Gold Price Today: 22K and 24K Gold Rates Fall Sharply on September 28, 2026
Gold Price Today: Gold prices in India opened the week on a weaker note on Monday, September 28, 2026, as the precious metal came under pressure in both domestic and international markets. The latest retail data showed a noticeable decline in 24-carat and 22-carat gold prices, while international gold also suffered a sharp correction.
According to GoodReturns data cited by Indian Express, 24K gold was priced at around ₹15,017 per gram, while 22K gold stood at approximately ₹13,765 per gram on September 28. The 24K rate declined by ₹251 per gram from the previous day, while 22K gold fell by ₹230 per gram.
Another market update from NDTV Profit put the India-wide 24K rate at around ₹1,51,470 per 10 grams and 22K gold at approximately ₹1,38,848 per 10 grams, highlighting differences between data providers and retail-market benchmarks.
The decline comes as higher oil prices, stronger expectations of tighter US monetary policy, a stronger dollar and rising Treasury yields weigh on global bullion prices.
Gold Price Today in India
The latest retail figures show a clear decline in gold rates compared with the previous session.
| Gold Purity | Price Per Gram | Approx. Price Per 10 Grams |
|---|---|---|
| 24 Carat | ₹15,017 | ₹1,50,170 |
| 22 Carat | ₹13,765 | ₹1,37,650 |
| 18 Carat | ₹11,263 | ₹1,12,630 |
These figures are based on the GoodReturns retail rates reported by Indian Express on September 28. Actual jewellery-shop prices can differ depending on the city, jeweller, taxes, making charges and other applicable costs.
24 Carat Gold Price Today
The 24 carat gold price today is around ₹15,017 per gram according to the GoodReturns figures cited by Indian Express.
That translates to approximately ₹1,50,170 for 10 grams before any applicable additional charges.
The latest decline represents a significant daily correction. Gold had been trading at elevated levels earlier in September, but the market has faced increased selling pressure as expectations for higher US interest rates have strengthened.
Reuters reported on September 28 that international spot gold fell more than 3% and touched its lowest level in more than seven weeks. The metal was pressured by higher oil prices, inflation concerns, a stronger dollar and higher Treasury yields.
22 Carat Gold Price Today
The 22K gold rate today stands at around ₹13,765 per gram based on the latest GoodReturns data.
For 10 grams, the indicative price works out to around ₹1,37,650.
22K gold is widely used for jewellery in India because it combines a high proportion of gold with other metals that make the jewellery more durable.
However, the final amount paid by a jewellery buyer will normally be higher than the quoted gold rate because the bill can include making charges, taxes and other costs.
City-Wise Gold Price Today
Gold prices vary slightly between Indian cities because of local market conditions, jeweller pricing and other factors.
According to the September 28 data reported by Indian Express, the indicative rates were:
| City | 24K Gold/Gram | 22K Gold/Gram | 18K Gold/Gram |
|---|---|---|---|
| Delhi | ₹15,032 | ₹13,780 | ₹11,278 |
| Mumbai | ₹15,017 | ₹13,765 | ₹11,263 |
| Kolkata | ₹15,017 | ₹13,765 | ₹11,263 |
| Chennai | ₹15,017 | ₹13,765 | ₹11,535 |
| Bengaluru | ₹15,017 | ₹13,765 | ₹11,263 |
| Hyderabad | ₹15,017 | ₹13,765 | ₹11,263 |
| Pune | ₹15,017 | ₹13,765 | ₹11,263 |
| Vadodara | ₹15,022 | ₹13,770 | ₹11,268 |
These are indicative retail rates and can change during the day.
Why Is Gold Price Falling Today?
Several factors are behind the latest correction in gold.
1. Higher Oil Prices
Rising crude oil prices have become an important factor for global financial markets.
Higher oil prices can increase inflation expectations because energy costs influence transportation, manufacturing and consumer prices.
The current oil-market situation has therefore affected expectations about monetary policy, which in turn has put pressure on gold.
2. Expectations of Higher US Interest Rates
Gold does not generate interest income. Therefore, when interest rates and bond yields rise, investors can become more attracted to interest-bearing assets.
Reuters reported that the latest gold decline was linked to stronger expectations of tighter monetary policy as oil-driven inflation concerns increased.
This has become one of the biggest short-term factors affecting international bullion prices.
3. Stronger US Dollar
A stronger US dollar can create additional pressure on gold because international bullion is priced in dollars.
The recent rise in the dollar has therefore contributed to the decline in international gold prices.
4. Higher Treasury Yields
US Treasury yields have also moved higher, adding pressure to non-yielding assets such as gold.
When government bond yields become more attractive, some investors may reduce exposure to assets that do not pay interest.
5. Profit Booking
Gold had experienced a significant rally earlier in the year. After a prolonged rise, investors can book profits when market conditions change.
The September correction has therefore been influenced by both macroeconomic factors and changes in investor positioning.
International Gold Price Today
The global gold market also witnessed a sharp correction on September 28.
Reuters reported that spot gold fell 3.3% to around $4,146.51 per ounce at 9:25 a.m. ET, after touching its lowest level since August 5. US gold futures also declined about 3.3%.
The move represents a significant change from the very strong levels seen earlier in the year.
Market participants are now closely watching oil prices, inflation data, US monetary policy expectations and the dollar to assess where gold could move next.
MCX Gold Price Today
Domestic futures also came under pressure.
Mint reported that MCX Gold October futures were around ₹1,48,092 per 10 grams during early trading on September 28, while silver futures also declined.
Moneycontrol reported that MCX gold futures for October 5 delivery had closed the previous session at approximately ₹1,50,700 per 10 grams.
This indicates that domestic futures markets were already reflecting the pressure seen in global bullion.
Gold Price Trend in September 2026
Gold has experienced a volatile September.
Business Today data for Greater Mumbai showed that the 24K gold rate was around ₹1,56,760 on September 1 and approximately ₹1,52,670 on September 28. The publication described the overall September trend as falling.
Economic Times also reported that gold had corrected sharply during September after gaining around 9% in August, with the metal down nearly 8% during September at the time of its report. The correction was attributed to a more hawkish repricing of US monetary policy, persistent inflation concerns, higher oil prices and stronger-than-expected labour-market data.
This makes September an important month for understanding the changing direction of the gold market.
Gold Price Today vs Previous Levels
The latest data shows that gold remains substantially above many historical price levels despite the recent correction.
The market has moved through a period of exceptionally strong prices, followed by increased volatility.
For consumers, this means that a fall in the daily gold rate does not necessarily indicate that prices will continue falling. Gold can react quickly to changes in global economic data, central-bank policy and geopolitical developments.
Gold Jewellery Price and Gold Rate Difference
Consumers should remember that the gold price shown online is not necessarily the final jewellery price.
A jewellery bill can include:
- Gold value
- Making charges
- GST
- Wastage charges, where applicable
- Stone charges
- Other retailer-specific costs
For example, if the quoted 22K gold rate is ₹1,37,650 per 10 grams, a 10-gram jewellery item will not necessarily cost exactly ₹1,37,650.
The final bill depends on the jewellery design and the jeweller’s pricing structure.
What Is the Outlook for Gold?
The near-term direction of gold is likely to remain closely connected to global interest-rate expectations.
If inflation remains elevated because of higher energy prices, expectations for tighter monetary policy could continue to weigh on gold.
At the same time, geopolitical uncertainty can revive safe-haven demand and potentially provide support to bullion.
Moneycontrol noted that the next major test for gold could depend on incoming US economic data, while renewed tensions in the Gulf could also revive buying interest.
This creates a market environment in which gold could remain volatile.
Should You Buy Gold Today?
For jewellery buyers, the decision depends on the purpose and timing of the purchase. Consumers with an immediate wedding or festival requirement may focus more on the overall jewellery cost and making charges than trying to identify the exact daily bottom.
Investors should remember that gold prices can move in both directions. A sharp correction does not automatically mean prices cannot fall further, while a decline does not guarantee that the market will remain weak.
Those considering gold as an investment should also compare physical gold with alternatives such as gold ETFs and other regulated investment products, taking into account their respective costs and structures.
Important Things to Check Before Buying Gold
Before purchasing jewellery or physical gold, buyers should check:
- Purity: Confirm whether the product is 22K, 24K or another purity.
- Hallmark: Check the applicable hallmark and purity details.
- Net weight: Verify the actual gold weight.
- Making charges: Compare charges between jewellers.
- GST: Check the tax component separately.
- Buyback terms: Understand the jeweller’s policy.
- Invoice: Keep the detailed purchase invoice.
Gold Price Today: Key Highlights
The major developments in the gold market on September 28 are:
- 24K retail gold was around ₹15,017 per gram in GoodReturns data cited by Indian Express.
- 22K gold was around ₹13,765 per gram.
- Gold prices declined from the previous day.
- MCX gold futures also came under pressure.
- International spot gold fell more than 3% in early US trading.
- Higher oil prices increased inflation concerns.
- Expectations of tighter US monetary policy weighed on gold.
- A stronger dollar and higher Treasury yields added pressure.
- September has so far been a weak month for gold compared with August.
Conclusion
The gold price today in India is witnessing a sharp correction as global bullion prices come under pressure from higher oil prices, inflation concerns, a stronger US dollar and expectations of tighter monetary policy.
According to the latest GoodReturns data cited by Indian Express, 24K gold is around ₹15,017 per gram and 22K gold is around ₹13,765 per gram on September 28, 2026.
However, gold prices can vary between cities and jewellers, and the final jewellery bill will also include applicable taxes and making charges. Internationally, gold has also experienced a substantial decline, with Reuters reporting a more than 3% fall on Monday and a seven-week low.
For the coming sessions, investors will closely monitor crude oil prices, US inflation data, Federal Reserve policy expectations, Treasury yields, the dollar and geopolitical developments. These factors could determine whether gold stabilises after the recent correction or remains under pressure.