Gold Prices Soar to Four-Week High Ahead of Navratri Amid Fed Rate Pause

Gold prices in India rose to their highest levels in weeks on September 21, 2026, ahead of Navratri. The Federal Reserve's decision to hold interest rates through the fourth quarter lifted global gold prices, with 24-karat gold reaching ₹15,813 per gram in Delhi. This is a gain of ₹132 per gram since September 4, 2026, or roughly 0.84% over two and a half weeks.

The rally was driven by comments from Federal Reserve Vice Chair John Williams on Friday, who indicated the central bank was satisfied with current policy and saw no case for additional tightening in the near term. Gold is sensitive to Fed signalling because a higher-rate environment raises the opportunity cost of holding a non-yielding metal.

For Indian buyers, the combination of a rate pause narrative and the festive season is a difficult one to wait out: prices during Dhanteras and Diwali in October typically reflect whatever gains Navratri demand sets in motion. Silver also rose on September 21, 2026, with silver grades increasing by ₹39-₹40 per gram.