Commodities
India's Gold Prices Swing Amid West Asia Tensions
Gold prices in India have seen fluctuations due to rising tensions in West Asia. As of August 1, 2026, the price of 24-carat gold stands at Rs 14,422 per gram, while 22-carat and 18-carat gold prices are Rs 13,220 per gram and Rs 10,816 per gram respectively.
The prices have decreased by Rs 38, Rs 35, and Rs 29 from July 31 for 24-carat, 22-carat, and 18-carat gold respectively. The fluctuations are attributed to shifting international benchmarks, government import duties, and exchange rate variations.
Investors are turning back to gold as a safe-haven asset due to growing geopolitical turmoil and market swings. Brent crude prices have spiked by over 6% to $100 per barrel for the first time since May amid escalating conflict in West Asia.