Gold Rate in India Today, August 28, 2026: 24K Gold Tumbles ₹3,160 per 10 gm on Friday

New Delhi, August 28: Gold prices in India fell sharply on Friday morning, extending the week’s retreat with the steepest single-session drop yet. Today’s national rate for gold stands at ₹1,59,820 per 10 grams for 24 karat gold (99.9% purity), ₹1,46,500 per 10 grams for 22 karat gold (91.6% purity), and ₹1,19,870 per 10 grams for 18 karat gold (75% purity). On a per-gram basis, that works out to ₹15,982 for 24K, ₹14,650 for 22K, and ₹11,987 for 18K gold, while a full kilogram of 24K gold is now valued at approximately ₹1,59,82,000. 

The move marks a sharp decline of ₹3,160 for 24K gold, ₹2,900 for 22K gold, and ₹2,370 for 18K gold per 10 grams over Thursday’s closing levels of ₹1,62,980, ₹1,49,400 and ₹1,22,240, respectively — equivalent to a per-gram fall of ₹316, ₹290 and ₹237, or close to 1.94%. The drop is more than four times the size of Thursday’s own ₹760 decline and marks the sharpest single-session fall gold has recorded in India all week, deepening the retreat from Monday’s sharp rally. 

Gold has long been considered a reliable hedge against inflation, and the sharp pullback over the past three sessions is unlikely to change that view among investors, who continue to treat the metal as an important part of a diversified portfolio during periods of global uncertainty. Goodreturns provides gold prices in India for informational purposes only; these rates are updated daily and sourced from reputed jewellers across the country. Buyers looking for exact pricing can use the Gold Rate Calculator to work out the final cost, including making charges and GST, before heading to a jewellery counter. 

Dealers attributed Friday’s steep fall to a broad-based sell-off in global spot gold prices, driven by profit-booking after last week’s rally and a firmer US dollar overnight. Easing concerns over the US-Iran standoff and reduced safe-haven demand also appear to have prompted investors to book gains, with traders describing Friday’s move as the clearest signal yet that gold’s rally has run out of steam for now, even as Indian equity benchmarks traded firmer through the morning session. 

Physical demand at the retail level held up despite the sharp fall, dealers said, with the ongoing wedding and festive season in several parts of the country continuing to support jewellery counter footfall. Market watchers noted that three consecutive days of falling prices, capped by Friday’s steep drop, could draw in fresh retail buying over the weekend as gold approaches its most affordable level in over a week. 

City-Wise Gold Rates on Friday 

Gold rates across India’s major cities largely mirrored the national trend on Friday, with most markets quoting identical rates to the national average across all three purity categories. Mumbai, Kolkata, Bangalore, Hyderabad, Kerala and Pune are all pricing 24K gold at ₹1,59,820 per 10 grams, 22K gold at ₹1,46,500 per 10 grams, and 18K gold at ₹1,19,870 per 10 grams — in line with the national rate. Delhi continues to command the highest 24K and 22K gold rates among the ten cities, with 24K gold priced at ₹1,59,870 per 10 grams, a premium of ₹50 over the national average. The decline over Thursday was uniform at ₹3,160 per 10 grams for 24K gold and ₹2,900 per 10 grams for 22K gold across all ten cities, keeping relative premiums intact. 

Vadodara and Ahmedabad are quoted at the same premium as Delhi, with 24K gold priced at ₹1,59,870 per 10 grams in both cities too. Chennai stands out for its 18K pricing, coming in at ₹1,24,200 per 10 grams — a significantly wider gap of about ₹4,330 above the national 18K rate, even as its 24K and 22K rates match the national average exactly. Chennai’s 18K gold also fell the most of the ten cities on Friday, down ₹2,900 per 10 grams from Thursday, while most other cities recorded a smaller uniform decline of ₹2,370 per 10 grams in 18K gold. Delhi was the sole exception, easing by a comparatively smaller ₹2,270 per 10 grams in 18K gold, which widened its 18K premium over the national rate from ₹15 to ₹25 per gram — a divergence that reflects local market conventions around 18K jewellery pricing rather than any difference in the underlying metal cost. 

24K Gold — 10 Major Cities (per 10 gm) 

Source: goodreturns.in/gold-rates 

22K Gold — 10 Major Cities (per 10 gm) 

Source: goodreturns.in/gold-rates 

18K Gold — 10 Major Cities (per 10 gm) 

Source: goodreturns.in/gold-rates 

Retail buyers are reminded that quoted bullion rates are indicative, and actual billed prices at jewellery counters will vary once making charges, wastage and applicable GST are added on top of the base metal value.  

Investors who are looking to diversify beyond physical gold can also explore the list of Gold ETFs in India, which track bullion prices without the need to store physical metal: https://hdfcsky.com/etf/gold-etf 

Market watchers said Friday’s sharp fall, the steepest of the week, points to gold correcting more meaningfully after Monday’s rally rather than simply pausing for breath as it did earlier in the week. With volatility still elevated and US-Iran tensions unresolved, dealers said the coming week will be key to determining whether this is a healthy correction or the start of a deeper pullback, and advised buyers to track rates closely rather than assume today’s lower levels will hold. 

Jewellery Stocks Today 

Shares of listed jewellery companies were broadly higher around 9:40-10:10 am on Friday even as gold prices fell sharply, with all four major names — Titan Company, Kalyan Jewellers India, Thangamayil Jewellery and PC Jeweller — trading in the green. Kalyan Jewellers India led the gains among the group. Trading was still underway through the morning session at the time of writing.