New Delhi: Gold prices slipped Rs 100 per 10 gm to Rs 64,700 per 10 gm on Saturday, August 3, 202,4 for 22-carat variety. The 24-carat variety gold turned Rs 110 per unit cheaper to Rs 70,580 per 10 gm. 18-carat gold prices were down Rs 80 per 10 gm to Rs 52,940 per 10 gm. In international markets, spot gold prices stood at $2,442.24 per ounce, down 0.12 per cent on the day, according to Bloomberg data.
Name
1 Gram
10 Gram
100 Gram
Gold 24 Karat (Rs ₹)
6984
69840
698400
Gold 22 Karat (Rs ₹)
6402
64020
640200
Gold 20 Karat (Rs ₹)
5820
58200
582000
Gold 18 Karat (Rs ₹)
5238
52380
523800
Gold 16 Karat (Rs ₹)
4656
46560
465600
Gold 14 Karat (Rs ₹)
4074
40740
407400
Gold 12 Karat (Rs ₹)
3492
34920
349200
Gold 10 Karat (Rs ₹)
2910
29100
291000
To be sure, gold prices have risen in July backed by stock market volatiltity in the global sector, US economic data indications of a potential slowdown and suggestions of a US Federal Reserve rate cut by September, according to Saxo Bank’s head of commodity strategy Ole Hansen.
Silver Prices Today
Silver Prices Today in India were down Rs 1,700 per kg to Rs 85,500 per kg.
Name
1 Gram
10 Gram
100 Gram
1 Kilogram
Silver 999 Fine (Rs ₹)
83
828
8280
82800
Silver 925 Sterling (Rs ₹)
77
766
7659
76590
Silver 900 Coin (Rs ₹)
75
745
7452
74520
Silver 800 German (Rs ₹)
66
662
6624
66240
Gold price trends
Gold prices in India have seen a surge owing to rising demand from retail buyers after a government relaxation of import duty on the yellow metal. In the longer run, gold prices this year have risen phenomenally owing to a general global move away from the US dollar as a safe haven.
According to the World Gold Council, global central banks reported a net 12 tonnes purchase of gold in the month of June. RBI’s net gold purchase in June 2024 stood at 9 tonnes, one of the highest in the world, and equalling the purchase by Uzbekistan’s central bank, according to WGC data.
Central banks reported 12t of net #gold buying in June. In the map below, see which banks were buying and selling. Get further insights here: https://t.co/PqntIyqC6z pic.twitter.com/0mRwCnrDoq
— World Gold Council (@GOLDCOUNCIL) August 2, 2024
While China’s gold reserves were not added to for the 2nd straight month in July, India’s gold reserves also declined $2.297 billion to $57.695 billion in the week ended July 26, 2024, according to RBI’s weekly statistical supplement.
Gold price today in India slipped by Rs 100 per 10 gm to Rs 64,700 per 10 gm for 24-carat gold amid a wait and watch strategy with respect to the US Federal Reserve’s actual rate cut stance. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
