Indian Gold Prices Dip Amid West Asian Tensions
The gold price in India has seen a slight decrease today, October 3, 2026. According to Good Returns, 24 carat gold now stands at Rs 14,918 per gram, down from Rs 15,028 on October 2. Similarly, the prices of 22 carat and 18 carat gold have also decreased, standing at Rs 13,675 per gram and Rs 11,189 per gram respectively.
The City Wise Rate chart shows that the gold prices remain largely consistent across different cities in India, with slight variations in certain areas. For instance, the price of 24 carat gold in Pune is slightly higher than the national average at Rs 15,918 per gram, while in Ahmedabad it is lower at Rs 14,923 per gram.
The recent decrease in gold prices can be attributed to the ongoing tensions in West Asia, particularly the escalating conflict between Saudi-led coalition forces and Houthi rebels in Yemen. The global crude oil and refined product supplies remain drastically below pre-war levels, leading to a safe-haven rally that has driven domestic gold prices higher.