Gold Prices Surge Amid Geopolitical Uncertainty
Gold prices in India surged on Saturday, August 22nd, as investors sought safe-haven assets amidst geopolitical uncertainty and inflationary pressures. According to data from The Sunday Guardian, gold rates for 24K, 22K, and 18K rose to ₹16,309 per gram, ₹14,950 per gram, and ₹12,232 per gram respectively.
The rally comes as the Federal Reserve's dovish shift and escalating tensions between the US and Iran added to global market volatility. Indian buyers also reacted to the weakening rupee against the US dollar, which influenced domestic bullion prices.
In Delhi, gold rates were slightly higher than national indicative prices, with 24K, 22K, and 18K rates at ₹16,324 per gram, ₹14,965 per gram, and ₹12,247 per gram respectively. The 24K rate rose by ₹261 per gram in a single session.
Experts predict that gold will continue to consolidate around ₹1.60, ₹1.62 lakh per 10 grams in the near term, with silver seen as a buying opportunity ahead of its target price of ₹2.70 lakh per kg in Q4 2026.