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Gold Prices Plummet: 22 and 18-Carat Jewelry Costs Drop Sharply, Golden Opportunity to Buy!
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News18•29-09-2026, 11:00
Gold Prices Plummet: 22 and 18-Carat Jewelry Costs Drop Sharply, Golden Opportunity to Buy!
- •Gold prices have seen a significant drop this week, continuing a downward trend since early September.
- •On Tuesday, September 29, 22-carat gold was 13,910 rupees and 18-carat gold was 11,420 rupees in Kolkata.
- •When buying jewelry, an additional 3% GST and making charges will apply, which can vary by store.
- •International gold markets, dollar exchange rates, and global economic situations influence domestic gold prices.
- •ICICI Bank reports this fall is temporary; international prices could reach $4200-$4600 per ounce by late 2026.
Key Questions Answered
On Tuesday, September 29, the price of 22-carat gold was 13,910 rupees, 18-carat gold was 11,420 rupees, and 1 kg of silver was 223,584 rupees. An additional 3% GST applies to these rates when purchasing.
No, according to a recent report from ICICI Bank, the current decline in gold prices is temporary. Market experts and ICICI Bank anticipate that international prices could trade between $4,200 and $4,600 per ounce by the end of 2026.
The final store price of jewelry will be higher than raw market rates because it includes making charges, a 3% GST, and other applicable costs. Making charges can also vary depending on the specific jewelry store you visit.
