Gold rate today: Check August 3 Monday retail prices, MCX performance and global outlook
Gold prices opened higher across India on Monday (August 3), with demand remaining steady among buyers and investors. The average price of 24-carat gold stood at ₹14,422 per gram, while 22-carat gold, widely used for jewellery, was priced at ₹13,220 per gram. The rate for 18-carat gold was ₹10,816 per gram.
Gold continues to be a preferred investment for many Indian households, particularly as a hedge against inflation and rising living costs.
Gold rates vary across cities
Retail prices differed marginally between cities. Chennai recorded the highest rate for 24-carat gold at ₹14,455 per gram. In the city, 22-carat and 18-carat gold were priced at ₹13,250 and ₹11,065 per gram respectively.
In Delhi, 24-carat gold was available at ₹14,437 per gram, while 22-carat gold was priced at ₹13,235 per gram.
Mumbai, Kolkata, Bengaluru, Hyderabad and Pune continued to follow a common pricing structure.
Gold rates in Kerala (per gram):
24-carat: ₹14,422
22-carat: ₹13,220
18-carat: ₹10,816
In Gujarat, both Vadodara and Ahmedabad recorded 24-carat gold at ₹14,427 per gram, with 22-carat gold priced at ₹13,225.
MCX and global gold markets move higher
Gold futures also traded higher in early deals. On the Multi Commodity Exchange (MCX), October gold futures opened at ₹1,43,578 per 10 grams, up ₹202 from the previous close. At the time of reporting, the contract was trading around ₹1,43,536 per 10 grams.
The gains came after reports of renewed diplomatic talks between the United States and Iran, which eased geopolitical tensions and contributed to lower oil prices.
In the international market, Comex gold opened at $4,135.20 per ounce, compared with the previous close of $4,107 per ounce. It was later trading at around $4,115.20 per ounce.
Despite Monday's gains, international gold prices remained well below the reported annual peak of $5,586.20 per ounce. Similarly, MCX gold futures continued to trade below this year's high of ₹1,80,779 per 10 grams.