Gold rate today, Aug. 26 -- 24 carat gold is Rs.16,375 a gram and 22 carat is Rs.15,010, down Rs.22 and Rs.20 from Monday. On a ten gram chain that is a saving of Rs.200, which is less than most jewellers charge to hallmark the piece.

That is the honest scale of Tuesday's move. It reverses about a quarter of Monday's Rs.88 jump and leaves 22 carat gold above Rs.15,000 a gram for a second day, a level it had never held before this week. Anyone reading the fall as a buying window is looking at a rounding error on a metal that has gained more than a third in a year.

Two things on the board actually matter today, and neither of them is the Rs.22.

Gold Rate Today City-Wise: Seven Cities, One Number

The gold rate today in India is close to ...