India’s major jewelers lift 22-karat gold prices as global markets rebound

Gold prices rebounded on September 16, 2026, climbing about 1% to above $4,330 an ounce after two days of losses. In India, this uplift translated into higher jewellery rates: Tanishq priced 22-karat gold at Rs 14,110 per gram in New Delhi, Mumbai, Chennai, Kolkata, Thiruvananthapuram, Coimbatore and Bengaluru, while Malabar Gold & Diamonds, Joyalukkas and Kalyan Jewellers each quoted Rs 14,065 per gram. The Indian Bullion and Jewellers Association (IBJA) also posted higher indicative rates for 24k, 22k, 20k, 18k and 14k gold, as well as for 999-purity silver.

Research analyst Vedika Narvekar of Anand Rathi Share and Stock Brokers explained that the rally is driven by a modest decline in oil prices, which is reducing inflation anxiety, and a slight easing of Treasury yields after a sharp rise. Nevertheless, market participants are focused on the Federal Reserve’s upcoming rate decision, with a 93% probability of a hike, the first since 2023. The combined effect of global commodity movements and domestic pricing updates signals a cautious optimism among Indian consumers and investors.