Gold prices in India decline for a second consecutive day, influenced by overseas market weakness and investor profit-taking, as traders brace for the festive and wedding seasons amid volatile global cues.
Gold prices eased for a second straight day in India on 11 August 2026, with weakness in overseas markets and softer domestic buying sentiment weighing on bullion. The move came as traders also reported selling pressure in the futures market, while jewellers and households preparing for the festive and wedding seasons watched for signs of further price swings.
The latest pullback follows a sharp run-up in domestic gold over recent weeks. The World Gold Council said in a mid-August update that Indian prices had risen 1.6% month to date and were up 31% year to date, even as signs of demand revival began to emerge ahead of the busy buying season. It said interest picked up at the India International Jewellery Show and noted a third consecutive month of net inflows into Indian gold exchange-traded funds, suggesting investors are still using dips to accumulate exposure.
Market weakness in the global spot price has been linked to a firmer US dollar and improved Treasury yields, while earlier reports from BullionWorld and ICICI Prudential Asset Management have also pointed to profit-taking, changing expectations over US monetary policy and shifting risk appetite as key forces driving volatility. Those same reports show how quickly gold can reverse course when safe-haven demand competes with improving sentiment in wider financial markets.
Against that backdrop, the indicative retail rates quoted for 10 grams of 24-carat gold ranged from ₹1,47,170 in Mumbai, Kolkata and Hyderabad to ₹1,48,250 in Chennai, with Delhi, Lucknow and Jaipur at ₹1,47,320 and Patna slightly higher at ₹1,47,370. The figures for 22-carat gold were similarly clustered, from ₹1,40,150 in Mumbai, Kolkata and Hyderabad to ₹1,41,200 in Chennai. Industry guidance also continues to stress that buyers should look for BIS hallmarked jewellery with a six-digit HUID code, while remembering that the quoted rates exclude GST and making charges.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
