Gold Prices Hold Steady in India Amid Global Volatility

On October 6, 2026, gold prices in India remained elevated, reflecting a sharp increase in August followed by a correction in September and early October. The latest prices stood at ₹14,918 per gram for 24K gold, ₹13,675 per gram for 22K gold, and ₹11,189 per gram for 18K gold. This translates to ₹1,49,180 for 10 grams of 24K gold, ₹1,36,750 for 22K, and ₹1,11,890 for 18K gold before additional charges.

In August 2026, 24K gold saw a 7.85% appreciation, rising from ₹1,42,876 per 10 grams at the start of the month to ₹1,54,090 by the end. The volatility in the market has been significant, influenced by global factors such as the US dollar's strength, Treasury yields, and Federal Reserve policy expectations. International gold prices for immediate delivery were around $4,139.89 per troy ounce, with US gold futures at $4,156.80 per troy ounce, both showing a slight decline of 0.1% due to a strong dollar and rising yields.

Domestic gold prices varied slightly across major cities, with Delhi marginally higher at ₹14,933 per gram for 24K gold. The MCX saw gold at ₹1,47,391 per 10 grams on October 5, a 0.32% decrease, while silver rose by 0.56% to ₹2,27,150 per kg, indicating differing demand drivers for the two metals. Gold is primarily influenced by investment demand and central bank policies, whereas silver also has significant industrial demand.

Experts suggest that short-term gold trading remains choppy, with potential declines in the dollar and lower interest rate expectations favoring gold. Long-term Indian investors may benefit from the rupee's depreciation alongside favorable global prices. Buyers are advised to verify hallmarks, compare prices across jewellers, and consider staggered purchases to mitigate market volatility.