Indian Gold Prices Hold Steady Amid Global Economic Uncertainty

Gold prices in India remained relatively stable on August 4, with some minor variations across major cities. The retail market for gold is dominated by two purities: 24-karat and 22-karat. While 24-karat gold is considered the purest form of gold, 22-karat gold is preferred for jewelry due to its added strength and durability from alloyed metals.

Market participants will continue to track global economic data, US interest rate expectations, and currency movements for further direction in precious metal prices. The latest import figures from China show a significant increase in June, with the highest level since March 2024. This has sparked interest in gold as an investment opportunity.

In the retail market, Joyalukkas and Malabar Gold & Diamonds quoted similar rates across major states, ranging from ₹13,220 to ₹14,422 per gram for 22-karat and 24-karat gold, respectively. Tanishq's 22K gold rate stood at ₹13,265 per gram.