India's Precious Metal Prices Hold Firm Amid Global Uncertainty

Precious metal prices in India remained firm on August 7 amid global economic uncertainty, reflecting strong demand for safe-haven assets. Gold and silver traded at elevated levels across major cities.

Gold prices hovered above Rs 1.48 lakh per 10 grams for 24K purity in major cities, with a similar trend seen for 22K gold, widely used for jewellery purchases in India. Prices remained above Rs 1.36 lakh per 10 grams in all six metros.

Silver prices also remained strong, with 999 Fine silver trading above Rs 2.25 lakh per kilogram across all key metros. Domestic bullion prices are influenced by several factors, including international spot prices, the rupee-dollar exchange rate, import duties, GST, and local demand.

Market experts believe precious metals could remain volatile in the coming sessions as investors await fresh global economic data and monitor geopolitical developments.