Gold Prices Soar in India Amid Global Volatility
Gold prices have seen a significant surge in India on August 20, 2026, with 24K gold rising by ₹430 to ₹15,927 per gram. The price of 22K gold also saw an increase of ₹395 and reached ₹14,600 per gram.
The rise in gold prices can be attributed to the relatively calm market performance seen on the previous day. However, global gold prices are still volatile, with the spot price of gold down by 0.7% to $4,487.63 per ounce after reaching a high of $4,525.79.
According to analyst Ilya Spivak, gold would continue to rise if prices stay above the $4,400-$4,500 range post-rally. However, there is also a risk that RBI may adopt a hawkish stance and hike rates earlier than expected, which could put pressure on gold prices.
Silver prices have also seen an increase, with ₹10 being added to its price per gram, making it ₹255 per gram. The current sentiment in the country is slightly more bullish, with silver rising by 8.51% in August.