Gold Rate Today, August 12: Check 18, 22 and 24 carat gold prices in Chennai, Mumbai, Delhi, Kolkata and other cities

Gold prices in India saw fluctuations on August 12, 2026, with 24 carat gold valued at Rs 15,486 per gram, 22 carat gold at Rs 14,195 per gram, and 18 carat gold at Rs 11,614 per gram, according to Good Returns. These figures represent a rise of Rs 104, Rs 95, and Rs 77, respectively, over the previous day's rates. Despite a minor price dip due to international market panic and high tax rates, the ongoing Middle Eastern tensions and the prospect of conflict kept precious metal markets volatile.

Across major cities, gold rates remained consistent, with Chennai and Kolkata at Rs 15,491 and Rs 15,486 per gram for 24K gold, respectively, and Mumbai and Delhi at Rs 15,486 per gram. For 22K gold, Chennai and Mumbai were priced at Rs 14,200 per gram, while Delhi was slightly higher at Rs 14,210 per gram. 18K gold prices in each city were uniformly set at Rs 11,614 per gram.

US President Donald Trump downplayed the ongoing tensions with Iran, assuring reporters that conditions are stable and the US military maintains control over the Strait of Hormuz. However, US forces retaliated by targeting a Panama-registered cargo ship with two Hellfire missiles after it ignored warnings. In Iraq, Iranian forces conducted airstrikes, targeting facilities associated with the Komala Party and the Kurdistan Democratic Party of Iran (KDPI) in the Alana Valley of Erbil province.

Global crude oil prices hovered near multi-week highs, with Brent crude at approximately $87.80 per barrel and WTI crude at about $82.22 per barrel. While geopolitical tensions temporarily subsided following a 60-day truce negotiated by the US and Iran, continuous threats and attacks soon dismantled the agreement, leading to renewed military operations and volatility in energy markets.

Investors seeking stability turned to gold as a safe haven amid the geopolitical unrest, with domestic gold prices in India fluctuating daily based on global spot values, import taxes, and currency exchange rates.