of Hormuz disruption kept energy risks and inflation concerns elevated, limiting how far prices could drop.
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