Gold Prices Soar in India Amid US Fed Hike and Geopolitical Uncertainty

The price of gold in India has surged to ₹1.55 lakh per 10 grams due to the recent US Federal Reserve interest rate hike and geopolitical uncertainty.

According to the latest reports, the India benchmark for 24K gold is ₹15,584 per gram, while 22K gold stands at ₹14,285 per gram and 18K at ₹11,688 per gram on September 21, 2026.

The sharp mid-month dip followed by a recovery in gold prices has been observed, with the 24K rate rising by ₹300 per gram or ₹3,00,000 per kilogram from September 17 to September 19.

The World Gold Council notes that COMEX gold futures are quoted in US dollars per troy ounce and reflect expectations, interest rates, and the cost of carry.