Gold prices in Jammu and Kashmir crossed ₹74,000 per 10 grams for 24K purity this week, tracking international gold prices which hit $2,680 per troy ounce — a new all-time high. Here is a breakdown of what is driving gold prices higher and whether now is a good time to invest.
Factors Driving Gold Prices Higher in 2026:
• US Federal Reserve rate cut expectations reducing dollar strength
• Geopolitical tensions in Middle East increasing safe-haven demand
• Central bank gold buying by China, India, Russia, and Turkey at record pace
• Wedding season demand in India (Oct-Dec) pushing domestic prices up
• Weakening Indian Rupee against US Dollar
Current Gold Rates in J&K (September 23, 2026):
• 24K Gold (10g): ₹73,820 (Jammu) / ₹74,050 (Srinagar)
• 22K Gold (10g): ₹67,620 (Jammu) / ₹67,850 (Srinagar)
• 18K Gold (10g): ₹55,365 (Jammu)
• Silver (1kg): ₹88,500
Should You Buy Gold Now? Financial experts suggest a staggered investment approach rather than a lump sum. Consider investing 5-10% of your savings in gold through a combination of Sovereign Gold Bonds (SGB) and Gold ETFs rather than physical jewelry for purely investment purposes.
Sovereign Gold Bonds (SGB) issued by RBI offer the best return on gold investment as they pay 2.5% annual interest in addition to capital appreciation. The next SGB tranche will open for subscription in October 2026. Check rbi.org.in for subscription details.
