Gold rate today, August 28, 2026: 24 carat gold is ₹16,297 a gram and 22 carat is ₹14,939, both down ₹1 on the day and off their weekly high by ₹100 and ₹91 since Monday.
The 22 carat rate crossed back below ₹15,000 midweek and has not returned. It held above that level for three sessions from Monday through Wednesday, the first such stretch in the gold rate’s Indian tracking history, before settling back into the ₹14,900s as spot gold fell roughly $90 from Tuesday’s peak. Whether it returns to ₹15,000 next week depends on what Federal Reserve Chair Kevin Warsh says at Jackson Hole this morning – not on anything that happened in an Indian bullion market this week.
| Purity | Per gram (₹) | Per 10 g (₹) | Change on day | Change from Monday |
|---|---|---|---|---|
| 24 carat (99.9%) | 16,297 | 1,62,970 | -10 | -1,000 |
| 22 carat (91.6%) | 14,939 | 1,49,390 | -10 | -910 |
| 18 carat (75%) | 12,223 | 1,22,230 | -10 | -750 |
| Rates exclude GST, making charges and hallmarking. Monday’s (August 24) figures were 16,397, 15,030 and 12,298 a gram. The 24-carat fall from Monday is ₹100 a gram, or ₹1,000 per ten grams. | ||||
The week’s arithmetic is not complicated. Monday opened at ₹16,397 on the 24 carat rate, which was the highest in six weeks and the trigger for buyers who had been waiting on the sidelines to call an auction rather than a buying window. Gold pulled back across Tuesday, Wednesday and Thursday in single-rupee steps, then gave up another rupee on Friday. The cumulative effect is ₹100 erased from the weekly high – roughly 0.6 per cent of the metal’s value – which is not a correction, but the market choosing not to extend a move while it waits for a speech.
Gold Rate Today City-Wise: The Same Gap, Eight Cities
Delhi is ₹15 a gram above the national rate on 24 carat gold, Ahmedabad is ₹5 above it, and the remaining seven cities on the board are identical to the rupee. The pattern on August 28, 2026, is the same as it has been on every trading day this month.
| City | 24K (₹/10 g) | 22K (₹/10 g) | Against national |
|---|---|---|---|
| Delhi | 1,63,120 | 1,49,520 | +150 |
| Ahmedabad | 1,63,020 | 1,49,440 | +50 |
| Chennai | 1,62,970 | 1,49,390 | 0 |
| Mumbai | 1,62,970 | 1,49,390 | 0 |
| Kolkata | 1,62,970 | 1,49,390 | 0 |
| Bangalore | 1,62,970 | 1,49,390 | 0 |
| Hyderabad | 1,62,970 | 1,49,390 | 0 |
| Pune | 1,62,970 | 1,49,390 | 0 |
| Kerala | 1,62,970 | 1,49,390 | 0 |
| Seven of the nine cities on the board are identical to the rupee. Delhi’s ₹15 premium per gram on 24 carat sits under a tenth of one per cent of the base. Ahmedabad’s ₹5 is less than the GST on two grams. Neither is a reason to travel. | |||
Delhi’s ₹150 premium per ten grams is less than the making charge on a single chain link in most shops. For buyers in Chennai, Mumbai, Kolkata, Bangalore, Hyderabad, Pune and Kerala, the gold rate today is a single national number: ₹16,297 a gram on 24 carat, ₹14,939 on 22 carat. The city label in this context moves nothing that matters.
Gold Rate Today 22K: What Crossing Back Under ₹15,000 Actually Means
The 22 carat rate cleared ₹15,000 on Monday for the first time in the Indian gold rate’s tracked history and held there for three sessions. Thursday pulled it back to ₹14,940, and Friday took it to ₹14,939 – ₹61 below the level that briefly looked like a new floor.
For a buyer measuring the week’s move against Monday’s opening, the 22 carat gold rate today is ₹71 lower per gram. On ten grams, that is ₹710 on the metal component before making charges or GST. Hallmarking costs ₹45 for a single piece. The ₹710 reduction on a ten-gram purchase is real and worth noting for large-volume buying – bridal sets, investment-grade coins – but it sits against a metal that was trading below ₹13,000 a gram in January.
| Weight | 24K (99.9%) | 22K (91.6%) | 18K (75%) |
|---|---|---|---|
| 1 gram | ₹16,297 | ₹14,939 | ₹12,223 |
| 8 grams | ₹1,30,376 | ₹1,19,512 | ₹97,784 |
| 10 grams | ₹1,62,970 | ₹1,49,390 | ₹1,22,230 |
| 50 grams | ₹8,14,850 | ₹7,46,950 | ₹6,11,150 |
| 100 grams | ₹16,29,700 | ₹14,93,900 | ₹12,22,300 |
| Metal value at the national rate. Excludes GST, making charges, and hallmarking. Delhi adds ₹15 a gram on 24 carat; the other eight cities carry the national figure. The gap between 24 carat and 22 carat is the purity ratio: ₹16,297 × 0.916 = ₹14,928, within ₹11 of the published 22 carat figure. | |||
What the Till Price Looks Like on August 28
The number quoted here is the metal value. The number on a receipt will be different in every case, decided by piece and shop rather than by where the gold rate today lands.
A ten gram 22 carat purchase carries ₹1,49,390 of gold at today’s national rate. Add making charges – 8 per cent on a machine-made plain chain, 15 per cent on finished ornaments, up to 25 per cent on worked bridal pieces – then GST at 3 per cent on the metal and 5 per cent on making charges, and the range at the till runs from ₹1,66,421 to ₹1,93,087.
| Component | Making at 8% | Making at 15% | Making at 25% |
|---|---|---|---|
| Metal value | ₹1,49,390 | ₹1,49,390 | ₹1,49,390 |
| Making charges | ₹11,951 | ₹22,409 | ₹37,348 |
| GST on metal, 3% | ₹4,482 | ₹4,482 | ₹4,482 |
| GST on making, 5% | ₹598 | ₹1,120 | ₹1,867 |
| Total at the till | ₹1,66,421 | ₹1,77,401 | ₹1,93,087 |
| Premium over headline rate | 11.4% | 18.7% | 29.2% |
| Making charges vary by piece and by shop. GST is 3% on the metal value and 5% on making charges billed as a service. Hallmarking is charged separately at approximately ₹45 per piece. The spread of ₹26,666 between the plain-chain and bridal-set scenario is decided by the piece chosen, not by any movement in the gold rate. | |||
The ₹26,666 spread between a plain chain and a bridal set on the same ten grams is larger than six months of daily gold rate moves combined. It is the number that shops do not advertise and that no rate page in the country calculates.
What Moved Gold This Week
International spot gold peaked at $4,677 an ounce on Tuesday – its highest since mid-May – on a dollar that stayed soft and fiscal positioning that has supported the debasement trade throughout 2026. The full picture through Tuesday is in Wednesday’s rate article. From Tuesday’s peak, spot gold gave back roughly $90 across Wednesday, Thursday, and Friday morning, settling at $4,586.60 on Kitco’s Friday quote.
| Metric | Level | Change | Notes |
|---|---|---|---|
| Spot gold (bid), Friday | $4,586.60/oz | -$90 from Tue peak | Kitco, Friday morning |
| Spot gold, Tuesday | $4,677/oz | 3-month high | Highest since mid-May |
| Retail 24K, Friday | ₹16,297/gram | -1 on day, -100 from Mon | goodreturns. in tracker |
| Retail 22K, Friday | ₹14,939/gram | -1 on day, -91 from Mon | Goodreturns. in tracker |
| Spot gold, week change | n/a | -1.9% | $4,677 → $4,587 |
| The Indian tracker print follows international spot with a lag, adjusted for the rupee rate and import duties. MCX August gold futures expire this month; the front-month contract carries the near-term domestic price signal. | |||
The $90 retreat in spot gold is positioning, not a directional call. When a scheduled speech from a major central bank chair can move a market by several hundred basis points in twenty minutes, risk managers reduce gross exposure beforehand. What the week’s fall in spot gold reflects is not a changed view on gold’s trajectory but traders not wanting to hold a large position through a binary event. The metal’s structural support in 2026 – central bank buying, geopolitical demand, the Treasury’s long-end debt buyback programme, and the slow erosion of dollar reserve dominance – has not changed between Monday and Friday.
Jackson Hole and Next Week’s Rate
Warsh opens his keynote at the Jackson Hole Economic Symposium at 10 a.m. Eastern on Friday. He has spent his first three months as chairman systematically removing the forward guidance that markets had come to expect, saying publicly that the Federal Reserve is not constrained by market prices. Inflation is running at 3.4 per cent against the Fed’s 2 per cent target.
For the gold rate, the speech is this week. A tone more hawkish than markets expect – signalling that rates stay higher for longer, or that the Fed’s tolerance for services inflation is narrower than priced – sends the dollar up and real yields up, which compresses gold’s near-term upside and may extend this week’s pullback into the first days of next week. A speech that leans toward patience – acknowledging the cost of restrictive policy on employment or acknowledging that monetary tools cannot fix supply-driven inflation – does the reverse and could push spot gold back toward $4,650 quickly.
The ₹100 that came off 24 carat gold since Monday is four sessions of a market running its position to a manageable size before a binary event. It is not a verdict on gold’s trajectory. What it is, for a buyer watching the 22 carat gold rate cross back under ₹15,000, is a price that landed where it did because of a speech delivered in Wyoming this morning, not because of anything that happened in a jewellery market in India.
What This Page Cannot Tell You
Whether the rate above is the rate your jeweller quotes.
The national figure is a tracker print derived from bullion association quotes and the MCX futures curve, not a counter price collected from showrooms. Two trackers can publish figures that differ by ₹900 or more on the same morning, reflecting methodology and basis differences rather than errors in either. Local premiums, purity certification and the making charge on the specific piece will each move a buyer’s final bill more than any given day’s rate movement.
What can be said precisely today: 24 carat gold is ₹16,297 a gram nationally, down ₹100 from Monday’s ₹16,397 and down ₹1 from yesterday. The 22 carat gold rate today is ₹14,939, back below ₹15,000 after three sessions above it. Eight of the nine cities on the board are within ₹15 of each other. And the number that writes next Monday’s headline is being delivered this morning in Wyoming, not in any Indian bullion market.
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