Gold prices spike across India on Feb 21- Check latest 24K, 22K, 18K rates in your city

Gold prices in India edged higher on Saturday, 21 February, with 24 karat gold trading at ₹15,738 per gram, 22 karat gold at ₹14,426 per gram and 18 karat (999) gold at ₹11,804 per gram. The modest firmness follows Friday’s mild uptick, as domestic bullion markets continued to track mixed global cues and currency fluctuations.

Gold rates in major Indian cities (1 gram)

Why are gold prices rising in India?

• Currency movement

Gold prices in India are influenced by the rupee’s movement against the US dollar. A weaker rupee makes gold imports costlier, pushing domestic prices higher.

• Global market factors

International developments such as geopolitical tensions, economic slowdown fears and fluctuations in the US dollar play a key role in determining gold prices.

• Demand trends

Strong demand from investors and consumers supports higher gold prices, while weaker demand can lead to price corrections.

• Interest rate changes

Gold prices tend to fall when interest rates rise in major economies like the US, as investors prefer interest-bearing assets. Lower interest rates, however, usually favour gold.

• Government policies

At times, government measures aimed at controlling imports or managing the current account deficit can influence gold consumption and pricing.

• Impact of high prices

With gold rates rising sharply — and sovereign prices crossing ₹1 lakh — jewellery demand has shown signs of moderation, while investment interest remains strong.

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