Gold Prices in India Volatile Amid Global Risk Sentiment and Currency Movements

Global risk sentiment and US bond yields are influencing gold prices in India. On August 8, MCX gold futures for October 5 opened higher, with a rise of 0.36 per cent or Rs 536 from the previous close. Retail gold rates remained elevated across major Indian cities, with New Delhi quoting the highest listed 24-carat rate at Rs 15,005 per gram.

The same pattern was observed in other cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, and Kerala, where 24-carat gold stood at Rs 14,990 per gram. The 22-carat rate in these markets was Rs 13,741 per gram, while 18-carat gold was listed at Rs 11,243 per gram.

Silver futures on the Multi Commodity Exchange also saw a mixed trend, with the September 4 contract touching an intraday high of Rs 2,28,397 per kg before slipping to Rs 2,26,580. The global bullion prices can influence domestic futures, although Indian rates also reflect rupee movement, import costs, and local levies.