Gold Prices Plummet for Fourth Straight Session
Gold prices continued their downward trend for a fourth consecutive session on Monday, August 31, 2026. The yellow metal dropped ₹1,500 to ₹1,60,900 per 10 grams in New Delhi's national capital.
The decline was largely attributed to bearish global cues and profit-booking by traders following the strong run of gold prices in recent weeks. According to Gaurav Garg, Head of Research at Lemonn Markets Desk, 'Gold prices remained under pressure after Federal Reserve Chair Kevin Warsh's hawkish speech at the Jackson Hole Symposium increased expectations of an interest rate hike in September meeting.'
Higher US Treasury yields and a stronger dollar further weighed on precious metals. The bullion market also took cues from rising oil prices following fresh US-Iran military strikes, which added to inflation concerns and potentially strengthened the case for tighter monetary policy.