Gold Price Today (October 4): Why Is Gold Price Falling in India? Check Reasons Behind Recent Gold Rate Decline as Dollar, US Yields & Fed Outlook Weigh on Bullion

Gold Price Today (October 4): Gold prices in India remained largely unchanged on Sunday after a volatile week that saw the precious metal decline. The latest retail rates show 24-carat gold at around ₹1,49,180 per 10 grams, while 22-carat gold is around ₹1,36,750 per 10 grams. However, the key question for buyers and investors is why gold prices have recently come under pressure.  

Gold Price Today in India: What Are 24K and 22K Rates?

According to the latest retail gold-rate data, 24K gold is priced at approximately ₹14,918 per gram or ₹1,49,180 per 10 grams in India. The 22K rate stands at about ₹13,675 per gram or ₹1,36,750 per 10 grams, while 18K gold is around ₹1,11,890 per 10 grams. Rates can vary between cities and jewellers.  

In Delhi and Lucknow, for example, some rate trackers show 24K gold at about ₹1,49,330 per 10 grams, with 22K gold at ₹1,36,900 per 10 grams. This difference highlights why consumers should check the rate applicable to their city and jeweller before making a purchase. 

You Might Be Interested In

Why Is Gold Price Falling in India?

The recent decline in Indian gold prices is closely linked to movements in the international bullion market. Reuters reported on October 2 that spot gold fell 0.9% to around $4,140.06 an ounce, while gold was heading for a weekly decline of about 3.4%. The report cited a stronger US dollar and elevated US Treasury yields as important pressures on bullion.  

Gold does not pay interest, so higher bond yields can make interest-bearing assets comparatively more attractive. A stronger US dollar can also weigh on gold because the metal is globally priced in dollars.

Strong US Dollar Weighs on Gold

One of the major factors behind the recent weakness has been the US dollar. Reuters reported that the dollar was headed for a weekly gain as gold prices declined on October 2. A stronger dollar can reduce demand for dollar-denominated gold among buyers using other currencies.  

The dollar’s strength therefore remains an important factor for Indian gold prices, although the domestic price also depends on the rupee-dollar exchange rate, import-related costs and local market conditions.