Gold Prices Stabilize Amid Weakness in International Markets

Gold and silver prices in India remained stable on August 5, despite weakness in international markets. The price of gold hit ₹1,45,165 per 10 grams, while silver rates neared ₹2,23,800 per kg. On the Multi Commodity Exchange (MCX), gold futures were up by 0.60% at ₹1.45 lakh per 10 grams, and silver futures rose by around 0.99% to ₹2.23 lakh per kilogram.

Market participants will continue to track global economic data, US interest rate expectations, and currency movements for further direction in precious metal prices. Gold continues to be 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 jewellery due to its greater strength and durability.

The marginal differences in retail prices are influenced by brand-specific pricing policies, procurement costs, and regional market conditions. The top jewellers quoted the following prices on August 4: Joyalukkas and Malabar Gold & Diamonds both quoted ₹13,220 per gram, while Tanishq's 22K gold rate stood at ₹13,265 per gram.