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Massive Drop In Gold Prices Today Following Repo Rate Hike
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News18•07-10-2026, 12:29
Massive Drop In Gold Prices Today Following Repo Rate Hike
- •Gold prices have registered a significant drop today following the Reserve Bank of India hike in the repo rate by 25 basis points to 5.50 percent.
- •In Bengaluru today, 24-carat gold stands at ₹14,957 per gram, 22-carat gold at ₹13,710, and 18-carat gold at ₹11,218.
- •Buyers should remember that making charges, GST, and dealer margins add an extra 15% to 30% to the final showroom bill.
- •The price drop provides short-term relief to middle-class families and festival shoppers, though long-term prices depend on global economic factors.
Key Questions Answered
The Reserve Bank of India hiked the repo rate by 25 basis points, or 0.25 percent, bringing it to 5.50 percent from its previous level of 5.25 percent on October 7.
Following the repo rate hike, 24-carat gold decreased by ₹65 to ₹14,957, 22-carat gold dropped by ₹60 to ₹13,710, and 18-carat gold fell by ₹49 to ₹11,218 in Bengaluru.
When purchasing jewellery in showrooms, making charges, GST, and dealer margins are added to the base price, which can increase the final bill by 15% to 30%.
