Gold prices extended their upward momentum on Thursday, August 6, following a strong rally in the previous session, while silver witnessed mixed trends across domestic and international markets.
Gold gained on both Comex and the Multi Commodity Exchange (MCX), whereas silver edged lower. Here is a look at the latest gold and silver prices in India and the global market.
Gold rises on comex, silver slips
International precious metal prices showed mixed movement on Thursday morning. In the Comex, gold prices rose 0.47 percent to USD 4,325 per ounce. Silver, however, slipped 0.12 percent and was trading at USD 62.215 per ounce. The move comes after both precious metals witnessed strong volatility during the week.
Latest gold prices in key cities
| City | 24K Gold Price (Rs/10g) |
|---|---|
| Delhi | 149,100 |
| Mumbai | 148,950 |
| Kolkata | 148,950 |
| Chennai | 149,250 |
| Bengaluru | 149,100 |
| Hyderabad | 148,950 |
| Ahmedabad | 149,000 |
| Pune | 148,950 |
| Jaipur | 149,100 |
| Surat | 149,000 |
| Patna | 149,100 |
| Chandigarh | 149,100 |
| Bhopal | 149,100 |
| Lucknow | 149,100 |
| Noida | 149,100 |
Gold rises on MCX
Domestic futures also reflected strength in gold prices. On the Multi Commodity Exchange (MCX), gold was trading at around Rs 1,48,979 per 10 grams, up Rs 486 from the previous close. Silver futures, on the other hand, declined by Rs 355 to Rs 2,27,233 per kg during morning trade.
Latest gold rates in India
Spot gold prices remained firm across the domestic market. Twenty four carat gold was trading at around Rs 1,49,100 per 10 grams. Twenty two carat gold was priced at about Rs 1,36,675 per 10 grams, while 18 carat gold was available at nearly Rs 1,11,825 per 10 grams.
Silver prices in key cities
| City | Silver Price (Rs/kg) |
|---|---|
| Delhi | 2,27,990 |
| Mumbai | 2,27,990 |
| Kolkata | 2,27,990 |
| Chennai | 2,27,990 |
| Bengaluru | 2,27,990 |
| Hyderabad | 2,27,990 |
| Ahmedabad | 2,27,990 |
| Pune | 2,27,990 |
| Jaipur | 2,27,990 |
| Patna | 2,27,990 |
| Chandigarh | 2,27,990 |
| Bhopal | 2,27,990 |
| Lucknow | 2,27,990 |
| Noida | 2,27,990 |
| Indore | 2,27,990 |
Silver prices stay above Rs 2.27 lakh
Silver prices remained above the Rs 2.27 lakh mark despite the decline in futures trading. In the domestic market, silver was trading at around Rs 2,27,990 per kg. Investors continue to track movements in global bullion prices, the US dollar and interest rate expectations, which remain key drivers for gold and silver prices.
Why gold, silver prices are rising now
Gold and silver prices are rising as investors are increasingly buying safe haven assets amid global economic and geopolitical uncertainty. Expectations of interest rate cuts by the US Federal Reserve have also boosted demand for precious metals. A softer US dollar has further supported bullion prices. Strong central bank purchases and steady investment demand have added to the rally. Silver is also benefiting from improving industrial demand, particularly from the solar and electronics sectors.