Gold Price Surges ₹2,000: Retailers Drive Demand

On Tuesday, August 18, 2026, the price of gold in Delhi experienced a significant surge of ₹2,000, reaching ₹1.58 lakh per 10 grams. This upward trend for the yellow metal, specifically 99.9 per cent purity, extended for a second consecutive session, attributed to heightened purchasing activity from retailers and stockists. Silver followed suit, advancing by ₹730 to settle at ₹2.40 lakh per kilogram, after a period of stability.

Globally, however, spot gold traded marginally lower at $4,394.57 per ounce, while silver saw a more pronounced drop of over 1 per cent. Analysts noted that crude oil's rebound due to supply concerns in West Asia influenced gold prices. The expiring US-Iran ceasefire agreement and ongoing naval blockades contributed to oil price volatility.

Despite geopolitical tensions, the broader investment landscape provided support for bullion. Gold-backed exchange-traded fund holdings saw an increase, and analysts remain constructive on precious metals. Expectations of softer Federal Reserve rate policies, continued central bank purchases, and steady investment demand are supporting factors. The upcoming Federal Open Market Committee meeting minutes and the Jackson Hole Symposium will be closely watched for insights into the US monetary policy outlook, potentially leading to continued near-term volatility for gold and silver.