Gold Prices Steady in India Amid US Economic Data Wait
Gold prices in India held steady on August 5, trading within a narrow range near the key USD 4,100-an-ounce mark. Investors were waiting for crucial US economic data releases later this week to gain insight into the Federal Reserve's interest rate path.
The spot gold price was up 0.1% at USD 4,078.24 per ounce, while silver prices remained largely unchanged at USD 59.54 per ounce. The cautious sentiment across precious metals was reflected in these stable prices.
Domestically, the MCX saw gold trading 0.75% higher at Rs 1,45,385 per 10 grams, and silver trading 0.94% higher at Rs 2,23,698 per kg.
Cities such as Delhi, Mumbai, Kolkata, Hyderabad, and Chennai all recorded similar rates for gold and silver prices. The highest rate of silver was seen in Hyderabad at Rs 2,42,900 per kg, while the lowest was quoted in Mumbai at Rs 2,46,900 per kg.