Gold Prices Hover Amid Geopolitical Tension: Bulls Watch for US Inflation Data as Iran Pledges Retaliation

Gold Prices Hover Amid Geopolitical Tension: Bulls Watch for US Inflation Data as Iran Pledges Retaliation​

Gold prices remained under intense scrutiny today as global markets awaited crucial U.S. inflation data and the upcoming speech from Fed Chair Kevin Warsh. While metal prices eased slightly after scaling three-month highs, persistent fears surrounding dollar debasement continued to provide a supportive backdrop for bullion. The trading session saw investors balancing inflationary concerns with heightened geopolitical risks involving Iran's pledged retaliation against tightened U.S. sanctions.

Global Market Outlook and Expert Analysis​

Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd. and president of IBJA, noted that the easing trend followed a period where gold and silver had scaled three-month highs. The bullion market maintains stability largely due to ongoing fears regarding dollar debasement fueled by the Federal Reserve's unclear inflation stance.

Adding tension to the volatile environment is Iran’s pledge of retaliation against existing U.S. sanctions, demonstrating confidence among its trading partners that they will not yield under external pressure. This instability contrasts with last week's rally, which was significantly driven by the Treasury Department moving to double its bond buyback operations. At market extremes, gold hit $4,696 (approximately ₹164,700), while silver touched $69.96 (approximating to ₹248,800).

Jewellers' Brand-Specific Gold Rates Across Major Metros​

Gold jewellery prices show slight variations across different brands depending on purity standards and applicable charges. Across major cities like Delhi, Mumbai, Chennai, Kolkata, Hyderabad, and Bengaluru, Tanishq maintained a consistent price for 22k gold jewellery at ₹15,055 per gram as of August 25, 2026.

Leading competitors such as Malabar Gold & Diamonds, Joyalukkas, and Kalyan Jewellers also reported the current price for 22k gold jewellery at these locations to be ₹15,010 per gram each. This indicates a marginal difference of ₹45 per gram between the brands' rates in these specific metro cities.

IBJA Indicative Retail Gold Rates Show Minor Shifts​

The India Bullion and Jewellers Association (IBJA) provided indicative retail selling rates for gold and silver across various purities for August 25, 2026. These rates include data from both the previous day's close and the morning open.

As per IBJA’s AM rates, the indicative selling price for 24K / Fine Gold (999) stood at ₹16,234 per gram, slightly increasing from yesterday’s PM rate of ₹16,215 per gram. Similarly, 20K gold was recorded at ₹14,449 per gram, up by ₹17 compared to August 24's price of ₹14,432 per gram.

Comparison of Gold Prices Across Purity and Metals​

The daily comparison shows a steady upward trend in the market for higher purity gold items across IBJA’s indicative rates. The 22K rate moved up by ₹192 to reach ₹15,845/g, while the 18K rate saw an increment of ₹15, settling at ₹13,150/g.

For jewellery buyers, it is critical to note that the silver (999) rate showed a slight decline by ₹1,945, with the AM price recorded at ₹2,43,446 per kg versus the previous day's price of ₹2,45,391 per kg. These indicative rates are intended for retail guidance and exclude making charges and 3% GST.