Gold Prices Remain Stable in India as Market Awaits Direction from Global Economic Data
Gold prices in India remained relatively stable on August 4, with no significant changes observed across major cities. According to Business Today, Joyalukkas and Malabar Gold & Diamonds both quoted ₹13,220 per gram for 22-karat gold in various states. Tanishq's corresponding rate stood at ₹13,265 per gram.
The prices were influenced by brand-specific pricing policies, procurement costs, and regional market conditions, while overall bullion trends continued to guide gold prices. In the retail market, gold is traded mainly in two purities: 24-karat and 22-karat. While 24-karat gold is considered the purest form of the precious metal, 22-karat gold is widely preferred for jewelry due to its greater strength and durability.
Market participants will continue to track global economic data, US interest rate expectations, and currency movements for further direction in precious metal prices. Vandana Bharti of SMC Global explained that gold may rally to ₹1.48 lakh in 1-2 weeks despite correction, although no specific details were provided.