Gold, silver prices today: Check 24K, 22K rates in Delhi, Mumbai, Kolkata
Gold and silver prices moved higher in early trade on August 27, with safe-haven demand and global economic developments continuing to influence bullion markets.
Gold prices gained in international markets, with COMEX gold futures rising 0.65% to $4,683.70 per ounce around 02:50 GMT. Silver also climbed 1.57% to $69.09 per ounce.
In the domestic market, MCX gold for the October contract had closed 0.42% lower at Rs 1,59,000 per 10 grams on August 26. MCX silver for the September contract also declined 0.27% to Rs 2,39,000 per kg.
The LBMA spot gold price stood at $4,631.50 per ounce at the August 26 PM fixing, while domestic spot gold on MCX moved towards Rs 1,60,470 per 10 grams.
| City | 24K gold (10g) | 22K gold (10g) | Silver (1kg) |
|---|---|---|---|
| Delhi | ₹1,59,400 | ₹1,46,117 | ₹2,40,200 |
| Mumbai | ₹1,59,400 | ₹1,46,117 | ₹2,40,200 |
| Chennai | ₹1,59,400 | ₹1,46,117 | ₹2,40,200 |
| Kolkata | ₹1,59,400 | ₹1,46,117 | ₹2,40,200 |
| Bengaluru | ₹1,59,400 | ₹1,46,117 | ₹2,40,200 |
What is driving gold prices?
Gold continues to find support from safe-haven demand and broader macroeconomic uncertainty. However, analysts have also flagged the possibility of profit booking after gold's strong August rally.
Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said the broader trend remained positive as long as COMEX gold held $4,500 and MCX gold held Rs 1,57,000.
He also identified upcoming US GDP data and developments related to the US-Iran situation as important triggers for bullion prices.
Gold and silver outlook
Gold has already gained nearly 15% in August, according to Trivedi. A stronger dollar could put some pressure on prices, while geopolitical uncertainty and expectations around the US economy could continue to influence demand.
Investors should note that retail gold rates can vary between cities and jewellers because of local taxes, making charges and other costs.
Gold rates across Indian cities
The price of 24K, 22K and 18K gold can differ across Delhi, Mumbai, Kolkata and other cities. Buyers should check the latest local rate before making a purchase.
Silver prices can also vary depending on the market and applicable local charges.
Analysis
The bullion market is currently being influenced by a combination of international and domestic factors. US economic data can affect expectations around monetary policy and the dollar, while geopolitical developments can increase demand for traditional safe-haven assets.
For Indian buyers, international gold prices, the rupee-dollar exchange rate, import-related costs and domestic market conditions all contribute to the final price of gold.
The strong monthly rise also means short-term corrections remain possible even if the broader trend stays positive. Consumers buying jewellery should therefore distinguish between quoted bullion rates and the final retail price, which can include making charges, taxes and other costs.
(Disclaimer: Gold and silver prices are indicative and may vary across cities, jewellers and markets. The final price may also differ due to GST, making charges, local taxes and other applicable costs.)