On April 23, 2026, gold prices experienced a decline as geopolitical tensions influenced market dynamics. The price of 22k gold at Tanishq is now ₹14,115 per gram, down from ₹14,225 the previous day. Analysts attribute this drop to the extended ceasefire between the US and Iran, which has alleviated some immediate concerns but left energy risks and inflation elevated due to potential disruptions in the Strait of Hormuz. Divya Mandaliya, a commodity research analyst at Anand Rathi Shares and Stock Brokers, noted that firm oil prices above $100 and rising treasury yields are capping gold's upside potential. Looking ahead, gold is expected to remain range-bound between ₹4,700 and ₹4,780, with market focus on upcoming US jobless claims and PMI data. Other major jewellery brands, including Joyalukkas and Malabar Gold & Diamonds, reported similar prices for 22k gold, which stood at ₹14,075 per gram. The Indian Bullion and Jewellers Association Ltd. (IBJA) also indicated a decline in retail selling rates for gold and silver, reflecting broader market trends.