2 days ago
Indian Gold Prices Unchanged Amid Rising Fed Rate Hike Bets
Gold prices in India stayed the same on 29 August 2026.
Ten grams of pure 24K gold cost ₹156,540.
The prices of 22K and 18K gold also did not change.
The day before, gold prices had dropped by 1.77%.
Chennai had the highest listed price, while Delhi had the lowest.
Indian gold cost more than the comparable gold price in Dubai.
Experts say possible US interest-rate increases and higher oil prices are putting pressure on gold.
Investors are watching US jobs data for clues about future prices.
Gold had still gained more than 9% during August.
On 29 August 2026, India’s 24K gold price was ₹156,540 per 10 grams, unchanged from the previous close.
National 22K and 18K gold prices were ₹143,495 and ₹117,405 per 10 grams, respectively, also unchanged.
On 28 August, 24K gold had fallen 1.77%, or ₹2,820, from the prior close.
Among listed cities, Chennai recorded the highest 24K rate at ₹156,990, while Delhi had the lowest at ₹156,270.
Indian 24K gold was ₹19,135, or 13.93%, more expensive than Dubai’s rate, excluding fees, duties and taxes.
- Who
- Indian gold buyers and investors, analysts, Jigar Trivedi, and the US Federal Reserve.
- What
- Indian gold prices remained unchanged on 29 August after falling the previous day, while analysts assessed near-term market pressures.
- Where
- India, with prices listed for cities including Mumbai, Chennai, Delhi and Bengaluru; Dubai is used for comparison.
- When
- 29 August 2026; the previous reported decline occurred on 28 August 2026.
- Why
- Expectations of a possible US Federal Reserve rate hike and elevated crude oil prices are weighing on gold, while international rates, currency movements and import duties influence Indian prices.
Key facts
- 24K national rate
- ₹156,540 per 10 grams on 29 August, unchanged
- 22K national rate
- ₹143,495 per 10 grams, unchanged
- 18K national rate
- ₹117,405 per 10 grams, unchanged
- Previous-day move
- 24K gold fell ₹2,820, or 1.77%, on 28 August
- Highest listed city rate
- Chennai: ₹156,990 per 10 grams for 24K gold
- Lowest listed city rate
- Delhi: ₹156,270 per 10 grams for 24K gold
- India-Dubai difference
- India’s 24K rate was ₹19,135, or 13.93%, higher than Dubai’s
- Analyst range
- Jigar Trivedi cited ₹155,500 per 10 grams as support and ₹156,800 as resistance for MCX Gold October
Quotes
Jigar Trivedi
Senior Research Analyst at IndusInd Securities
“In line with the global trends, MCX Gold October is expected to decline to Rs. 155,500/10g and on the flip side Rs. 156,800/10g is resistance”
financialexpress.com
financialexpress.com
Sources
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