1 week ago
Gold and Silver Prices Rise Across Indian Retail Markets
Gold and silver became slightly more expensive in India on 21 August.
The prices were listed for different cities and for different levels of gold purity.
Twenty-four-karat gold is the purest type, while 22-karat gold is often used for jewellery.
Silver prices were also higher.
On the MCX, gold and silver futures both rose.
Gold prices around the world increased as the US dollar weakened.
Investors were also watching tensions involving the United States and Iran.
These events can make precious metals more attractive to some investors.
Retail prices of 24-karat and 22-karat gold rose marginally across major Indian cities on 21 August.
Silver 999 Fine rates also increased in the domestic bullion market.
MCX gold was up 0.19% at ₹160,180 per 10 grams, while MCX silver futures gained about 0.65% to ₹245,990 per kilogram.
Spot gold rose 0.5% to $4,540.18 per ounce and was headed for a third consecutive weekly gain.
Price movements were linked to Middle East uncertainty, a weaker US dollar and a US Treasury bond buyback move.
- Who
- Indian retail buyers and bullion-market participants were affected; the United States, Iran and China were involved in the geopolitical developments cited.
- What
- Gold and silver prices increased marginally in India, while international gold prices also rose.
- Where
- Indian retail markets including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad and Chennai, as well as international markets.
- When
- Friday, 21 August; international spot prices were reported at 0254 GMT and MCX prices around 9:13 am.
- Why
- The article cited uncertainty over US-Iran tensions, planned US sanctions on Iran, a weaker dollar and a US Treasury bond buyback move.
Key facts
- New Delhi retail rates
- 24K gold: ₹159,510 per 10 gm; 22K gold: ₹146,218 per 10 gm; 999 silver: ₹244,560 per kg.
- Mumbai retail rates
- 24K gold: ₹159,740 per 10 gm; 22K gold: ₹146,428 per 10 gm; 999 silver: ₹245,220 per kg.
- Bengaluru retail rates
- 24K gold: ₹159,870 per 10 gm; 22K gold: ₹146,548 per 10 gm; 999 silver: ₹245,420 per kg.
- Kolkata retail rates
- 24K gold: ₹159,530 per 10 gm; 22K gold: ₹146,236 per 10 gm; 999 silver: ₹244,900 per kg.
- Hyderabad retail rates
- 24K gold: ₹159,990 per 10 gm; 22K gold: ₹146,658 per 10 gm; 999 silver: ₹245,610 per kg.
- Chennai retail rates
- 24K gold: ₹160,200 per 10 gm; 22K gold: ₹146,850 per 10 gm.
- MCX prices
- Gold was up 0.19% at ₹160,180 per 10 grams; silver futures were about 0.65% higher at ₹245,990 per kg.
- International gold
- Spot gold rose 0.5% to $4,540.18 per ounce, while US gold futures increased 0.6% to $4,596.60.
Sources
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