Gold Prices Plummet in India Amid US Interest Rate Hike
Gold prices in India fell by 0.93% on September 17, 2026, to ₹151,890 per 10 grams for 24K gold, compared to its previous close.
The price of 22K gold dropped to ₹139,233 per 10 grams, while 18K gold prices decreased to ₹113,918 per 10 grams.
Gold prices in India are influenced by international spot gold rates, US dollar fluctuations, and import duties on gold. The prices remain higher than in Dubai, with a difference of 11.43% or ₹15,585 per 10 grams for 24K gold.
The US Federal Reserve's hawkish remarks and interest rate hike have contributed to the decline in gold prices. Analysts expect gold prices to remain range-bound in the near-term as markets monitor the escalations in the Middle East.