Gold Surges Past ₹1.5 Lakh, Silver Tops ₹2.5 Lakh on August 13
Gold and silver prices in India remained relatively stable on August 13, despite some fluctuations in international markets. According to Business Today, gold prices crossed ₹1.5 lakh per 10 grams, while silver rates topped ₹2.5 lakh per kg.
The Multi Commodity Exchange (MCX) saw gold futures decline by 0.23% to ₹1.54 lakh per 10 grams, and silver futures dropped by around 0.50% to ₹2.36 lakh per kilogram. In the retail market, gold is being traded mainly in two purities: 24-karat and 22-karat.
Market participants are keeping a close eye on global economic data, US interest rate expectations, and currency movements for further direction in precious metal prices. Leading jewellers such as Joyalukkas, Malabar Gold & Diamonds, and Tanishq quoted gold rates ranging from ₹14,195 to ₹15,535 per gram.
Vandana Bharti of SMC Global suggested that gold may rally to ₹1.48 lakh in 1-2 weeks despite the current correction. However, this prediction is not directly related to the current market situation.