Gold and Silver Prices Rise in India Amid Increased Demand
On August 26, gold and silver prices in India rose due to increased demand. Traders built fresh positions, supporting gold futures on the Multi Commodity Exchange (MCX). The gold contract for October delivery climbed Rs 115, or 0.07 percent, to Rs 1,62,997 per 10 grams.
The movement in domestic precious metals came as traders increased their positions, lending support to gold prices during Wednesday's session. Analysts attributed the rise in gold futures to fresh positions created by market participants, supported by firm demand in the spot market.
In international trade, however, gold futures declined 0.30 percent to $4,643.42 per ounce in New York. Despite this drop, domestic prices remained stable due to strong demand from traders and investors.
The current prices for 24K, 22K, and 18K gold are as follows: Delhi - Rs 16,390, Rs 15,025, and Rs 12,296 per gram; Chennai - Rs 16,375, Rs 15,010, and Rs 12,780 per gram; Bengaluru - Rs 16,375, Rs 15,010, and Rs 12,281 per gram; Mumbai - Rs 16,375, Rs 15,010, and Rs 12,281 per gram; Pune - Rs 16,375, Rs 15,010, and Rs 12,281 per gram; Kolkata - Rs 16,375, Rs 15,010, and Rs 12,281 per gram.
Silver prices also rose across major cities in India. The current price of silver is: Delhi - Rs 260 per gram and Rs 260,000 per kg; Chennai - Rs 265 per gram and Rs 265,000 per kg; Bengaluru - Rs 260 per gram and Rs 260,000 per kg; Mumbai - Rs 260 per gram and Rs 260,000 per kg; Pune - Rs 260 per gram and Rs 260,000 per kg; Kolkata - Rs 260 per gram and Rs 260,000 per kg.