1 week ago
Indian Gold Prices Rise Slightly After Previous Day’s Dip
Gold became a little more expensive in India on 26 August 2026.
Ten grams of 24K gold cost ₹163,220.
The latest report said this was ₹90 higher than the previous close.
Prices were still near a three-month high, but some traders sold gold to take profits.
A slightly stronger US dollar also reduced demand because it makes gold costlier for people using other currencies.
Investors were waiting for US inflation data and a speech by Kevin Warsh for clues about interest rates.
Gold was also supported by expectations about US Treasury bond buybacks and strong demand from China.
Analysts generally expected prices to stay positive but warned that a short-term correction could happen.
24K gold in India rose ₹90 to ₹163,220 per 10 grams on 26 August 2026, according to the latest report.
22K gold increased to ₹149,618, while 18K gold reached ₹122,415 per 10 grams.
Chennai recorded the highest listed 24K rate at ₹163,700, while Delhi had the lowest at ₹162,940.
Gold prices remained near a three-month high but faced pressure from profit-taking and a firmer US dollar.
India’s 24K gold price was ₹25,815, or 18.79%, above Dubai’s price before fees, duties, and taxes.
- Who
- Gold buyers, investors, traders, analysts, the US Treasury, and the US Federal Reserve were involved; analysts cited were Jigar Trivedi and Ponmudi R.
- What
- Indian gold prices rose slightly, with 24K gold reaching ₹163,220 per 10 grams on 26 August 2026.
- Where
- Rates were reported for Indian cities including Mumbai, Chennai, Delhi, Bengaluru, Ahmedabad, Hyderabad, Kolkata, Pune, and Surat, with a comparison to Dubai.
- When
- 26 August 2026, compared with prices reported on 25 August 2026.
- Why
- Prices were influenced by profit-taking, a firmer US dollar, expectations surrounding US economic data and interest rates, US Treasury bond-buyback plans, and investment and import demand from China.
Positive Outlook
Correction Risk
Near-term direction
Positive Outlook
Analysts said gold could maintain a positive bias, supported by dollar weakness, US Treasury bond-market interventions, scaled-back rate-hike expectations, and lower oil prices.
Correction Risk
The latest report said gold had fallen from its three-month high as traders booked profits, and Jigar Trivedi warned that a technical correction could occur.
Market support
Positive Outlook
The US Treasury’s bond-buyback plans, strong investment and import demand from China, and increased gold-backed exchange-traded fund inflows were cited as supports for prices.
Correction Risk
A firmer US dollar makes gold more expensive for holders of other currencies, which can reduce demand and pressure prices.
Key facts
- 24K gold price
- ₹163,220 per 10 grams in India, up ₹90 or 0.06% in the 26 August report.
- 22K gold price
- ₹149,618 per 10 grams, up ₹82.50 or 0.06%.
- 18K gold price
- ₹122,415 per 10 grams, up ₹67.50 or 0.06%.
- Highest listed metro rate
- Chennai: ₹163,700 per 10 grams for 24K gold.
- Lowest listed metro rate
- Delhi: ₹162,940 per 10 grams for 24K gold.
- India-Dubai difference
- India’s 24K gold price was ₹25,815, or 18.79%, higher than Dubai’s ₹137,405, excluding fees, duties, and taxes.
- Analyst levels
- Jigar Trivedi identified ₹162,600 as support and ₹163,600 as resistance for MCX gold; Ponmudi R. cited further support below ₹162,000 at ₹160,600-₹160,000 and ₹158,500-₹158,000.
- Reported previous-close discrepancy
- The 26 August report listed the previous 24K close as ₹163,130, while the 25 August report listed ₹163,120.
Quotes
Jigar Trivedi
Senior Research Analyst at IndusInd Securities
“MCX gold October is expected to continue with the positive undertone, having said that a technical correction is not ruled out. Rs. 162,600/10g is support and Rsm 163,600/10g is resistance going ahead.”
financialexpress.com
“Gold-backed ETFs have also recorded increased inflows in recent weeks, signaling broader market participation and strengthening investment demand.”
financialexpress.com
Ponmudi R
CEO of Enrich Money
“A break below Rs 162,000 will drag prices toward support at Rs 160,600-160,000, with next support at Rs158,500-158,000.”
financialexpress.com
Sources
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