- Gold and silver prices increased Monday on fresh positions.
- Eased Fed rate hike fears, safe-haven demand supported gains.
- Future prices face volatility from economic data, geopolitics.
Gold Silver Rate Today: Gold and silver prices moved higher on Monday, with gold gaining in domestic futures trade as fresh positions and firm spot demand supported the precious metal. Positive global cues and expectations of further gains in bullion also kept sentiment favourable.
On the Multi Commodity Exchange (MCX), gold futures for October delivery rose Rs 676, or 0.44 per cent, to Rs 1,55,182 per 10 grams, with a business turnover of 1,111 lots. Analysts attributed the rise to fresh positions built by market participants.
In overseas trade, gold futures in New York advanced 0.40 per cent to USD 4,394.01 per ounce.
Analysts expect gold and silver to retain their positive bias in the coming week, although volatility could remain elevated amid developments in West Asia and the release of key global economic data.
Market participants will track US housing and trade figures, inflation data from the UK, Eurozone and Japan, as well as economic indicators from China for cues, particularly for industrial metals. Investors will also monitor the minutes of the US Federal Reserve’s FOMC meeting for indications about the central bank’s monetary policy outlook.
Pranav Mer, Senior Vice President, EBG – Commodity & Currency Research, JM Financial Services Ltd, said gold and silver could move towards Rs 1.57 lakh per 10 grams and Rs 2.54 lakh per kg, respectively.
Domestic gold futures for October delivery had climbed Rs 2,686, or nearly 2 per cent, during the previous week to close at Rs 1.54 lakh per 10 grams on the MCX. September silver futures gained Rs 4,458, or 1.9 per cent, to Rs 2.35 lakh per kg.
Jateen Trivedi, VP Research Analyst — Commodity and Currency, LKP Securities, said gold gained 1 per cent during the week, while the rally exceeded 2 per cent at its peak before investors booked profits at higher levels.
He noted that MCX gold has risen nearly 9.5 per cent in August, making consolidation and intermittent profit-taking at elevated levels more likely in the near term.
In international markets, Comex gold futures for December delivery advanced $37.6, or nearly 1 per cent, last week to $4,437.3 per ounce. Silver gained $1.61, or 2.5 per cent, to $65.11 per ounce in New York.
Mer said gold futures ended higher for a second consecutive week but remained in a consolidation phase after rallying 11 per cent from below $4,000 per ounce.
Bullion has received support as traders scaled back expectations of a September rate hike by the US Federal Reserve following weaker-than-expected non-farm payroll data and steady inflation, while other economic indicators remained mixed, he said.
Safe-haven demand has also supported gold amid the West Asia conflict and tensions between the US and Iran over the Strait of Hormuz, with no resolution to the conflict currently in sight, Mer added.
Silver has also retained a positive bias, although prices have entered a consolidation phase following a pause in the recent industrial metals rally.
According to Trivedi, movements in the US dollar, expectations surrounding interest rates and geopolitical developments will remain the key factors influencing gold and silver prices in the near term.
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Gold Rates Across Major Cities In India On August 17
Gold Prices in Delhi Today (Per 1 Gram)
24 Karat – 15,581
22 Karat- 14,285
18 Karat- 11,691
Gold Prices in Chennai Today (Per 1 Gram)
24 Karat – 15,566
22 Karat- 14,270
18 Karat- 12,050
Gold Prices in Bengaluru Today (Per 1 Gram)
24 Karat – 15,566
22 Karat- 14,270
18 Karat- 11,676
Gold Prices in Mumbai Today (Per 1 Gram)
24 Karat – 15,566
22 Karat- 14,270
18 Karat- 11,676
Gold Prices in Pune Today (Per 1 Gram)
24 Karat – 15,566
22 Karat- 14,270
18 Karat- 11,676
Gold Prices in Kolkata Today (Per 1 Gram)
24 Karat – 15,566
22 Karat- 14,270
18 Karat- 11,676
| City | 24k Gold Per Gram | 22k Gold Per Gram | 18k Gold Per Gram |
| Gold Rate in Hyderabad | 15,566 | 14,270 | 11,676 |
| Gold Rate in Ahmedabad | 15,571 | 14,275 | 11,681 |
| Gold Rate in Indore | 15,571 | 14,275 | 11,681 |
| Gold Rate in Lucknow | 15,581 | 14,285 | 11,691 |
| Gold Rate in Coimbatore | 15,566 | 14,270 | 12,050 |
| Gold Rate in Bhubaneswar | 15,566 | 14,270 | 11,676 |
| Gold Rate in Mysore | 15,566 | 14,270 | 11,676 |
| Gold Rate in Kanpur | 15,581 | 14,285 | 11,691 |
| Gold Rate in Salem | 15,566 | 14,270 | 12,050 |
| Gold Rate in Visakhapatnam | 15,566 | 14,270 | 11,676 |
| Gold Rate in Vijayawada | 15,566 | 14,270 | 11,676 |
| Gold Rate in Patna | 15,571 | 14,275 | 11,681 |
Silver Price Across Major Cities In India On August 17
Silver Price In Delhi Today
The current silver price in Delhi stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Chennai Today
The current silver price in Chennai stands at Rs 255 per gram and Rs 255,000 per kg.
Silver Price In Bengaluru Today
The current silver price in Bengaluru stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Mumbai Today
The current silver price in Mumbai stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Pune Today
The current silver price in Pune stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price In Kolkata Today
The current silver price in Kolkata stands at Rs 250 per gram and Rs 250,000 per kg.
Silver Price Today in Major Indian Cities
| City | Per Gram | Per KG |
| Silver Rate in Hyderabad | 255 | 255,000 |
| Silver Rate in Ahmedabad | 250 | 250,000 |
| Silver Rate in Indore | 250 | 250,000 |
| Silver Rate in Lucknow | 250 | 250,000 |
| Silver Rate in Coimbatore | 255 | 255,000 |
| Silver Rate in Bhubaneswar | 255 | 255,000 |
| Silver Rate in Mysore | 250 | 250,000 |
| Silver Rate in Kanpur | 250 | 250,000 |
| Silver Rate in Salem | 255 | 255,000 |
| Silver Rate in Visakhapatnam | 255 | 255,000 |
| Silver Rate in Vijayawada | 255 | 255,000 |
| Silver Rate in Patna | 250 | 250,000 |
