Gold Rate Today: The gold price in India today stands at Rs 16,309 per gram for 24 carat gold,  Rs 14,950 per gram for 22 carat gold and Rs 12,232 per gram for 18 carat gold, as per Good Returns.

The price of 24K gold today, August 21, 2026, in India, stands at Rs 16,309 per gram, reflecting an increase of Rs 152 over that on August 21.

Similarly, the price of 22K and 18K gold currently stands at Rs 14,950 per gram and Rs 12,232 per gram for 18 carat gold, marking an increase of Rs 140 and Rs 114 respectively over the prices on August 21.

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Gold and silver prices took a short dip when international panic subsided, despite high 15% tax rates. However, ongoing turmoil in the Middle East has kept precious metal markets fluctuating day to day.

City Wise Rate

Tensions in West Asia

U.S. President Donald Trump declared that Washington currently treats the Strait of Hormuz as American territory, claiming Tehran wants an agreement but remains unprepared to accept acceptable terms. In response, Iranian Foreign Ministry spokesman Esmaeil Baghaei condemned the newest U.S. economic sanctions, labelling them a “declaration of war” directed at all sovereign nations.

Omani and Iranian foreign ministers held discussions to explore resuming talks over a bilateral agreement regulating maritime transit through the Strait of Hormuz. Meanwhile, Israeli strikes hit several locations across southern Lebanon, including the town of al-Mansouri in Tyre, Deir Siryan, and parts of the Bint Jbeil district in Nabatieh; despite an active ceasefire.

Global crude prices held high on 21 August, driven by ongoing tensions between the U.S. and Iran that threaten Middle Eastern oil supplies. As of now, International crude oil benchmarks stand at $86.64 per barrel for WTI Crude and $94.39 per barrel for Brent Crude. 

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The latest surges in global oil prices stem largely from unresolved uncertainty surrounding the timeline for restarting halted regional crude extraction and export operations. Across the last five sessions, Brent crude recorded a gain exceeding 7% while WTI climbed by over 8%, pushing both international benchmarks up to price levels not seen since July 24. Market participants remain deeply uneasy over possibilities that prolonged regional warfare could drastically disrupt energy exports flowing from key Middle Eastern oil powerhouses, including Saudi Arabia, Iraq, the UAE, and Kuwait.

Regional military aggression experienced a brief lull after a surprising 60 day agreement mediated by the United States and Iran in mid-June 2026, aimed at halting military strikes and protecting vulnerable commercial shipping lanes. However, persistent missile strikes and continuous threats against merchant vessels quickly dismantled the fragile peace deal, compelling both governments to discard the treaty and reignite open military conflict.

With formal diplomacy collapsing completely, widespread turmoil across energy markets led investors to flee into gold to protect their capital against escalating international conflict. Local bullion markets mirrored this macroeconomic stress, as domestic gold values fluctuated continuously based on global spot prices, government tariff policies, and foreign currency movement.