Gold prices in India reached a new milestone today as the 24 karat gold rate crossed ₹1,55,000 per 10 grams for the first time in calendar year 2026. The move comes on the back of sustained buying by global central banks, safe-haven demand driven by geopolitical tensions, and a rupee that has weakened against the US dollar over the past two weeks.
What Is Driving the Rally?
Analysts at major brokerages point to three key drivers. First, the US Federal Reserve has signalled a slower pace of interest rate hikes, which has made non-yielding assets like gold more attractive. Second, central banks in China, India, and several emerging economies have continued adding gold to their reserves. Third, the Indian rupee has depreciated by approximately 1.2% against the dollar over the past month, making imported gold more expensive in rupee terms.
What Does This Mean for Buyers?
For Indian consumers looking to buy jewellery, the current price environment means that a 10-gram 22K gold necklace will cost approximately ₹1,42,000 to ₹1,46,000 in metal value alone before making charges and GST are added. Experts suggest that buyers who need gold for upcoming weddings or festivals should consider purchasing in tranches rather than waiting for a price correction that may not materialise in the near term.
Use our gold price calculator to estimate the exact cost of any jewellery piece based on today's rate.