Gold Falls ₹800 In Delhi To ₹1.58 Lakh Per 10 Grams As Crude Surge, Geopolitical Uncertainty Weigh On Bullion

New Delhi, August 19, 2026: Gold prices in the national capital fell by Rs 800 to Rs 1,58,000 per 10 grams on Wednesday, as rising crude oil rates and ongoing geopolitical uncertainty dampened investor sentiment. The purity of 99.9 percent yellow metal had closed at Rs 1,58,800 per 10 grams the previous day. Silver also dropped, losing Rs 5,730 to reach Rs 2,35,000 per kilogram, including all taxes, according to the All India Sarafa Association.

Crude oil prices continue to put pressure on gold prices, as higher crude oil rates have led to increased uncertainty after the US-Iran ceasefire window expired without further negotiations, causing investors to remain cautious. Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, explained that the sharp increase in crude prices has added to concerns over inflation and the overall economic outlook, while the lack of fresh talks between the US and Iran has kept traders on edge.

Bullion traders await the Federal Reserve meeting minutes later in the day for additional information about the future interest-rate path, adding to the current market uncertainty. In the global market, spot gold rose nearly 1 percent to USD 4,361.76 per ounce, while silver remained steady at USD 63.33 an ounce. The day's developments highlighted a market caught between geopolitical uncertainty and surging energy costs, with gold's safe-haven appeal not translating into gains at home.