Gold Prices Surge in India as Oil Falls
Gold prices surged across major retail jewellery brands in India on Friday, September 18, 2026, following a decline in global oil prices. Buyers will see higher gold rates at leading jewellers such as Tanishq, Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers across various markets including New Delhi, Mumbai, Chennai, Kolkata, Bengaluru, Coimbatore, and Thiruvananthapuram.
Vedika Narvekar, research analyst at Anand Rathi Share and Stock Brokers, noted that gold is holding onto its gains due to Treasury yields cooling off after the Fed's rate hike on Wednesday. Oil has also fallen for a third consecutive day as Saudi Arabia works to restore pipeline flows, easing inflation anxiety.
The Indian Bullion and Jewellers Association (IBJA) reported higher gold rates on Friday, with 22k gold jewellery priced at Rs 14,997 per gram, up from Rs 14,821 per gram on Thursday. The IBJA also recorded a price increase in silver, with 999-purity silver priced at Rs 2,36,116 per kg, up from Rs 2,29,642 per kg the previous day.
Narvekar predicted that gold will trade within a broad $4,320-4,420/oz range for the day, influenced by dollar fluctuations and any fresh oil headlines.