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

On August 18, 2026, the gold rate in India witnessed fluctuations across various cities. The price of 24 carat gold was recorded at Rs 15,589 per gram in all major cities - Chennai, Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Pune, Vadodara, and Ahmedabad. For 22 carat gold, the rates were Rs 14,290 per gram in Chennai, Mumbai, Delhi, Kolkata, Bangalore, Hyderabad, Pune, Vadodara, and Ahmedabad. Meanwhile, the price of 18 carat gold was Rs 11,692 per gram in all these cities.

The increase in gold prices was attributed to ongoing tensions in West Asia and global economic uncertainty. The absence of an extension to the memorandum of understanding with Iran led to a rise in gold prices. Additionally, the Islamic Revolutionary Guard Corps denied claims made by U.S. President Donald Trump regarding ongoing negotiations with Tehran.

The country's annual inflation rate reached 66 percent, reflecting the impact of global sanctions and heavy expenditures related to regional conflicts. Oil prices also saw a rise, with Brent crude hovering around $91.22 per barrel and U.S. crude near $85. The geopolitical instability and concerns over maritime traffic through the Strait of Hormuz continued to influence global supply and drive up prices.

Despite a brief respite from hostilities following an unexpected 60-day pact between the United States and Iran, missile attacks and dangers to commercial shipping routes quickly dismantled the fragile agreement. As the diplomatic channels collapsed, investors turned to gold as a reliable asset amidst the international turmoil. The domestic precious metal trade in India saw daily fluctuations in gold prices due to international spot benchmarks, national import duties, and foreign exchange rates.