Gold Prices Soar on Weaker Dollar and Global Market Uncertainty
Gold prices in India have risen sharply on August 21, 2026, as international market developments and a weaker US dollar supported demand for safe-haven assets. Domestic gold rates remained near elevated levels, with retail prices varying across Indian cities.
According to market trackers, 24K gold in Mumbai was around ₹1,59,280 per 10 grams, while 22K gold stood at approximately ₹1,46,010 per 10 grams. In Chennai, 24K gold was around ₹1,59,430 per 10 grams and 22K gold was about ₹1,46,160.
The US dollar weakened after the US Treasury announced it would double the size of its long-term bond buyback operations from $2 billion to at least $4 billion. This move pushed US Treasury yields lower and contributed to weakness in the dollar, supporting gold prices.