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India’s gold demand improves as prices dip

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Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.

India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.

Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.

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National News

Gold Prices Hold Steady In India, Limited Movement In Domestic Retail Gold Prices

The Relatively Stable Domestic Rates Come After A Strong Recovery In International Gold Prices On Friday

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Gold prices in India remained largely steady on Saturday, September 19, following a strong rise in the previous trading session. According to the latest Goodreturns benchmark, 24K gold is priced at Rs 1,54,430 per 10 grams, while 22K gold stands at Rs 1,41,560 and 18K gold at Rs 1,15,830 per 10 grams.

All three purity categories recorded a marginal increase of Rs 10 per 10 grams compared with Friday’s benchmark, indicating limited movement in domestic retail gold prices.

MCX Gold Update

the MCX October 5, 2026 gold contract was quoted at Rs 1,54,263 per 10 grams, marking a gain of Rs 1,282, or 0.84%, from the previous close of Rs 1,52,981.

The contract opened at Rs 1,52,250 per 10 grams and recorded an intraday range of Rs 1,52,171 to Rs 1,54,600. The average price stood at Rs 1,53,817.88 per 10 grams, while open interest was reported at 8,101 contracts, down 4.01%.

The relatively stable domestic rates come after a strong recovery in international gold prices on Friday. Spot gold climbed to a one-week high, supported by easing inflation concerns following a decline in crude oil prices. The precious metal also remained resilient amid the latest interest-rate move by the US Federal Reserve.

With Indian commodity markets closed on Saturday, market participants are expected to track developments in global bullion markets and the previous session’s MCX gold performance for indications of the direction of prices when domestic trading resumes.

Gold prices continue to remain closely watched by jewellery manufacturers, retailers, bullion traders and consumers amid elevated domestic and international bullion rates.

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