Gold prices across India have extended their recent rally, influenced by global market signals, domestic demand, and geopolitical tensions, with benchmark rates reaching new highs in key purities.
Gold prices in India extended their recent climb on Tuesday, with benchmark rates firming across the main purities tracked by jewellers. According to GoodReturns, 24-carat gold was priced at Rs. 15,589 per gram, 22-carat at Rs. 14,290 and 18-carat at Rs. 11,692. The move continued a steady run higher over the past few sessions, after 24-carat prices rose from Rs. 15,442 on 14 August and 22-carat gold increased from Rs. 14,155 over the same period.
At the retail level, the big chains were largely in line with the broader market, though some quoted a small premium. GoodReturns reported that Tanishq was charging Rs. 15,638 a gram for 24-carat gold, Rs. 14,335 for 22-carat and Rs. 11,729 for 18-carat metal. Malabar Gold & Diamonds and Joyalukkas both listed 24-carat gold at Rs. 15,589 and 22-carat at Rs. 14,290, while Joyalukkas also quoted Rs. 11,692 for 18-carat gold. Kalyan Jewellers set 22-carat gold at Rs. 14,270 in cities including Bengaluru, Mumbai, Delhi, Kolkata and Chennai.
The latest rise comes after a volatile few months for the market. Earlier reporting in April showed a modest pullback ahead of Akshaya Tritiya, one of India’s key gold-buying festivals, while July prices were comparatively steady. By early August, rates had softened before the recent rebound. That pattern reflects the usual mix of domestic demand, festival buying and global price signals that influence Indian jewellery pricing.
Prithviraj Kothari, managing director at RiddiSiddhi Bullions, said gold and silver held on to much of the previous week’s gains despite some profit-taking, pointing to weaker US labour data, softer inflation readings and renewed geopolitical tensions in the Strait of Hormuz. He added that the dollar was rangebound and that investors were watching Jackson Hole for the next major cue. In practical terms, that means Indian buyers are still dealing with a market shaped as much by overseas rate expectations and currency moves as by local demand.
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