Gold Prices Plummet in India Amid Ongoing Middle East Tensions
The gold price in India dropped on August 14, 2026, due to ongoing tensions in the Middle East. According to Good Returns, 24 carat gold now costs Rs 15,289 per gram, a decrease of Rs 71 from the previous day's rate. The prices for 22 carat and 18 carat gold also saw a decline, with the former costing Rs 14,015 per gram and the latter Rs 11,467 per gram. The current prices reflect the impact of international turmoil on precious metal markets.
The US Treasury Secretary Scott Bessent warned that the US will soon take harsher actions against Iran than previously seen. This development has kept oil prices volatile, with Brent crude dropping by about 2% on Thursday. However, despite the temporary drop in oil prices, overall prices are still up around 4% for the week.
The fragile truce between the US and Iran signed in mid-June was short-lived, with non-stop missile strikes and constant threats to commercial sea lanes destroying the agreement. As a result, gold has become an attractive safe-haven investment for investors seeking stability amidst international conflict.