Indian Gold Prices Stable as Market Eyes Global Economic Data
Gold prices in India remained stable on August 9, according to market data. The current rates for 24-karat and 22-karat gold vary by city, with Delhi and Mumbai showing a slight difference in prices. In Delhi, the rate for 24-karat gold is ₹1,52,550 per 10 grams, while in Mumbai it is ₹1,52,350 per 10 grams. For 22-karat gold, the rates are ₹1,39,850 per 10 grams in Delhi and ₹1,39,650 per 10 grams in Mumbai.
The retail prices for gold at top jewellers such as Joyalukkas and Malabar Gold & Diamonds were also stable, with both quoting ₹13,220 per gram across major Indian states. Tanishq's 22K gold rate stood at ₹13,265 per gram, while Malabar's 24-carat gold rate was ₹14,422 per gram.
Market participants will continue to track global economic data, US interest rate expectations and currency movements for further direction in precious metal prices. Experts like Vandana Bharti of SMC Global predict that gold may rally to ₹1.48 lakh in 1-2 weeks despite the current correction.