Gold Prices Rise Amid Middle East Tensions and Ongoing Iran-US Conflict

Gold prices in India have surged to Rs 15,442 per gram for 24 carat gold. Rs 14,155 er gram for 22 carat gold, and Rs 11,582 per gram for 18 carat gold as of September 18, 2026. The price increase reflects a rise of Rs 158 over the previous day's prices, according to Good Returns.

According to Vedika Narvekar, Research Analyst- Commodities & Currencies at Anand Rathi Share and Stock Brokers, "Gold is holding onto its gains today, trading near $4,359 an ounce after a strong bounce yesterday that erased most of the losses from earlier in the week." She added that two factors are contributing to gold's recent surge: cooling treasury yields following the Fed's rate hike on Wednesday and falling oil prices due to Saudi Arabia's efforts to restore pipeline flows.

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Concurrently, Iran's Islamic Revolutionary Guard Corps announced it intercepted and struck a Togo-flagged tanker attempting an "illegal passage" through the Strait of Hormuz. Oil prices in Europe have also increased amid the ongoing conflict in the Middle East. The U.S.

has blocked a high-level Palestinian delegation from attending the UN General Assembly in New York for a second straight year. According to Erika Guevara Rosas, Amnesty International’s senior director for research, advocacy, policy, and campaigns.

The ongoing conflict between Iran and the U.S. has led to a significant escalation in tensions in the Middle East. A short-lived pause in fighting, initially arranged by Washington and Tehran in mid-June 2026 as a 60-day armistice to protect merchant maritime corridors, rapidly disintegrated beneath a relentless wave of targeted missile strikes and ongoing hazards to commercial ships.

The swift escalation of turbulence across international energy markets compelled investors to seek refuge in gold as the premier safe haven investment. This led to an increase in local bullion valuations alongside global spot market trends. Revised import duty policies, and foreign exchange market swings.

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Gold prices have been influenced by various factors, including changes in interest rates and oil prices. The recent surge in gold prices can be attributed to a combination of these factors. As well as investor sentiment and geopolitical tensions.

Vedika Narvekar's comments on the current state of gold prices highlight the importance of understanding market trends and geopolitical events. Her insights provide valuable context for investors seeking to navigate the complex world of commodities and currencies.