Gold Rates Today Crash For First Time After 8 Days; Why 24 Carat, 22 Carat, 18 Carat Gold Prices Fell Today?

Gold rates in India crashed for the first time after eight consecutive days of gaining spree. On February 26, the decline in 24 carat, 22 carat and 18 carat ranged by Rs 1,600 to Rs 2,100 in 100 grams and was down by Rs 160 to Rs 210 in 10 grams. The downfall comes at a time when the dollar is weaker and trading below 98, while spot gold price traded broadly higher. The decline in physical gold prices mimics the movement of the MCX gold price, which is under pressure.

The correction seemed to be cautious investors navigating the tension between the US and Iran. MCX gold, which reclaimed above the Rs 1.61 lakh mark, saw a spike in profit booking despite spot gold hovering closer to touching a four-week high.

MCX Gold Price + Spot Gold Price

At the time of writing, MCX Gold price with April 2026 expiry, traded at Rs 1,60,794 per 10 grams, down by Rs 0.3%, which is near its day's low of Rs 1,60,516 per 10 grams.

As per Ross Maxwell, Global Strategy Operations Lead, VT Markets, the latest dip in gold prices this week reflects the market trying to balance macro headwinds and safe-haven demand. A stronger USD and near-term profit taking can cap short-term upside. However, structural drivers remain supportive.

On the other hand, spot gold price traded higher by 0.64% to around $5,198 per ounce, on the path to hit a four-weeks high.

Gold Rates In India:

24 Carat Gold Prices + 22 Carat Gold Prices + 18 Carat Gold Prices:

10 grams gold price dropped mildly by Rs 210 to Rs 1,61,680 in 24 carat, was down by Rs 200 to Rs 1,48,200 in 22 carat and slipped by Rs 160 to Rs 1,21,260 in 18 carat.

Meanwhile, 100 grams gold price plunged by Rs 2,100 to Rs 16,16,800 in 24 carat, tumbled by Rs 2,000 to Rs 14,82,000 in 22 carat and plummeted by Rs 1,600 to Rs 12,12,600 in 18 carat.

Gold Rates In India Performance In 10 Days:

The performance is of gold rates in 1 gram,

Date	24K Gold	24K Change	22K Gold	22K Change
Feb 26, 2026	₹16,168	▼ -₹21	₹14,820	▼ -₹20
Feb 25, 2026	₹16,189	▲ +₹11	₹14,840	▲ +₹10
Feb 24, 2026	₹16,178	▲ +₹43	₹14,830	▲ +₹40
Feb 23, 2026	₹16,135	▲ +₹207	₹14,790	▲ +₹190
Feb 22, 2026	₹15,928	- 0	₹14,600	- 0
Feb 21, 2026	₹15,928	▲ +₹191	₹14,600	▲ +₹175
Feb 20, 2026	₹15,737	▲ +₹88	₹14,425	▲ +₹80
Feb 19, 2026	₹15,649	▲ +₹229	₹14,345	▲ +₹210
Feb 18, 2026	₹15,420	- 0	₹14,135	- 0
Feb 17, 2026	₹15,420	▼ -₹224	₹14,135	▼ -₹205

Gold Rates In Top Cities: (Per 1 Gram)

City	24K (Pure)	22K (Standard)	18K (Jewelry)
Chennai	₹16,277	₹14,920	₹12,765
Mumbai	₹16,168	₹14,820	₹12,126
Delhi	₹16,183	₹14,835	₹12,141
Kolkata	₹16,168	₹14,820	₹12,126
Bangalore	₹16,168	₹14,820	₹12,126
Hyderabad	₹16,168	₹14,820	₹12,126
Kerala	₹16,168	₹14,820	₹12,126
Pune	₹16,168	₹14,820	₹12,126
Vadodara	₹16,173	₹14,825	₹12,131
Ahmedabad	₹16,173	₹14,825	₹12,131

What Is Impacting Gold Prices In India?

Market sentiments is weighted by geopolitical tensions and tariffs uncertainties. The US military forces have continued to build up in the Middle East ahead of US and Iran's much-impending nuclear talks in Geneva on February 27.

President Donald Trump has vowed to never allow Iran in holding nuclear weapons, as he fixed a deadline for Iran to agree on his terms. But Iran has retained its rights and expressed that they're not building nuclear weapons but do have the right to have their own nuclear technology. Neither is ready to budge, and both have warned of fatal reactions in the future course. Trump has warned to attack Iran and the latter vowed to retaliate back with full force.

Amidst this, Trump and his administration have continued to maintain its global tariff strategy, which raises concerns for global trade. As per latest reports, Trade Representative Jamieson Greer has revealed that Trump is likely planning to increase tariffs to 15% on global trade wherever he finds 'appropriate,' a move that comes after 10% global tariffs that he was pushed to impose after US supreme court's ruling.

While geopolitics and trade risks continue to swirl, traders are also feeling the heartburn of the likelihood of delayed rate cuts from US Federal Reserve. The FOMC emphasized inflation remained elevated during its minutes, and that has pushed rate cut expectations from Fed to September from earlier July and June policy.

Despite the latest fall, gold prices have recovered significantly from losses from early February. The lowest level for 24 carat and 22 carat in 10 grams was at Rs 153,170 and Rs 140,400 on February 2nd. The decline in gold prices stood in the range of 3% to 6% in the first two weeks, which significantly improved later on. As of now, gold prices are up nearly 1% across carats in February. And if the momentum continues, gold could record its 14-monthly gains.

What Makes Gold Attractive Amidst The Recent Uncertainties?

Explaining in detail, Rajeev Sharan, Head - Criteria, Model Development & Research, Brickwork Ratings, said that gold's renewed upswing after a healthy correction reflects a rebuilding of the geopolitical risk premium. Escalating US-Iran tensions and fresh uncertainty around US trade policy, mainly driven by the Supreme Court's 6-3 ruling on Trump's tariff framework and the president's push for a new global levy, are pushing investors back toward safe havens.

In this backdrop, Sharan added that gold is once again acting as insurance against tail risks in geopolitics and trade. Gold backed products should remain relatively resilient as long as the underlying collateral quality stays intact.

Gold Prices Prediction Ahead:

In Maxwell's opinion, central bank accumulation, geopolitical tensions, and sticky global inflation expectations continue to limit downside. If US yields stabilise rather than surge, gold can regain momentum and comfortably regain above $5,200 again, particularly if there are any other events that create risk-off sentiment. The most recent dip looks more like consolidation than a trend reversal.

As per Ponmudi R, CEO of Enrich Money, here's how gold prices will perform in India and globally going forward.

Spot Gold Price Outlook:

COMEX Gold is trading within the $5,100-$5,300 consolidation band following recent volatility. The broader uptrend remains structurally intact, with the ongoing sideways phase acting as a healthy pause.

Prices are sustaining above key moving averages, indicating underlying strength. Strong buying interest is evident in the $4,850-$5,000 support region. A sustained breakout above $5,500-$5,600 would be required to resume momentum toward fresh record territory.

MCX Gold Price Outlook:

MCX Gold futures are consolidating within the 1,55,000-1,65,000 band after correcting from record highs near 1,80,000-1,81,000. Short-term price action reflects stabilization with a mild upward undertone, while the broader structure remains supportive above long-term bases.

Strong demand is visible in the 1,45,000-1,55,000 region. A sustained hold above this zone, followed by a breakout beyond 1,65,000, could revive momentum toward 1,70,000-1,75,000, keeping the medium-term outlook constructive.

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