Indian Gold Prices Remain Steady as Market Awaits Global Economic Data
Gold prices in India remained relatively stable on August 16, with rates at major jewellers like Joyalukkas and Malabar Gold & Diamonds holding steady at ₹13,220 per gram for 22-karat gold across various states. Tanishq's 22K gold rate stood at ₹13,265 per gram.
The prices of gold and silver have been influenced by global economic data, US interest rate expectations, and currency movements. According to Vandana Bharti of SMC Global, gold may rally to ₹1.48 lakh in 1-2 weeks despite the current correction.
In the retail market, gold is traded mainly in two purities: 24-karat and 22-karat. While 24-karat gold is considered the purest form, 22-karat gold is widely preferred for jewellery due to its greater strength and durability. The latest gold rates can be found on various websites.