Indian Gold Prices Fall Modestly Amid Global Trends

Gold prices in India have declined modestly on August 4, with a fall of ₹1 per gram across all major purity categories. The rates have edged lower due to global bullion trends and currency movements, which continue to influence investor decisions. Gold remains a preferred choice for long-term wealth preservation and a hedge against inflation.

The prices of 24-carat gold stand at ₹14,421 per gram, while 22-carat gold is priced at ₹13,219 per gram. The price of 18-carat gold has been fixed at ₹10,815 per gram. Most major cities are quoting identical rates, except for Chennai and a few western cities which are witnessing marginally higher prices.

Silver also witnessed a slight decline, trading at ₹234.90 per gram, down by ₹100 from the previous session. The price of one kilogram of silver stands at ₹2,34,900. Gold and silver prices in India are influenced by several factors, including international bullion prices, the rupee's exchange rate against the US dollar, import duties, and domestic demand.