4 days ago
Gold Prices Fall as Dollar Strengthens and Traders Book Profits
Gold prices went down and moved up and down on August 28, 2026.
The report covers 24K, 22K, and 18K gold in several major cities.
The exact prices for each city were not included in the supplied article.
The US dollar became stronger, rising above 99.15.
Some traders sold gold to lock in profits after prices had risen in recent weeks.
This profit-taking happened for the third session in a row.
The domestic bullion market was also under pressure.
The report linked that pressure to news about lower customs duties amid increasing precious-metal smuggling.
Gold prices fluctuated after rising over the previous few weeks.
The US dollar strengthened above the 99.15 level, according to the report.
Traders booked profits for a third consecutive session.
The domestic bullion market faced pressure amid reported customs-duty reduction plans.
Jatin Trivedi of LKP Securities attributed the movement to currency and market factors.
- Who
- Gold traders and the domestic bullion market; Jatin Trivedi of LKP Securities provided analysis.
- What
- Gold prices fell and fluctuated after recent gains.
- Where
- The report discusses gold prices in Delhi, Mumbai, Kolkata, Chennai, Lucknow, and other major cities, as well as the domestic bullion market.
- When
- August 28, 2026; profit-taking was reported for the third consecutive session.
- Why
- A stronger US dollar, trader profit-booking, and pressure linked to reported customs-duty reductions affected prices.
Key facts
- Date
- August 28, 2026
- Products covered
- 24K, 22K, and 18K gold
- Dollar level
- The US dollar strengthened above 99.15
- Trading pattern
- Traders booked profits for the third consecutive session
- Market affected
- The domestic bullion market
- Analyst
- Jatin Trivedi, Vice President and Research Analyst for Commodities and Currency at LKP Securities
- Additional pressure
- News of a customs-duty reduction amid increasing precious-metal smuggling
Sources
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