Gold prices moved lower across key markets on April 29, 2026, reflecting reduced safe‑haven demand and profit‑booking at elevated levels. Both the Indian and Dubai markets mirrored weakness in international spot prices.
Domestic prices in India declined modestly, while Dubai gold rates adjusted faster to global cues. The movement came amid a firmer US dollar and subdued investor sentiment.
Gold prices in India opened lower on Wednesday, April 29, 2026, extending losses from the previous trading session. As per prevailing retail benchmarks, 24K gold traded in the range of ₹1,50,900 to ₹1,51,100 per 10 grams across major cities, including Delhi, Mumbai, Bengaluru, and Hyderabad.
On a per‑gram basis, 24K gold hovered near ₹15,100–₹15,300, reflecting pressure from weaker global bullion prices. MCX gold futures also traded lower during early hours, slipping below ₹1.50 lakh per 10 grams as international spot gold moved close to $4,600 per ounce.
Indian gold prices remained influenced by a mix of global and domestic factors during the session. Profit‑booking after recent volatility weighed on sentiment in the futures and spot markets.
At the same time, a stronger US dollar limited upside, as gold is priced internationally in dollars. However, the downside in domestic prices was partly capped by ongoing physical demand linked to the wedding season across several regions.
Retail gold buyers in India continued to face costs beyond the headline bullion rate. Purchases attract 3% GST along with applicable TCS, depending on transaction value.
Making charges typically range between 5% and 25%, varying by jeweller, design complexity, and location. These additional charges keep the effective purchase price significantly higher than the quoted bullion rate.
Dubai gold prices recorded a sharper decline on April 29, 2026, closely tracking international spot market movements. The 24K gold rate slipped to around AED 542–552 per gram, marking a day‑on‑day fall of over 2%.
For standard quantities, 24K gold was priced at approximately AED 5,420–5,520 per 10 grams in the retail market. In Indian rupee terms, this translates to roughly ₹1,23,000–₹1,42,000 per 10 grams, depending on exchange rates and retailer conversion.
A direct comparison highlights clear structural differences between the 2 markets on April 29, 2026. In India, 24K gold averaged close to ₹1,51,000 per 10 grams, while comparable Dubai prices stood nearer ₹1,40,000–₹1,42,000 per 10 grams after rupee conversion.
The gap is largely driven by India’s import duties, GST, and local levies, which are minimal or absent in Dubai. However, cost advantages narrow once currency conversion, baggage limits, and Indian customs duty on excess imports are considered.
Read More: Gold Prices Up 60% Since Akshaya Tritiya 2025.
Gold prices declined in both India and Dubai on April 29, 2026, in line with weaker global bullion trends. While Indian prices saw a measured drop, Dubai gold rates adjusted more sharply due to closer alignment with international markets.
Structural factors such as taxes, duties, and transaction costs continue to influence price differences between the 2 regions. Overall, the day’s movement reflected global macro cues rather than market‑specific disruptions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 29, 2026, 10:42 AM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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