Gold Prices Decline Across Major Indian Cities on August 28

Gold prices registered a downward trend across several major cities in India on August 28. Across the country, the baseline retail price for 22-carat gold stood at ₹14,730 for 1 gram, marking a decrease of ₹290, while 8 grams of 22-carat gold dropped by ₹2,320 to reach ₹1,17,840.

A city-wise review indicates consistent downward adjustments in precious metal rates. In Coimbatore, Madurai, Thrissur, Vijayawada, and Visakhapatnam, 22-carat gold was priced at ₹14,650 per gram (down by ₹290) and ₹1,17,200 for 8 grams (down by ₹2,320). Correspondingly, 24-carat gold in these locations was recorded at ₹15,383 per gram (down by ₹304) and ₹1,23,064 for 8 grams (down by ₹2,432).

In Nagpur and Indore, 1 gram of 22-carat gold was traded at ₹14,700, reflecting a decrease of ₹290, with 8 grams priced at ₹1,17,600 after a ₹2,320 drop. The 24-carat gold in these two cities stood at ₹15,435 per gram (down by ₹305) and ₹1,23,480 for 8 grams (down by ₹2,440).

Surat, Jaipur, Vadodara, and Lucknow observed identical pricing structures for 22-carat gold at ₹14,754 per gram in Surat, Jaipur, and Vadodara (down by ₹290), and ₹1,18,032 for 8 grams. In Lucknow, Chandigarh, and Ludhiana, 1 gram of 22-carat gold was priced at ₹14,750 (down by ₹290), while 8 grams stood at ₹1,18,000 (down by ₹2,320). Kanpur also reported matching figures with 22-carat gold at ₹14,750 per gram and ₹1,18,000 for 8 grams.

For 24-carat gold in Surat, Jaipur, and Vadodara, the rate was ₹15,492 per gram (down by ₹304) and ₹1,23,936 for 8 grams (down by ₹2,432). Meanwhile, Lucknow, Chandigarh, Ludhiana, and Kanpur registered 24-carat gold at ₹15,488 per gram (down by ₹304) and ₹1,23,904 for 8 grams (down by ₹2,432).

In eastern and southern regional markets, Bhubaneswar and Patna noted 22-carat gold at ₹14,800 per gram (down by ₹290) and ₹1,18,400 for 8 grams (down by ₹2,320). The 24-carat gold in Bhubaneswar and Patna was recorded at ₹15,540 per gram (down by ₹305) and ₹1,24,320 for 8 grams (down by ₹2,440). Mysore reported 22-carat gold at ₹14,760 per gram (down by ₹290) and ₹1,18,080 for 8 grams (down by ₹2,320), with 24-carat gold priced at ₹15,498 per gram (down by ₹305) and ₹1,23,984 for 8 grams (down by ₹2,440).

"Fluctuations in bullion prices directly influence consumer purchasing behavior and retail market dynamics across various tiers of Indian cities. Tracking localized pricing trends helps businesses and retail buyers navigate commodity market volatility more effectively." — Dr. Shishir Gupta, Founder & CEO, StartupLanes