1 week ago
Gold Prices Rebound in India as Dollar Weakens, Yields Shift
Gold prices in India went up on 21 August 2026 after falling slightly the day before.
The price of 24K gold reached ₹160,040 for 10 grams.
Prices were different in each city, with Chennai highest and Delhi lowest among the listed cities.
Indian gold cost more than the listed Dubai price, although taxes and other charges were not included.
A weaker US dollar helped make gold more attractive to buyers in other countries.
A decision by the US Treasury Department to increase long-term bond buybacks also affected markets.
Lower expectations of a Federal Reserve rate hike and continued central-bank buying gave gold more support.
However, high oil prices and inflation worries made investors cautious.
An analyst said gold could continue moving upward but identified ₹160,000–₹160,200 as a resistance range.
Investors were advised to compare Indian prices with international trends before buying.
India’s 24K gold price rose ₹460, or 0.29%, to ₹160,040 per 10 grams on 21 August 2026.
The 22K rate increased to ₹146,703, while 18K gold rose to ₹120,030 per 10 grams.
Chennai recorded the highest listed 24K price at ₹160,510, while Delhi had the lowest at ₹159,760.
Indian 24K gold was ₹22,635, or 16.47%, more expensive than Dubai’s listed ₹137,405 price, excluding fees, duties and taxes.
A weak dollar, Treasury buybacks, reduced rate-hike expectations and central-bank purchases supported prices, while inflation risks remained a concern.
- Who
- Indian gold buyers and investors, global markets, the US Treasury Department, the Federal Reserve and analyst Jigar Trivedi.
- What
- Gold prices in India rebounded by 0.29% across the listed purity levels on 21 August 2026.
- Where
- India, including Mumbai, Chennai, Delhi and Bengaluru, with prices compared with Dubai.
- When
- 21 August 2026, following a 0.08% decline on 20 August.
- Why
- A weaker US dollar, increased Treasury buybacks, lower expectations of a Federal Reserve rate hike and central-bank purchases supported gold, while inflation and oil-price risks affected the outlook.
Downside pressures
Bullish supports
Interest rates and yields
Downside pressures
Higher yields and the possibility of tighter monetary policy can make bonds and currencies more attractive than non-interest-bearing gold; the 20 August report also cited profit booking.
Bullish supports
The 21 August report said reduced expectations of a Federal Reserve rate hike and changing yields could support gold prices.
Market direction
Downside pressures
Inflation risks linked to high oil prices and volatility in bond and currency markets could make investors cautious.
Bullish supports
A weak US dollar, continued central-bank purchases, especially from China, and geopolitical uncertainty could maintain bullish momentum.
Near-term price outlook
Downside pressures
The earlier report identified ₹157,700 per 10 grams as intraday support after profit-booking pressure.
Bullish supports
The later report described MCX Gold October as having a positive undertone, although ₹160,000–₹160,200 per 10 grams was identified as near-term resistance.
Key facts
- 24K India rate
- ₹160,040 per 10 grams on 21 August, up ₹460 or 0.29% from the previous close.
- 22K India rate
- ₹146,703 per 10 grams, up ₹421.60 or 0.29%.
- 18K India rate
- ₹120,030 per 10 grams, up ₹345 or 0.29%.
- Highest listed metro rate
- Chennai’s 24K gold price was ₹160,510 per 10 grams.
- Lowest listed metro rate
- Delhi’s 24K gold price was ₹159,760 per 10 grams.
- India-Dubai difference
- India’s 24K price was ₹22,635, or 16.47%, above Dubai’s listed ₹137,405 price, excluding fees, duties and taxes.
- Analyst outlook
- Jigar Trivedi said MCX Gold October had a positive undertone, with ₹160,000–₹160,200 per 10 grams acting as resistance.
Quotes
Jigar Trivedi
Senior Research Analyst at InduInd Securities
“"In line with the global trends, MCX Gold October is expected to experience a profit booking and Rs. 157,700/10g is a support for intraday today."”
financialexpress.com
“MCX Gold October is likely to trade with a positive undertone, and Rs 160,000-160,200/10g is resistance for now.”
financialexpress.com
Sources
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