Archive · 31 Aug 2026
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.
- When
- 29 August 2026; the previous reported decline occurred on 28 August 2026.
- Where
- India, with prices listed for cities including Mumbai, Chennai, Delhi and Bengaluru; Dubai is used for comparison.
- 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.
- 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