Indian Gold Prices Rise Amid Diplomatic Tensions

Gold prices in India rose on Monday, August 3, as demand remained steady among buyers and investors. The average price of 24-carat gold was ₹14,422 per gram, while 22-carat gold, commonly used for jewelry, was priced at ₹13,220 per gram. The rate for 18-carat gold stood at ₹10,816 per gram.

Retail prices varied slightly between cities, with Chennai recording the highest rate for 24-carat gold at ₹14,455 per gram. In Delhi, 24-carat gold was available at ₹14,437 per gram, while 22-carat gold was priced at ₹13,235 per gram.

The Multi Commodity Exchange (MCX) also saw a rise in gold futures, with October gold futures opening at ₹1,43,578 per 10 grams, up ₹202 from the previous close. This gain came after reports of renewed diplomatic talks between the United States and Iran, which eased geopolitical tensions and contributed to lower oil prices.