Gold Rates Hit 3-Month High: Gold Nears Peak With 17% Returns In 55 Days; Will 24K, 22K, 18K Set New Highs

Gold rates in India have continued to rally in the past five days to breach above the Rs 1.63 lakh mark in 10 grams. The 999-purity gold is racing to hit Rs 1.64 lakh, which will bring it closer to its peak. In the current market for gold, all 24-carat, 22-carat, and 18-carat gold rates are at a three-month high. These carats have given nearly 17% gains in just 55 days, with 14% gains coming from 24 days of August alone. August is turning out to be the best month for yellow metal since the January peak. That said, will gold prices hit new highs before the month ends?

Gold Rates In India

On August 24, 2026, 24 carat gold price surged by Rs 8,800 in 100 grams to Rs 16,39,700 and 10 grams climbed by Rs 880 to Rs 1,63,970. Further, 22-carat gold rate jumped by Rs 8,000 to Rs 15,03,000 per 100 grams and is up by Rs 800 to Rs 1,50,300 per 10 grams. Meanwhile, 18 carat gold rate surged by Rs 6,100 to Rs 12,29,300 per 100 grams and rose by Rs 610 to Rs 1,22,930 per 10 grams.

The 1 gram gold rate rose by Rs 61 to Rs 88 on Monday to Rs 16,397 in 24 carat, at Rs 15,030 per 22 carat and at Rs 12,293 in 18 carat.

At current rates, 24-carat, 22-carat and 18-carat gold prices are up by 14% in India in August so far. This is the best monthly performance since January 2026.

Also, 24-carat gold is at 3-months high. It last neared Rs 1.63 lakh in mid-May 2026.

Gold Rates Jump 17% In 55 Days

The lowest gold rate of 2026 was seen on July 1st at Rs 1,40,780 per 10 grams in 24 carat. From this level, the 999 purity gold has given 16.5% returns to date. This is a gain of 55-days.

Let's suppose, you invested Rs 2 lakh on July 1st, you got 14.20 grams of gold. As of now, the gains on this investment is about Rs 32,940 on the investment, taking the corpus to Rs 2,32,940.

Gold Rate Is Less Than Rs 15,000 Away From Peak

The all-time high of 999 purity gold is at Rs 1,78,850 per 10 grams which was recorded on January 29, 2026. At the current level, 24-carat is Rs 14,880 away from touching its peak again.

Will 24K, 22K, 18K Gold Prices Rise To New Highs This Week?

"Gold has posted its third consecutive positive week, while Silver has delivered a strong weekly move, supported by a weaker U.S. dollar, softer yields and the U.S. Treasury's bond-buyback plans. Gold climbed to its highest level since early June in the previous session and is up around 3.6% this week. The weaker dollar has supported precious metals by making dollar-priced bullion relatively more affordable for overseas buyers," said analysts at SMC Global Securities in their weekly note.

A notable shift in Treasury yields has also improved the backdrop for non-yielding assets. U.S. Treasury Secretary Scott Bessent indicated that the government could further increase Treasury repurchases. The Treasury has already announced plans to double buybacks of longer-dated securities to at least $4 billion per operation over the next quarter.

Meanwhile, two Federal Reserve officials cautioned about the potential implications of Treasury debtmanagement changes for monetary policy. The next major driver for Gold will remain the Federal Reserve's policy path and its impact on interest rate expectations. Recent U.S. jobless claims slipped, indicating a relatively stable labor
market and giving the Fed room to remain focused on inflation.

Analysts noted that markets are currently pricing a 63% probability of rates remaining unchanged next month, versus a 37% probability of a hike. Geopolitical developments also remain supportive, with the U.S. signaling tougher sanctions on Iran. Technically, COMEX Gold has broken above 4,550 and is holding above this level. Sustained strength could open the way toward 4,750-4,800, while 4,400 remains an important support zone. Silver may move toward 72-75, with support near 64. On MCX, gold may trade in the 1,55,500-1,67,000 range, while Silver may remain in the 2,38,000-2,56,000 range in this week.

If MCX gold touches around Rs 1.67 lakh, then physical gold rate could range between Rs 1.67 lakh to Rs 1.68 lakh per 10 grams. Hence, if the bullish trend continues, a new peak is likely in next two weeks.

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