Indian Bullion Prices Firm Amid Global Economic Uncertainty

Precious metal prices in India remained firm on August 7 due to global economic uncertainty, reflecting strong demand for safe-haven assets. Gold and silver traded at elevated levels across major cities, with 24K gold priced above Rs 1.48 lakh per 10 grams and silver exceeding Rs 2.25 lakh per kilogram.

The trend was similar for 22K gold, widely used for jewellery purchases across India, which remained above Rs 1.36 lakh per 10 grams in all six metros. Silver prices also remained strong, with 999 Fine silver trading above Rs 2.25 lakh per kilogram across all key metros.

Domestic bullion prices are influenced by several factors, including international spot prices, the rupee-dollar exchange rate, import duties, GST and local demand. Market experts believe precious metals could remain volatile in the coming sessions as investors await fresh global economic data and monitor geopolitical developments.