Gold Rate In India SOAR After Rs 31,600 CRASH: Know 24K, 22K, 18K Gold Prices In Your City: August 22 Outlook

Gold rates in India climbed sharply on August 21, after 11 days of falling. From August 9th to August 20th, the 24 carat gold price in 100 grams plunged by a whopping Rs 31,600 and 10 grams price dropped by Rs 3,160. On August 22, gold prices will be driven by the upcoming speech of US Federal Reserve's chair Jerome Powell at the Jackson Hole conference scheduled later in the day.

Investors will eye rate cut probability through Powell's speech. Experts are factoring in a rate cut in the September or December policy from the Fed.

Gold Rates In India:

On August 21, 100 grams of gold surged by Rs 6,000 in 24 carat to Rs 1,007,500 and by Rs 5,000 in 22 carat to Rs 923,000.

While the 10 grams gold price climbed by Rs 600 to Rs 100,750 in 24 carat and was up by Rs 500 to Rs 92,300 in 22 carat. This comes after gold prices continued to fall from August 9th to 20th.

On August 20th, the price of 100 grams of gold crashed by a whopping Rs 6,000 in 24 carat. This comes after 100 grams of gold in 24 carats dropped by Rs 4,300 on August 19, after prices were unchanged on August 18 and August 17. However, the price of 100 grams of gold plunged by Rs 600 on August 16, followed by a decline of Rs 1,100 on August 15. Gold was unchanged again on August 14.

Not just that, the price of 100 grams of gold dipped by Rs 500 on August 13, while crashing by Rs 8,800 on August 12 and by Rs 7,600 on August 11. Prior to this, the 100 grams gold price was unchanged on August 10, but tumbled by Rs 2,700 on August 9.

Cumulatively, from August 9 to 20, the fall was to the tune of Rs 31,600 in 100 grams of 24 carat gold. 10 grams of gold was down by Rs 3,160.

Gold Prices In Your City:

Gold Rates In Chennai:

Gold Rates In Hyderabad:

Gold Rates In Bangalore:

Gold Rates In Mumbai:

Gold Rates In Delhi:

MCX Gold Price + MCX Silver Price

MCX gold price with October 2025 expiry stood at Rs 99,405 per 10 grams, down by Rs 30 after market hours of August 21. The bullion ranged from Rs 98,915 to Rs 99,595 per 10 grams.

Meanwhile, MCX silver price with September 2025 expiry closed at Rs 113,744 per 1kg, which was up by Rs 38, outperforming gold. Silver ranged from Rs 112,020 to Rs 113,845 per 1 kg on August 21.

Gold & Silver Prices Outlook:

"Gold prices traded in a range as market participants awaited Powell's speech at Jackson Hole on Friday evening, with prices holding near $3338 on COMEX and around Rs 99,250 in domestic markets, reflecting a largely range-bound session. Investors remained cautious ahead of key policy cues, with the market seeking clarity on the Fed's stance toward rate cuts," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

On the technical front, he added, " immediate support is seen near Rs 98,500, while resistance is placed at Rs 1,00,000, suggesting consolidation until fresh triggers emerge."

Furthermore, Darshan Desai, CEO - Aspect Bullion & Refinery said, "Gold prices are currently consolidating at elevated levels as investors turn their attention to the highly anticipated Jackson Hole Symposium, which kicks off today. Market participants are closely watching for comments from Federal Reserve Chair Jerome Powell, who is scheduled to speak on Friday. Any signals of a dovish stance could support further gains in bullion. With expectations growing for a potential Fed rate cut in September, any dip in gold is likely to attract renewed buying interest."

Spot Gold Price + Spot Silver Price

Spot Gold extended its recent losses to around $3,330 per ounce on Friday, holding within a tight range as traders avoided major moves ahead of Fed Chair Powell's remarks at Jackson Hole, which may offer signals on the US policy outlook. While Spot Silver held firm above $38 per ounce on Friday after two consecutive sessions of gains, as per Trading Economics.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.