Indian Gold and Silver Prices Fall Under Pressure
The prices of gold and silver have fallen in India due to pressure on precious metals. The retail market is dominated by two purities of gold, 24-karat and 22-karat. While 24-karat gold is considered pure, 22-karat gold is preferred for jewelry due to its strength and durability.
The prices of gold at top jewellers such as Joyalukkas, Malabar Gold & Diamonds, and Tanishq remained largely stable on August 18, with Joyalukkas and Malabar Gold & Diamonds quoting ₹14,205 per gram across major Indian states. Tanishq's 22K gold rate stood at ₹14,250 per gram.
The prices of silver have also fallen in India, with Delhi seeing a price of ₹24,490 per 100 grams and ₹2,44,900 per kg. Mumbai saw the same price for silver at ₹24,490 per 100 grams and ₹2,44,900 per kg.