Gold Prices Surge in Indian Market Amid Global Trends

Gold and silver prices rose in the Indian market on August 17, following the global trend. On the Multi Commodity Exchange (MCX), gold futures were up by 0.23% to ₹1,55,170 per 10 grams, while silver futures increased by 0.57% to ₹2,38,620 per kg at approximately 9:13 am IST.

The global market saw a weaker US dollar and changing expectations around the Federal Reserve's monetary policy contributing to this upmove. Reuters reported spot gold rising by 0.4% to $4,391.49 per ounce, while silver rose 1.4% to $65.57 per ounce.

City-wise rates in India showed variations in prices for 24K and 22K gold as well as 999-fine silver. The highest quoted 999 silver rate was seen in Chennai at ₹2,39,040 per kg, followed by Hyderabad at ₹2,38,730 and Bengaluru at ₹2,38,530.