Gold continues to be a preferred investment for many Indian households, particularly as a hedge against inflation and rising living costs.
Gold prices have fallen across India on Monday (August 31), bringing a downward shift in costs for retail buyers across all major purity levels.
A single gram of 24-karat gold now stands at ₹15,677, representing a decline of ₹147 from previous trading. For 22-karat gold, the rate dropped by ₹135 to stand at ₹14,370 per gram. The 18-karat gold option also saw its price fall by ₹83, settling at ₹11,785 per gram. For larger transactions, an eight-gram purchase of 24-karat costs ₹1,25,416, while 22-karat stands at ₹1,14,960 and 18-karat is priced at ₹94,280. Standard ten-gram purchases of 24-karat gold are priced at ₹1,56,770, which represents a decline of ₹1,470. For those purchasing 100 grams, 24-karat gold stands at ₹15,67,700, 22-karat is at ₹14,37,000, and 18-karat is priced at ₹11,78,500.
Also Read
Local prices show variation across different Indian cities. Delhi recorded the highest rates in the country, where a gram of 24-karat gold costs ₹15,838, 22-karat costs ₹14,519, and 18-karat is ₹11,882. Chennai buyers are seeing prices of ₹15,823 for 24-karat and ₹14,504 for 22-karat, alongside an 18-karat price of ₹12,274. In Ahmedabad and Vadodara, rates stand at ₹15,828 for 24-karat, ₹14,509 for 22-karat, and ₹11,872 for 18-karat gold. Meanwhile, residents in Mumbai, Kolkata, Bangalore, Hyderabad, Pune, and Kerala are all paying the standard national average of ₹15,677 for 24-karat, ₹14,370 for 22-karat, and ₹11,785 for 18-karat gold.
Futures contracts crash on commodity exchange
This retail drop was accompanied by a sharp plunge on the Multi Commodity Exchange (MCX), where gold and silver prices fell by up to 2% during Monday's morning deals. The downward movement is attributed to heavy profit-taking amid weak global cues. October gold futures dropped by more than ₹2,600, sliding to ₹1,53,640 per 10 grams. Meanwhile, silver contracts for September delivery took a hit, plunging by over ₹4,200 to settle at ₹2,32,501 per kilogram in early deals.
Published: 31 Aug 2026, 09:49 am IST
Related Topics
Disclaimer: Kindly avoid objectionable, derogatory, unlawful and lewd comments, while responding to reports. Such comments are punishable under cyber laws. Please keep away from personal attacks. The opinions expressed here are the personal opinions of readers and not that of Mathrubhumi.