On August 19, 2025, gold prices in India saw drops, with futures falling to a near two-week low, amid a slight increase in spot prices abroad.
According to GoodReturns, 24-karat gold was priced at ₹10,075 per gram: a decrease of ₹43 from the previous day. While 22-karat gold dropped to ₹9,235, the price of 18-karat gold eased to ₹7,556—showing similiar reductions of ₹40 and ₹33 respectively.
ALSO READ | Indians lost money over the last month on equities, but gold soared
Hyderabad, in particular, saw a steeper drop: 10g of 24-karat gold fell to ₹1,00,750, while 22-karat dropped to ₹92,350.
The Multi Commodity Exchange (MCX) also saw a similar decline, where October futures for gold traded at ₹99,860 per 10g, slipping below the key ₹1 lakh threshold earlier this week.
This development, which has happened for the first time in nearly two weeks, is significant because it might be an indicator of bearish momentum, looking forward.
Analysts attributed this fall to fading safe-haven inflows of gold amid a possible ease in geopolitical tensions, especially with US President Donald Trump's reportedly positive meeting with his Ukrainian counterpart Volodymyr Zelenskyy and various European Union leaders.
Preparations for bilateral Russia-Ukraine negotiations, as well as a trilateral conversation including Trump, are currently underway.
Notably, not all signals were bearish. Angel One reported minor upticks in certain cities, with 24-karat prices edging higher in line with international spot gold prices, which traded at $3,338.06 per ounce, up by 0.16 per cent.
This suggests that global cues are still offering some floor to domestic prices, even as futures markets remain cautious.
This difference between global spot gains and fluctuations in local rates highlights India’s sensitivity to demand-side factors.
This comes despite the advent of the festival season (Ganesh Chaturthi, Navaratri, and Diwali) and wedding demand in a few weeks.
Looking ahead, analysts expect gold to trade in the ₹99,000–₹1,01,500 per 10g range in the near term.