Gold Prices Decline Across Major Indian Cities on August 31

NEW DELHI: Gold prices declined across most major metropolitan cities in India, according to market data released on August 31. The downward movement affected both 22-carat and 24-carat variants across multiple commercial hubs.

Nationwide, the price for 1 gram of 22-carat gold stood at ₹14,450, registering a decrease of ₹135. Consequently, 8 grams of 22-carat gold dropped by ₹1,080 to trade at ₹1,15,600.

In Delhi, 22-carat gold was priced at ₹14,470 for 1 gram (down by ₹135) and ₹1,15,760 for 8 grams (down by ₹1,080). Meanwhile, 24-carat gold in the capital was recorded at ₹15,194 for 1 gram, down by ₹141, and ₹1,21,552 for 8 grams, reflecting a decrease of ₹1,128.

Financial capital Mumbai mirrored the trend, with 22-carat gold falling to ₹14,420 per gram (down by ₹135) and ₹1,15,360 for 8 grams (down by ₹1,080). The 24-carat gold in Mumbai decreased by ₹142 to ₹15,141 per gram, while 8 grams fell by ₹1,136 to ₹1,21,128.

In Kolkata, 1 gram of 22-carat gold was priced at ₹14,520 (down by ₹135), and 8 grams stood at ₹1,16,160 (down by ₹1,080). The 24-carat variant in Kolkata dropped by ₹142 to ₹15,246 per gram, and 8 grams declined by ₹1,136 to ₹1,21,968.

Southern markets also observed a downward correction. In Chennai, 22-carat gold traded at ₹14,370 per gram (down by ₹135) and ₹1,14,960 for 8 grams (down by ₹1,080). Chennai's 24-carat gold dropped by ₹141 to ₹15,089 per gram and by ₹1,128 to ₹1,20,712 for 8 grams. Hyderabad recorded identical rates of ₹14,370 for 1 gram of 22-carat gold and ₹15,089 for 1 gram of 24-carat gold.

In Bengaluru, 22-carat gold was priced at ₹14,480 per gram (down by ₹135) and ₹1,15,840 for 8 grams (down by ₹1,080). The 24-carat gold in Bengaluru decreased by ₹142 to ₹15,204 per gram, while 8 grams went down by ₹1,136 to ₹1,21,632.

Pune reported prices similar to Mumbai, with 22-carat gold at ₹14,420 per gram (down by ₹135) and 24-carat gold at ₹15,141 per gram (down by ₹142). In Ahmedabad, 22-carat gold was marked at ₹14,474 for 1 gram (down by ₹135) and ₹1,15,792 for 8 grams (down by ₹1,080). The 24-carat gold in Ahmedabad stood at ₹15,198 per gram, registering a decline of ₹141.

"Fluctuations in bullion prices are a routine part of commodity market cycles. For businesses and consumers monitoring precious metals, tracking these regional adjustments across major urban centers helps in understanding immediate retail trends and local pricing variations." — Dr. Shishir Gupta, Founder & CEO, StartupLanes