The surge follows a volatile start to the week where gold prices initially retraced. On Monday, 24 carat gold retailed with a cut of ₹540 or 0.35% at ₹1,55,030 per 10 gm, while 22 carat gold was priced at ₹1,42,130 per 10 gm, down by ₹500 or 0.35%. Across major jewellery brands as of April 22, 2026, Tanishq listed 22 carat gold at ₹1,42,250 and 24 carat at ₹1,55,180 per 10 gm. Joyalukkas priced 22 carat gold at ₹1,41,850 per 10 gm, a rate matched by Kalyan Jewellers, which also listed 24 carat gold at ₹1,54,750 per 10 gm. The shift from Monday’s retail slump to Wednesday’s futures rally underscores a market reacting sensitively to the indefinite extension of the ceasefire, marking a significant pivot in global economic sentiment and precious metal valuation.
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