Mumbai, August 24 (TNA) Gold prices in India have risen to record or near-record levels, with the domestic bullion market seeing a sharp spike in the past several sessions. Latest reports show 24-karat gold trading around Rs 1.59 lakh to Rs 1.60 lakh per 10 grams, while 22-karat and 18-karat rates have also climbed sharply.
The rally has been driven by a mix of global uncertainty, weaker dollar trends and strong safe-haven buying, which has kept investors glued to bullion. Market reports also point to renewed demand as geopolitical tensions and expectations around interest-rate moves continue to support gold prices.
According to one market update, 24K gold touched Rs 1,59,270 per 10 grams on August 20, while another report showed Delhi prices at Rs 1,58,030 per 10 grams on August 23, up Rs 2,520 from the previous session. Another market tracker placed India’s 24K gold rate at Rs 1,60,620 per 10 grams, underlining how fast the metal has appreciated.
The sharp move has also lifted other purity categories, with 22K gold quoted at around Rs 1.46 lakh to Rs 1.47 lakh per 10 grams and 18K gold near Rs 1.19 lakh to Rs 1.20 lakh per 10 grams in recent updates. Traders say the sustained rise has made jewellery purchases more expensive for households, even as investors continue to treat gold as a hedge against volatility.
In the broader context, gold had already been trending higher through August, and several reports suggested that the metal had posted strong weekly gains on the back of weaker US yields and a softer dollar. For consumers, the latest surge means wedding and festive buying could become costlier if prices remain elevated in the coming days.