Gold Prices in India Remain Steady Amid Global Market Volatility

India's gold prices remained relatively stable on August 4 as global investors kept a close eye on central banks' interest rate decisions. The US dollar's influence was also being closely watched.

The latest retail rates in India are as follows: 24-carat gold at ₹14,365 per gram, 22-carat gold at ₹13,169 per gram, and 18-carat gold at ₹10,777 per gram. City-wise prices showed slight variations in different regions of the country.

On the Multi Commodity Exchange (MCX), gold futures were trading around ₹1.42 lakh per 10 grams, while silver futures were near ₹2.18 lakh per kilogram. Analysts pointed out that precious metals firmed up on Monday due to weakness in oil prices and easing geopolitical tensions.

Experts suggest that gold remains a solid long-term hedge against inflation and economic uncertainty. However, given the current record-high prices, they advise staggered buying rather than making a big lump sum purchase at once.