Gold prices in India edged higher on August 8, driven by festive demand, regional tensions, and global economic uncertainties, continuing a year-long upward trend despite recent volatility.
Gold prices in India edged higher on August 8, with 24-carat gold quoted at ₹15,235 per gram, 22-carat at ₹13,965 and 18-carat at ₹11,426, according to GoodReturns. The latest move marked gains of ₹109, ₹100 and ₹82 respectively from the previous day, extending a pattern of day-to-day volatility in a market that has remained sensitive to global sentiment and regional tensions.
The Indian gold market has been on a strong run over the past year. A World Gold Council update in mid-August 2025 said domestic prices had risen 31% year to date, reaching ₹99,665 per 10 grams, while discounts in the local market had narrowed as demand improved ahead of the festive and wedding season. The council also noted a third straight month of net inflows into Indian gold exchange-traded funds, suggesting investors were still using the metal as both a store of value and a portfolio hedge.
That momentum followed a choppier start to 2026. ICICI Prudential Asset Management said in a March factsheet that gold ended February 25 at ₹1,59,008 per 10 grams, down 3.42% from late January, as profit-taking and shifting expectations for US monetary policy weighed on prices. Even so, the firm said safe-haven demand limited the decline, helped by stronger-than-expected US economic data and rising geopolitical tensions.
Longer-term studies point to just how sharply gold has appreciated in India. Research published by the Advanced International Journal for Research said prices had climbed from ₹19,609 in 2011 to ₹1,54,545 by early 2026, a rise of 688%, with major festival periods such as Diwali, Dhanteras and Akshaya Tritiya continuing to shape buying patterns. That seasonal demand, combined with global uncertainty, helps explain why even short-lived dips in bullion often give way to renewed buying.
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