Gold Prices Soar in India Amid Weakening Dollar
Gold and silver prices surged in India on August 21 as investors turned to precious metals amid a weak US dollar. The rally came despite a retreat in overseas markets, with spot gold rising 0.2% to $4,522.90 an ounce and silver advancing 0.1% to $68.16 an ounce.
The national average price of gold in India was Rs 1,59,870 per 10 grams, while the national average price of silver was Rs 2,44,410 per kg, according to the Bullions website.
In major Indian cities, Chennai led the metros with a peak gold rate of Rs 1,60,050, followed closely by Hyderabad and Bengaluru at Rs 1,59,840 and Rs 1,59,710 respectively. Mumbai and Delhi trailed behind, with prices ranging from Rs 1,59,580 to Rs 1,59,310 per 10 grams.
Similarly, silver rates in major cities fluctuated between Rs 2,43,960 and Rs 2,44,350 per kg, with Chennai recording the highest rate of Rs 2,44,670.