Crazy Cut In Gold Rates In India Today, August 29; 24K Gold Crashes Rs 28,900/100 Grams; Latest Gold Prices

Gold rates in India crashed steeply on Saturday, August 29, 2026, after global bullion markets touched their weekly low, following hawkish remarks from US Federal Reserve chair Kevin Warsh. Spot gold slipped below $4,450 and MCX gold fell below Rs 158,500 per 10 grams. A similar impact is seen in physical gold rates as well. Today, 24-carat gold crashed the steepest by Rs 28,900, while 22-carat and 18-carat gold prices dropped the lowest by Rs 26,500 and Rs 21,700 in cities like Mumbai, Hyderabad, Delhi, Kolkata, and Bangalore. However, the steepest decline is seen in Chennai by over Rs 32,000 in 100 grams.

Gold Rates In India Today:

In India, 10 grams gold price dropped by Rs 2,170 to Rs 2,890 across carats. The rate stood at Rs 158,240 in 24-carat, at Rs 1,45,050 in 22-carat and at Rs 1,18,680 in 18-carat.

The 100-grams gold crashed by Rs 21,700 to Rs 28,900 across the three purities, while 8-grams gold fell by Rs 1,736 to Rs 2,312. The price of 1 gram gold stood at Rs 15,824 per gram for 24-carat gold (99.9% purity), Rs 14,505 per gram for 22-carat gold (91.6% purity), and Rs 11,868 per gram for 18-carat gold.

Weight	24K Gold	Change	22K Gold	Change	18K Gold	Change
1 gram	₹15,824	↓ ₹289	₹14,505	↓ ₹265	₹11,868	↓ ₹217
8 grams	₹1,26,592	↓ ₹2,312	₹1,16,040	↓ ₹2,120	₹94,944	↓ ₹1,736
10 grams	₹1,58,240	↓ ₹2,890	₹1,45,050	↓ ₹2,650	₹1,18,680	↓ ₹2,170
100 grams	₹15,82,400	↓ ₹28,900	₹14,50,500	↓ ₹26,500	₹11,86,800	↓ ₹21,700

Gold Rates In Major Cities:

Gold Rates In Delhi:

24-carat gold price in Delhi plunged by Rs 28,900 to Rs 15,83,900 per 100 grams, while 10 grams gold dropped by Rs 2,890 to Rs 1,58,390. Further, 22-carat gold in this city declined by Rs 26,500 to Rs 14,52,000 per 100 grams and tumbled by Rs 2,650 to Rs 1,45,200 per 10 grams. In case of 18 carat, gold price crashed by Rs 21,700 to Rs 11,88,300 per 100 grams and plummeted by Rs 2,170 to Rs 1,18,830 per 10 grams.

Weight	24K Gold	Change	22K Gold	Change	18K Gold	Change
1 gram	₹15,839	↓ ₹289	₹14,520	↓ ₹265	₹11,883	↓ ₹217
8 grams	₹1,26,712	↓ ₹2,312	₹1,16,160	↓ ₹2,120	₹95,064	↓ ₹1,736
10 grams	₹1,58,390	↓ ₹2,890	₹1,45,200	↓ ₹2,650	₹1,18,830	↓ ₹2,170
100 grams	₹15,83,900	↓ ₹28,900	₹14,52,000	↓ ₹26,500	₹11,88,300	↓ ₹21,700

Gold Rates In Mumbai Vs Gold Rates In Hyderabad vs Gold Rates In Bangalore vs Gold Rates In Kolkata:

All 24-carat, 22-carat and 18-carat gold prices in Mumbai, Bangalore, Hyderabad, Kolkata and Pune are similar and recorded similar decline on Saturday.

In these cities, 24-carat gold price dropped by Rs 28,900 to Rs 15,82,400 per 100 grams, while 10 grams gold price plunged by Rs 2,890 to Rs 1,58,240. Additionally, the 22-carat gold price is down by Rs 26,500 to Rs 14,50,500 per 100 grams, while 10 grams gold is lower by Rs 2,650 to Rs 1,45,050. Lastly, the 18-carat gold price crashed by Rs 2,170 in 10 grams to Rs 1,18,680 and 100 grams gold nosedived by Rs 21,700 to Rs 11,86,800.

Weight	24K Gold	Change	22K Gold	Change	18K Gold	Change
1 gram	₹15,824	↓ ₹289	₹14,505	↓ ₹265	₹11,868	↓ ₹217
8 grams	₹1,26,592	↓ ₹2,312	₹1,16,040	↓ ₹2,120	₹94,944	↓ ₹1,736
10 grams	₹1,58,240	↓ ₹2,890	₹1,45,050	↓ ₹2,650	₹1,18,680	↓ ₹2,170
100 grams	₹15,82,400	↓ ₹28,900	₹14,50,500	↓ ₹26,500	₹11,86,800	↓ ₹21,700

Gold Rates In Chennai

Unlike the above-mentioned cities, the highest crash in gold prices was witnessed in Chennai. 24-carat gold crashed by Rs 32,200 to Rs 15,82,400 per 100 grams and slipped by Rs 3,220 to Rs 1,58,240 per 10 grams. Further, the 22-carat gold tumbled by Rs 29,500 in 100 grams to Rs 14,50,500 and declined by Rs 2,950 to Rs 1,45,050 per 10 grams. In case of 18-carat, 10 grams gold reduced by Rs 2,950 to Rs 1,22,750 and 100 grams gold corrected lower by Rs 29,500 to Rs 12,27,500.

What Is Impacting Gold Prices In India?

"Gold remained volatile this week, with profit booking taking MCX Gold from Rs 1,62,500 towards Rs 1,59,000 after a sharp three-week rally from around Rs 1,43,500 to Rs 1,62,500 during August. Gold declined nearly 2% this week as the Dollar Index regained strength above 99.15, prompting some consolidation at higher levels. Market participants will now closely watch Kevin Warsh's Jackson Hole speech for fresh cues on the Fed's rate outlook. Gold range: Rs 1,58,000-1,61,500, as per Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

In his Jackson Hole speech, US Federal Reserve's chair, Kevin Warsh warned that inflation is not meaningfully slowing and said policymakers need to be confident that underlying price pressures are easing; otherwise, the central bank still has "work to do." He reiterated that the Fed remains committed to returning inflation to its 2% goal, which he described as a "firm and fixed" target, and said financial conditions are not currently restrictive. His closely watched remarks provided greater clarity on his economic and policy views after criticism that his more limited communication strategy had left markets with little guidance on the near-term outlook. Markets responded by raising the probability of a September rate hike to near 50%, according to CME FedWatch, as per Trading Economics.

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