Gold Prices Hold Steady on August 4 Amid US Dollar Weakness
Gold prices in India remained relatively stable on August 4, despite some fluctuations. Spot gold was trading at USD 4,059.22 per ounce, up 0.1% from the previous day's close. This stability is attributed to a weakness in the US dollar offsetting inflation concerns stemming from higher crude oil prices.
The India Bullion and Jewellers Association (IBJA) sets the daily 'base price' of gold in India, serving as the national benchmark for bullion rates. As per IBJA rates, 24-carat gold was priced at Rs 1,44,360 per 10 grams in Delhi and Chennai, while Mumbai and Hyderabad quoted Rs 1,44,210.
Silver prices varied across major Indian cities on August 4. Chennai recorded the highest rate at Rs 2,52,900 per kg, while Kolkata quoted the lowest at Rs 2,46,900 per kg.