India's Gold Prices Plummet Amid Global Uncertainty
Gold prices in India declined on August 28, 2026, with MCX futures recording a four-day slump. The drop is attributed to international market sensitivity to ongoing US-Iran geopolitical tensions and uncertainty surrounding upcoming US Federal Reserve policy signals.
The price of 24-carat gold settled at approximately ₹15,982 per gram, while 22-carat gold traded near ₹14,650 per gram. This price movement follows a consistent decline on the Multi Commodity Exchange (MCX), where gold futures have now fallen for four consecutive trading sessions.
The pullback highlights the direct impact of international factors on domestic gold valuations, which often react quickly to shifts in global risk sentiment. Heightened geopolitical tensions between the US and Iran have contributed to increased market volatility, influencing how investors perceive risk.