Middle East Tensions Drive Gold Prices in India to New Heights
The price of gold in India is experiencing fluctuations due to ongoing turmoil in the Middle East. As of September 1, 2026, the price of 24K gold stands at Rs 15,693 per gram, marking an increase of Rs 16 over the previous day's price.
Similar increases are seen in the prices of 22K and 18K gold, which currently stand at Rs 14,385 per gram and Rs 11,770 per gram respectively. The city-wise rates show varying prices across different regions, with Chennai and Mumbai having the same rate for 24K gold at Rs 15,693.
The rise in gold prices is attributed to escalating military conflicts between the US and Iran, which have driven crude oil prices past $91 per barrel. This has led to concerns of inflation and reshaped central bank interest rate forecasts. As a result, investors are turning towards gold as a safe-haven asset.