Gold Rate Today, August 13: Check 18, 22 and 24 carat gold prices in Chennai, Mumbai, Delhi, Kolkata and other cities

City Wise Rate:

Tensions in West Asia

President Donald Trump reiterated claims of complete U.S. authority over the Strait of Hormuz, even as maritime traffic through the vital channel plunged to its lowest level in a week due to the intensifying war with Iran.

Meanwhile, a defiant Tehran vowed to sustain its resistance against Washington and maintain the blockade until its conditions are fully satisfied.

Iran’s Foreign Minister Abbas Araghchi has criticised France and other Western nations, warning that their support for Israeli military actions invalidates their moral authority on human rights.

Worldwide crude prices are holding near multi-week highs, with Brent crude hovering around $87.80 per barrel and WTI crude at approximately $82.22 per barrel.

Geopolitical strain throughout the area had temporarily subsided following an unexpected 60-day pact negotiated by the United States and Iran during mid-June 2026, aimed at halting armed conflicts and securing essential maritime routes. Nevertheless, unrelenting strikes and continuous threats to open shipping corridors swiftly shattered the fragile truce, prompting both countries to discard the agreement and restart active military operations.

As diplomatic options disintegrated, severe volatility across energy sectors compelled investors to turn toward gold as a reliable safe haven amid international unrest. Local precious metals markets mirror this global instability, as domestic gold prices swing on a daily basis driven by worldwide spot values, government import tariffs, and currency exchange rate shifts.