Gold prices dropped more than Rs 9,000 per 10 grams today. One, this steep correction is after the Union Budget 2026 presentation while the other, a massive global selloff driven by a surging US dollar and changing Federal Reserve expectations.
Current Gold Rates
Currently, retail prices for gold are at the adjustment rate for all major carats. The decline of 24-carat gold is Rs 9,050, while 22-carat gold is Rs 8,300 from this quantity.
| Gold Purity | Price per 1 Gram | Price per 10 Grams | Daily Change (10g) |
| 24K (Pure Gold) | Rs 15,153 | Rs 1,51,530 | ▼ Rs 9,050 |
| 22K (Standard Gold) | Rs 13,890 | Rs 1,38,900 | ▼ Rs 8,300 |
| 18K (Jewellery Gold) | Rs 11,365 | Rs 1,13,650 | ▼ Rs 6,790 |
24K Gold Rates (per 10g) Wise City
After accounting for localized taxes, octroi and transport expenses, prices reflect slight variances.
- Delhi: Rs 1,51,680
- Mumbai: Rs 1,51,530
- Chennai: Rs 1,52,180
- Bangalore: Rs 1,51,530
- Hyderabad: Rs 1,51,530
- Kolkata: Rs 1,51,530
Why are Gold Prices Crashing?
A number of macroeconomic factors coalesced into the precipitate of this great collapse in price:
- Post-Budget Correction: The Finance Minister’s announcement of abolishment of capital gains tax on Sovereign Gold Bonds (SGB) and the absence of punitive new import increases eased panic back home.
- The Trump-Warsh Effect: A strong dollar raises international gold (priced in USD), reducing demand.
- Profit Booking: After gold hit its record heights of Rs 1.80 lakh in late January, investors started selling positions and booking profits in a massive “long liquidation” on MCX.
Analyst Note: “Overbought heavily. This correction is a very big retracement but still high volatility. Investors have to start settling into the Rs 1.45 lakh range, before coming in in bulk.”
Silver Also Takes One Hit
The price of silver followed suit, falling to around Rs 3.50 lakh per kg, retail down from over Rs 4 lakh.
