Mixed Gold Prices
Gold Prices Show Mixed Movement Across Various Indian Markets Today
Anonymous
Key Points
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Nadia’s 24-karat gold opened September at ₹1,56,760 per 10 grams, reached a monthly high of ₹1,56,760 and a low of ₹1,52,010 before settling at ₹1,55,520 on September 11.
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Sikar’s 24-karat rate was ₹1,54,450 per 10 grams on September 10, meaning the September 11 price represented a ₹1,220 increase; its September low was ₹1,52,160 per 10 grams.
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Karnataka’s gold market recorded pronounced volatility earlier in 2026: 24-karat gold ranged from ₹1,35,640 to ₹1,73,260 per 10 grams in March, ending that month at ₹1,48,270.
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In Chennai, the national decline translated to an approximate one-day reduction of ₹2,620 per 10 grams for 24-karat gold and ₹2,400 for 22-karat gold.
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Chennai’s 24-karat and 22-karat prices were broadly comparable with rates in Mumbai, Kolkata, Bengaluru and Hyderabad, while its 18-karat rate was notably higher than the roughly ₹11,467-per-gram level reported in several other major cities.
Indian gold prices split across regional markets on September 11, with rates rising in some cities while falling sharply in others. In Nadia and Sangli, 24-karat gold climbed ₹1,220 to ₹1,55,520 per 10 grams, while Sikar and Karnataka held steady at ₹1,55,670 per 10 grams. But Chennai recorded a steeper daily decline of ₹262 per gram for 24-karat gold, settling at ₹15,289 per gram—a ₹2,620 drop per 10 grams BusinessToday.
US Inflation Data Triggers Global Gold Selloff
Gold prices tumbled across India after stronger-than-expected US inflation figures boosted expectations for another Federal Reserve rate hike. IBJA said the slide reflected hawkish signals from the European Central Bank alongside rising US Treasury yields. Higher bond yields make gold less attractive because gold pays no interest AnandRathi.
Regional Price Divergence Driven by Local Taxes and Timing
The gap between cities reflects more than global trends. Domestic retailers cited variations in making charges, state-level taxes, and inventory timing as key drivers of regional swings. Chennai's sharper decline—₹262 per gram for 24-karat gold in one day—stood out even as northern cities like Nadia posted gains BusinessToday.
India's Tariff Hike Suppresses Physical Demand Ahead of Festivals
In May 2026, India raised gold import duties to 15%, doubling the prior rate. This move slashed legal imports by 58% in August and kept domestic prices at a premium WorldGoldCouncil. The higher duties dampen retail jewellery buying just as India enters its festive season, when gold demand typically surges. Analysts warn the tariff gap risks driving smuggled inflows WorldGoldCouncil.
Gold Loan Values Rise Despite Broad Price Pullback
Even as gold prices fell globally, sustained elevated domestic valuations increase the collateral value for gold loans. Lenders like Kosamattam Finance say borrowers can access higher loan amounts per gram of pledged gold. This cushions the gold loan market from broader price declines KosamattamFinance.
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